First National Capital Provides $35,000,000 Debt Refinance Facility To Diversified Oil & Gas Company

IRVINE, Calif. - Jan. 25, 2024 - PRLog -- First National Capital Corporation (FNCC), a full-service commercial equipment and aviation finance provider, has recently announced the $35,000,000 debt refinance of a growing Upstream Oil & Gas, Machining, and Forging Company.

The company had been recovering from COVID-19 impacts, below average EBITDA, and compressed EBIT with high concentration in the highly volatile oil and gas drilling sector. With an approaching debt maturity and complex ownership/tax implications, FNCC, working alongside the senior lender and their investment banker, provided a cash flow-enhancing refinance facility secured by aged drilling rigs on short-term contracts.

Ben Frank, Chief Revenue Officer of FNCC, said, "This facility offers a great example of how our team can mobilize, dig deeper, and bring flexible capital solutions to industries less favored by traditional lending. It also demonstrates how this solution can complement existing senior lending relationships and maximize access to capital for the road ahead."

Across a wide variety of industries and asset classes, First National Capital Corporation supports mid-sized and large companies by providing competitive equipment financing across an extensive variety of business and credit situations. FNCC has deployed more than $4 Billion in capital to companies throughout the U.S. for equipment, project, and aviation financing. For more information, please visit the First National Capital Corporation website at http://www.firstncc.com