Content about Asset-backed security

June 30, 2014

Charles & Colvard Ltd. has closed a new three-year $10 million asset-backed credit facility with Wells Fargo Bank.

Morrisville, N.C. - Charles & Colvard Ltd. has closed a new three-year $10 million asset-backed credit facility with Wells Fargo Bank. The company’s previous credit facility with PNC Bank was terminated.

The new credit facility provides Charles & Colvard working capital for general corporate purposes and to pursue continued growth opportunities and is secured by Charles & Colvard assets. The company currently does not have any other long-term debt and the new credit facility is undrawn.

 

September 27, 2011

Lending to retailers is once again on the rise, as capital flows back into the market and retailers that stayed afloat during the recession look to strengthen their competitive positions. During the economic downturn, the more nimble and savvy retailers cut costs, reduced inventory levels, renegotiated leases and closed underperforming stores.