Encina Business Credit, LLC (EBC) announced that it has provided a $23 million senior secured credit facility to Tejas Tubular Products, Inc. and certain of its affiliates (Tejas).
The financing, which is comprised of a revolving line of credit and a term loan, will be used to refinance certain of the company’s existing indebtedness and to provide working capital for growth.
Based in Houston,Tejas manufactures and supplies oil country tubular goods for the petroleum industry. The company offers a complete range of OCTG products serving conventional, offshore and unconventional field projects.
source: Manufacturing via ABL Advisor