Lisle, IL Engs Commercial Finance Co. ( ENGS ) announced today that it has added PNC Bank ( PNC ) and its $75MM commitment to its $455MM ABL credit facility. PNC will assume the roles of Syndication Agent and Joint Lead Arranger on the transaction. The ABL facility is agented by the Bank of Montreal.
Scott Franklin, Senior Vice President of Capital Markets at ENGS, stated We are pleased to have PNC join our ABL facility in an important lead role. PNC s suite of financial offerings and knowledge of the equipment finance market will provide immeasurable assistance as we continue to grow our business. We welcome PNC and are excited to add them to our facility.
ABOUT ENGS COMMERCIAL FINANCE CO.: ENGS is a 65-year-old commercial finance company and a leading provider of financial solutions to manufacturers, dealers and end-users of Transportation equipment, Industrial equipment and Construction equipment, and a leading provider of Insurance and working capital (Factoring) products to its customers. In 2016 ENGS was recognized by the Monitor as the 5th largest independent finance company in the U.S.