First National Capital Provides $65MM Capex Facility to Transportation Company

First National Capital (FNCC), a full-service commercial equipment and aviation finance provider, established a $65 million capex facility to fund the rolling stock acquisition needs of a national transportation company.

The transportation company sought to modernize its fleet to enhance market competitiveness and provide customers with a contemporary, reliable, technology-enabled transportation experience. FNCC’s flexible financing solution aims to reduce costs while offering the option to purchase, return or continue renting vehicles beyond the initial five-year period.

“Assisting a renowned brand in positioning itself for growth with a truly flexible capital solution exemplifies our commitment to facilitating transactions while traditional lenders are scaling back,” Keith Duggan, CEO of FNCC, said. “Through a covenant-lite structure, we delivered scalable access to capital that complements senior lenders in the bank group, successfully executed with a foreign parent.”

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.