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ENGS Commercial Finance Closes $75MM Commitment from PNC Bank

April 18, 2017, 07:15 AM
Filed Under: Industry News

ENGS Commercial Finance announced that it has added PNC Bank (“PNC”) and its $75MM commitment to its $455MM ABL credit facility. PNC will assume the roles of Syndication Agent and Joint Lead Arranger on the transaction. The ABL facility is agented by the Bank of Montreal.

Scott Franklin, Senior Vice President of Capital Markets at ENGS, stated “We are pleased to have PNC join our ABL facility in an important lead role. PNC’s suite of financial offerings and knowledge of the equipment finance market will provide immeasurable assistance as we continue to grow our business. We welcome PNC and are excited to add them to our facility.”

ENGS is a 65-year-old commercial finance company and a leading provider of financial solutions to manufacturers, dealers and end-users of Transportation equipment, Industrial equipment and Construction equipment, and a leading provider of Insurance and working capital (Factoring) products to its customers.

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