CG Commercial Finance Completes $25MM Frac Spread Equipment Lease for Oil and Gas Services Company
Commercial Finance (CGCF) announced it has completed a lease
transaction totaling $25,000,000 comprised of three Frac-Pump Spreads
providing additional liquidity for the Lessee, a large Texas-based
oilfield services provider. This transaction is another recent example
of CGCF’s ability to fund large, complex transactions in a challenging
credit and macro-economic climate. CGCF continues to secure funding for
energy companies despite the current and historically low level of
lending interest within the Oil and Gas Industry.
CGCF provided competitive pricing and the required credit capacity
despite the Lessee’s rapidly changing credit profile resulting from
depressed oil prices. Additionally, CGCF’s deep capital markets
capability provided an additional $25MM credit approval further
improving the Lessee’s liquidity position.
“I want to personally thank you and your team for all your hard work.
You guys were fantastic. Please let me know when you are coming out
and I will get our closing dinner scheduled.” Perry Ewing, Corporate
CGCF’s deep due diligence and broad portfolio capabilities have proven
essential for many companies operating within the Energy Sector to
obtain the necessary liquidity, structure, and flexibility to continue
to operate in a down commodities cycle.
“As banks withdraw from a variety of industry sectors, CGCF continues
to selectively work with best in class companies and management teams in
out of favor industries to provide needed liquidity via equipment
financing. While Banks chase investment grade business in favored
industries, CGCF focuses on providing value to middle market companies.
We work hard and make the extra effort to comprehend complex
macro-economic conditions, intimately understand the businesses for
which we are funding, and successfully structure transactions to
mitigate credit, industry, and collateral risk.” W. Scott McCullum,
President, CG Commercial Finance.
About CG Commercial Finance
Commercial Finance is a domestic and international financier of
equipment and industrial projects related to the growth, expansion and
efficiency initiatives of large corporations. CGCF delivers highly
customized lease and financing solutions to meet complex operational,
accounting, and treasury requirements. Projects typically range from
$1MM to $300MM in cost and include diverse assets such as transportation
(titled vehicles, air, rail, and marine), industrial plants
(manufacturing, food processing, assembly, etc.), distribution centers,
material handling, mining, energy, and technology assets.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151214005230/en/
Copyright Business Wire 2015
Source: Business Wire
(December 14, 2015 - 9:00 AM EST)
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