Zions Bancorporation, through its Texas division, Amegy Bank, closed a $12,000,000 credit facility for a distributor of control valves, actuators, and related equipment for various industries. The credit facility consisted of a $10,000,000 multi-year revolving line of credit and a $2,000,000 term loan facility.
Proceeds of the revolving line of credit facility were used to provide for ongoing working capital needs. The term loan proceeds will enable the company to make improvements to its property.