Wingspire backs metal finishing firm with $45M in first-out financing
What's the deal? Wingspire Capital provided $45 million in first-out secured financing to an unnamed provider of metal surface finishing solutions for mission-critical components. The facility comprises a $10 million revolver and a $35 million term loan.
How it's structured: The financing sits within a larger $135 million senior secured unitranche facility. As the first-out portion, Wingspire holds priority repayment rights ahead of other lenders in the structure.
Where the money goes: The company will use the proceeds to refinance existing debt and add liquidity. Wingspire said the deal gives the borrower "enhanced liquidity and financial flexibility to support its continued growth."
The signal: The deal reflects steady private credit demand from industrial and manufacturing companies seeking to refinance and fund expansion outside traditional bank lending.
Read more: abladvisor.com
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