TMCnet News
Mintz Levin Represents Bay Point Advisors in $6.6M Coal Sector Term LoanBay Point Advisors has expanded its footprint in the coal sector as the firm advanced a $6.6 million term loan to Coking Coal Financing, LLC. The loan provides funds to acquire and stockpile coal for resale, and to launch its receivables factoring program. Mintz Levin served as Bay Point's legal team. This deal is the most recent in a series of transactions in which Bay Point, a privately held firm specializing in short-term, secured lending to small- and medium-sized businesses, has provided funding for high-profile projects in the coal sector. Bay Point recently provided $17.25 million to Seminole Coal Resources and Seneca Coal Resources. "We are pleased to expand our presence in the coal sector through non-traditional financing arrangements. Bay Point looks forward to continuing our efforts in the distressed arena," said Charles Andros, Manager, Bay Point Advisors. Bay Point's Secured Lending group lends to small and mid-sized businesses where traditional loan sources do not exist and desins custom funding solutions that meet the unique needs of each business. Examples of secured lending include real estate development financing, private business funding, first lien small business, commercial real estate, real estate inventory financing, residential real estate, renovation loans, tax deeds and debtor-in-possession financing. The Mintz Levin (News - Alert) legal team was led by Member Kevin Walsh of Mintz Levin's market-leading Bankruptcy and Restructuring practice, which has a national reputation defined by its ability to handle any credit situation in any sector. The team has successfully represented institutional investors in many of the largest and most complex in- and out-of-court restructurings. Unique and highly specialized, the practice also represents bond holders and bond trustees in distressed debt situations, including defaults, workouts, restructurings, capital recoveries, and bankruptcies. For more information about Mintz Levin, please visit www.mintz.com. For more information about Bay Point Advisors, LLC, please visit http://www.bay-pointadvisors.com, or contact Charles Andros, 404-512-1648, [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20180208006302/en/ |
