First National Capital provided a $35,000,000 debt refinance for a growing upstream oil & gas, machining, and forging Ccmpany.

The company had been recovering from COVID-19 impacts, below average EBITDA, and compressed EBIT with high concentration in the highly volatile oil and gas drilling sector. With an approaching debt maturity and complex ownership/tax implications, FNCC, working alongside the senior lender and their investment banker, provided a cash flow-enhancing refinance facility secured by aged drilling rigs on short-term contracts.

Ben Frank, Chief Revenue Officer of FNCC, said, “This facility offers a great example of how our team can mobilize, dig deeper, and bring flexible capital solutions to industries less favored by traditional lending. It also demonstrates how this solution can complement existing senior lending relationships and maximize access to capital for the road ahead.”