PNC Bank announced that it closed a $26 million senior secured credit facility for Tennessee Valley Recycling (TVR), based in Decatur, Alabama.

PNC Bank serves as administrative agent. TVR will use the funds to refinance existing senior bank debt, partially fund capital expenditures and provide for ongoing working capital needs. Treasury management products and services are included in this transaction.

Established in 2000, TVR is a family-owned business that provides scrap metal management and recycling services in the Northern Alabama and Southern Tennessee areas. The company has extensive baling, shearing, and shredding capabilities, and operates full-service scrap metal processing facilities.