Telecom/Financing

Ultegra successfully secured an Asset-Based Lending (ABL) refinancing for a telecom company located in the Chicago metropolitan area. The company had never missed a payment, but breached a cash flow covenant of the loan terms.The original lender refused to renew ABL facility because of its concerns relating to the breach of the cash flow covenant. Ultegra was able to take out the bank and refinance the loan without substantially increasing the cost of capital.