Laney

Parameters

Revolver: $13.75MM Term Loan (all asset lien)

Situation

Due to Covid, Laney Directional Drilling had significantly missed sales plans and was underperforming. The Company’s existing facility with a senior bank group was in workout with the debt coming due, and they needed a new financing partner. A broker brought the situation to Tiger’s attention as all other potential lenders had not yet been able to get comfortable with the assets of the Company.

Tiger’s Role

Tiger’s Commercial and Industrial team was able to quickly identify the asset value of the M&E assets, and Tiger was able to step in late in the process to offer a financing solution.

Resolution

On a compressed timeline, Tiger provided financing that allowed for a refinancing of the senior lender before maturity and provided liquidity for 2022.