Latest news from Heavy Lift & Project Forwarding International Magazine

ENTREC fixes funds

March 7 - ENTREC Corporation has closed a new USD240 million senior secured asset-based credit facility, the ABL Facility, with a syndicate of lenders led by Wells Fargo Capital Finance Corporation Canada.

The syndicate of lenders also includes The Bank of Nova Scotia, Canadian Western Bank, The Toronto-Dominion Bank, and National Bank of Canada.

The ABL Facility replaces ENTREC's previous senior debt facilities and will be used to fund future capital expenditures and business acquisitions, as well as for general corporate purposes.

The facility has a five year term and requires payment of interest only. Amount borrowed bear interest, at ENTREC's option, at bank prime or bankers' acceptance rates, plus a credit spread based on a sliding scale.

The amount available under the ABL Facility is calculated monthly based upon a specified percentage of eligible equipment and trade accounts receivable, less applicable reserves. ENTREC currently has excess borrowing capacity of approximately USD69 million available for use.

www.entrec.com

Heavy Lift | News

Ruud Gullit revealed as guest speaker at Heavy Lift Awards thumbnail image

Ruud Gullit revealed as guest speaker at Heavy Lift Awards

September 17 - HLPFI can exclusively reveal that Ruud Gullit - Ballon d'Or winner and former AC Milan, PSV, Chelsea, Feyenoord, and the Netherlands international football icon - will be kickstarting the inaugural Heavy Lift Awards 2019 ceremony.
Views: 161
White appointed at WW Solutions thumbnail image

White appointed at WW Solutions

September 17 - Wallenius Wilhelmsen Solutions (WW Solutions) has appointed Simon White to the newly created position of chief digital officer.
Views: 214
Shelala joins ALG board thumbnail image

Shelala joins ALG board

September 17 - Compass Forwarding’s Robert Shelala has joined the board of Aerospace Logistics Group (ALG), a network of companies that specialise in the movement of aircraft parts and components.
Views: 210

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