Siena Lending Group LLC (“Siena”) announces the completion of a three-year $7.5 million asset based revolving and term loan credit facility for American Bare Conductor Inc. (“ABC”) to refinance their existing senior debt and to provide additional working capital for the business.
Located in LaSalle, IL, American Bare Conductor offers comprehensive lines of bare copper and insulated wire and cable products for industrial applications as well as for special uses.
Ricardo Kawamura, CEO and Director of ABC, said, “We are pleased to enter into this new credit agreement which will provide us a competitive advantage to implement our continuous growth plan. This deal enhances our ability to develop our market share and recognition of our brands."
Nick Payne, Senior Vice President of Siena Lending Group, said, “We are very pleased to provide this credit facility to American Bare Conductor to support their growth initiatives. We worked closely with Ricardo and his leadership team to provide a flexible solution that was delivered within the terms and timeframe specified by the Company.”