Bank of America Business Capital Provides US$150 Million Asset-Based Loan to Sunstate Equipment Company.
PR Newswire Europe, May, 2005
GLASTONBURY, Connecticut, May 26 /PRNewswire/ -- Bank of America Business Capital, one of the world's largest asset-based lenders, announced today that it has provided a US$150 million asset-based loan to Sunstate Equipment Co., LLC, a regional construction rental equipment company. The credit facility was fully underwritten by Banc of America Securities, which also was sole book-running manager on US$125 million in senior long-term notes. The revolver was used to refinance existing debt. The senior notes were used to refinance existing debt and to repurchase an existing equity interest. Bank of America will also provide letters of credit and cash management products and services.
"Bank of America Business Capital was able to fully underwrite the credit...
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