P.I.T. PIPE

Parameters

$11MM Term Loan (all asset lien); Equity Investment

Situation

A lower middle market pipe trader had an opportunity to purchase the inventory from a cancelled pipeline. The opportunity was 10x the size of their typical project.

Tiger’s Role

Tiger has completed several pipe liquidations and was able to quickly assess the opportunity. Tiger acted and closed quickly enabling the operator to secure the product amidst increasing prices, providing both debt and equity.

Resolution

Tiger and its partners are liquidating the pipe through a structured finance facility. Tiger’s accounting staff has provided the additional administrative services to accommodate the increase in volume for the broker. Tiger’s Commercial and Industrial division has provided additional sales and marketing support and is responsible for 35% of sales.