Zions Bancorporation, through its Texas division, Amegy Bank, closed and funded a $20,000,000 credit facility for an energy-focused private equity-owned provider of oil country tubular goods and services. The credit facility consisted of a multi-year revolving line of credit.
Proceeds of the credit facility were used to finance the acquisition of a manufacturer of OCTG products as part of the strategic expansion of the client’s production capacity and product and geographic offerings. The ABL revolver will also provide ongoing working capital needs.