Ares Commercial Finance Provides $22.5 Million Senior Secured Credit Facility to Leading Offline Egg Processor and Wholesale Distributor
February 15, 2023
By Ares Commercial Finance
NEW YORK – February 16, 2023 – Ares Commercial Finance announced today that it has provided a $22.5 million senior secured credit facility to a leading offline processor and wholesale distributor of branded and private-label commodity, specialty and hard-cooked eggs predominantly in the Northeast and Mid-Atlantic markets. The credit facility consists of an asset-based revolving line of credit. Proceeds of the credit facility will be used to refinance existing indebtedness and for ongoing working capital needs.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the asset-based lending team of Ares Management Corporation. ACF is focused on providing credit facilities up to $300 million to middle market and lower-middle market, private and public companies; and addresses a wide scope of industries including manufacturing, distribution, wholesale, retail, and service companies. These facilities include revolving lines of credit and term loans, asset-based and cash flow stretch loans, and asset-backed facilities to specialty finance companies. Leveraging the breadth and experience of the Ares platform, ACF works with borrowers to deliver creative, flexible, and customized financing solutions. These financing solutions may be structured as working capital financing, bridge financing, turnaround financing, acquisition financing, debtor-in-possession financing, and special accommodation financing. For more information about Ares Commercial Finance, visit www.arescommercialfinance.com.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2022, Ares Management Corporation's global platform had approximately $352.0 billion of assets under management, with more than 2,550 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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