Bank of America Business Capital has expanded its presence in the United Kingdom and Europe by closing a £110 million asset-based revolving credit facility for Doncasters Group Ltd.

Through its London office, Bank of America Business Capital acted as sole arranger and joint bookrunner (left) on the asset-based revolving credit facility. In addition, Bank of America Merrill Lynch acted as joint lead arranger and joint bookrunner on an $876 million equivalent 7-year first lien term loan and a $290 million 7.5-year second lien term loan.

Contingent hedging and treasury solutions were also structured as part of the transaction.

Doncasters Group is a leading international engineering group that manufactures precision components and assemblies for the aerospace, industrial gas turbines, specialist automotive, petrochemical, construction, industrial, transportation and recreation markets. The group excels in working with alloys and metals that are difficult to shape and form.

Bank of America Business Capital is one of the world’s largest asset-based lenders, with more than ten primary offices serving the United States, Canada and Europe. It provides corporate borrowers with senior secured loans of $10 million or more, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products.