Bank of America Business Capital Co-Agents US$175 Million Asset-Based Loan to Ahern Rentals, Inc.
PR Newswire Europe, November, 2004
LAS VEGAS, November 16 /PRNewswire/ -- Bank of America Business Capital, one of the world's largest asset-based lenders, announced today that it was co-lead arranger and administrative agent for a US$175 million revolving credit facility to Ahern Rentals, Inc. Ahern is the largest independently owned rental equipment company in the United States. The facility will be used to refinance existing debt and provide ongoing working capital. Bank of America will also provide letters of credit as well as cash management products and services.
"With its extensive experience in financing rental equipment companies, Bank of America Business Capital delivered a flexible debt structure with a more attractive financial covenant package than other lenders competing for...
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