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United Leasing & Finance Secures Credit Facility With Bank of America

August 10, 2017, 07:00 AM
Filed Under: Industry News

Martha Ahlers, Chief Operating Officer of United Leasing & Finance (ULF,) recently announced the closing of a $350 million, multi-year senior secured revolving credit facility with an accordion expansion to $475 million with Bank of America, as Agent. This incorporates a syndication of lending institutions including US Bank, BB&T, Fifth Third Bank, Northern Trust and Old National Bank. ULF will use this facility to further fund its continued growth plans.

According to Rick Schulz, Executive Vice President and Chief Financial Officer of ULF’s parent company United Companies, “The renewal and expansion of our revolving credit facility demonstrates the continued partnership and support of our company’s business model by our bank group. The increased commitments from our existing bank partners positions the company well to grow our lease and loan portfolio over the next four years.”

United Companies is a privately-owned corporation founded in 1964 and is headquartered in Evansville, Indiana.  It is comprised of United Leasing & Finance, Professional Transportation, Inc. and the Romain Automotive Group.  With over 6,100 associates, United Companies has direct operations in 40 states and the District of Columbia, while managing assets in all 50 states, Canada and Mexico.

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