Armory Securities, LLC is pleased to announce that FreightCar America (NASDAQ: RAIL) closed $60 million of new financing. Armory served as exclusive financial advisor and placement agent to FreightCar America for the transaction.
FreightCar America is a premier railcar manufacturer, aftermarket parts supplier, and lessor to the North American railcar industry. Founded in 1901, there are 160,000+ Freightcar railcars in service today (~10% of North American fleet).
Amid an industry downturn followed by the COVID-19 pandemic, FreightCar America successfully raised new debt financing to provide meaningful liquidity to execute its manufacturing relocation from Alabama to Mexico and other core strategic initiatives. The new lenders provided a new 5-year $40 million senior secured term loan and a $20 million senior secured ABL revolver.
For information on this transaction or about Armory Securities, please contact one of the following deal team members:
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Armory Securities, a division of Armory Group, LLC, is a leading investment bank dedicated to helping middle market companies and their constituents. Armory Group, through its subsidiaries, provides investment banking services, asset management services and advisory services, including enterprise transformation and interim management, to middle market companies and their stakeholders. Learn more about Armory Group, and its subsidiaries, at www.armorygroupllc.com.
Armory Securities, LLC, member FINRA, Member SIPC