Eclipse Business Capital Provides $125mm DIP Revolving Credit Facility to Mattress Manufacturer
Chicago, IL – January 30th, 2023 – Eclipse Business Capital LLC (“EBC”) announced that it has agented a $125 million senior secured debtor-in-possession (“DIP”) revolving credit facility to a mattress manufacturer. The credit facility is secured by accounts receivable and inventory. The transaction facilitates a restructuring with existing lenders to de-lever and provide runway for a long-term business plan execution. The aforementioned DIP will roll into an exit facility. EBC’s demonstrated track record of executing quickly, coupled with its flexible approach, provided the borrower confidence that its business needs would be met.
Originally founded in 2016, EBC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries. The firm provides revolving lines of credit and term loans ranging in size from $10 – 200 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate.
Since it was established, EBC has underwritten more than 90 transactions totaling over $3.4 billion in aggregate credit facilities. EBC has an experienced team of 45 professionals, located in Chicago, Boston, New York, Connecticut, Los Angeles, San Francisco, Houston, Charlotte and Fort Lauderdale and provides financing to middle-market borrowers in the U.S. and Canada.