Monroe Capital Provides $12.5 Million to Black Warrior Wireline Corp.CHICAGO -- Monroe Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control announced the funding of a $12.5 million junior secured term loan to Black Warrior Black Warrior, river, United States Black Warrior, navigable river, 178 mi (286 km) long, rising in N central Ala. and flowing generally SW to the Tombigbee River. Wireline Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BWWL.PK). Monroe Capital's term loan, in conjunction with a $50 million senior credit facility from GE Capital, was used to assist Black Warrior Wireline Corp. to refinance its existing debt and to consummate a strategic acquisition. Black Warrior, headquartered in Columbus, Mississippi, provides direction well drilling, downhole surveying, and wireline services to oil and natural gas exploration and production customers operating in Alabama, Mississippi, Montana, New Mexico, North Dakota, Texas, Wyoming, and offshore Louisiana in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . The target company, BobCat bobcat: see lynx. bobcat Bobtailed, long-legged North American cat (Lynx rufus) found in forests and deserts from southern Canada to southern Mexico. It is a close relative of the lynx and caracal. Pressure Control, Inc., provides well intervention services to natural gas and oil exploration and production companies. The acquisition of BobCat is part of Black Warrior's strategy of building a production enhancement company with a diverse service offering across a wide geographic footprint. Monroe Capital is a specialty finance company devoted to providing innovative capital to middle-market businesses. Monroe Capital specializes in originating, structuring and providing customized financing to corporate, real estate, media and communication, and asset-based borrowers based in the U.S. and Canada in amounts of $3 million to $40 million, with an ability to agent and syndicate larger transactions. These investments include senior and junior secured debt as well as bridge loans to companies in need of immediate access to capital; flexible acquisition facilities; mezzanine or last-out second loans that stretch a company's debt capacity; acquisitions of distressed debt distressed debt Debt with low junk status and a market price substantially below par value, often pennies on the dollar. Investors sometimes buy distressed debt on the possibility that management can renegotiate loan agreements and keep the issuer out of ; and equity co-investments. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. To learn more about Monroe Capital, visit www.monroecap.com. |
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