White Oak ABL, LLC, White Oak Commercial Finance, LLC, and other affiliates of White Oak Global Advisors, LLC, (collectively, “White Oak”) have closed a new US$287.5m 3-year senior secured credit facility with Majestic Steel USA Inc., a Midwest based distributor and value-added service provider of flat-rolled steel products with operations throughout the United States (Majestic Steel), acting as Sole Arranger and Bookrunner.
The credit facility consists of a US$212.5m asset based revolving line of credit and term loan funded by White Oak Commercial Finance, White Oak ABL and Eclipse Business Capital and a US$75m term loan funded by Stonebriar Commercial Finance. The proceeds were used to support the company’s refinancing of its existing bank debt, support working capital growth and to finance the completion of the company’s world-class, state-of-art distribution and processing facility located in Blytheville, AR.
