Opus Bank’s Commercial Banking division provides $10,525,000 in debt financing to AFC Trident, Inc.
Overview of Transaction
- AFC Trident Inc. (“AFC Trident”) is a leading supplier of rugged, lifestyle, and business smart phone and tablet cases.
- AFC Trident’s majority owner wanted to buy out a minority owner’s shares, and used debt financing to fund this event.
- AFC Trident also needed working capital to support continued strong growth.
Significance of Transaction
- Opus Bank provided a term loan to fund the buyout of the minority investor.
- Opus Bank provided a revolving credit facility to support AFC Trident’s growth in 2015 and beyond.
- Opus Bank refinanced one of AFC Trident’s buildings at a lower cost than their previous financing, freeing up cash flow to support the company’s growth.
Opus Bank's Role
- Opus Bank worked quickly to underwrite and fund a complex multi-facility financing for AFC Trident within 6 weeks of receiving a signed LOI.