PNC Bank Provides $26.5 Million To Southeast Manufacturer
PITTSBURGH, Dec. 30, 2014 – PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC) today announced the closing of a $26.5 million financing facilit for MAYCO Industries, Inc. The facility consisted of a $17 million asset-based revolver, a $9.5 million term loan and treasury management services. Based in Birmingham, Alabama, the company is using the funds for acquisition, growth and working capital needs.
MAYCO is a manufacturer of non-battery lead products for industries, such as plumbing, pharmaceutical, electronics and chemical.
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the United States’ largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
SOURCE: PNC Financial Services Group