PNC Bank announced the closing of a $50 million asset-based loan for Hamilton Metals, Inc. The transaction also includes capital markets and foreign exchange services. Based in Houston, TX, the company is using the funds to refinance existing debt and provide ongoing working capital.

Hamilton Metals is one of the largest stocking distributors of corrosion resistant alloys for the oil and gas industry.

The PNC Financial Services Group, Inc. is one of the United States’ largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.