Westlake Securities Secures Expanded Senior Credit Facility for SolvChem with Amegy Bank
Westlake Securities announced that it acted as exclusive financial advisor to SolvChem in securing an expanded senior credit facility from Amegy Bank, a division of Zions Bancorporation (NASDAQ: ZION), to fund SolvChem’s growth.
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Westlake Securities announced that it acted as exclusive financial advisor to SolvChem in securing an expanded senior credit facility from Amegy Bank, a division of Zions Bancorporation (NASDAQ: ZION), to fund SolvChem’s growth. The structure combines advancing term loans for constructing and equipping new production capacity with expanded revolving credit to support ongoing organic growth. This represents Westlake’s second transaction with SolvChem and is described as a multi-facility credit structure tied to a significant capital project. The release also highlights Amegy Bank’s Texas footprint, $14 billion in assets, and Westlake’s $6.7 billion in completed transactions.
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News Market Reaction – ZION
On Aug 18, the day this news came out, ZION closed 0.91% below the previous close. Our momentum scanner recorded 2 alerts in the available session data. Relative volume reached 1.8x the daily average during tracking.
Data tracked by StockTitan Argus for the Aug 18 session.
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The expanded structure includes advancing term loans that fund the construction and equipping of new production capacity as the project progresses, alongside expanded revolving capacity to support the Company's continued organic growth.
"Expanding this facility was the natural next step in our growth plan. This commitment gives us the capital to keep investing in our capacity and our customers," said Jean-Pierre Baizán, CEO of SolvChem. "Westlake's understanding of our business and their expertise in project finance made this another smooth process from start to finish."
"Closing a second transaction with SolvChem, this time a multi-facility credit structure built around a significant capital project, says everything about the strength of our relationship with the Company and our commitment to serving our clients," said Jon D'Andrea, Managing Director at Westlake Securities. "Jean-Pierre and his team have built a remarkable business, and we look forward to supporting their continued growth."
For more information regarding this transaction or Westlake Securities' advisory services, please contact info@westlakesecurities.com.
About SolvChem
SolvChem, Inc. is a leading diversified chemicals company headquartered in
About Amegy Bank
Amegy Bank, a division of Zions Bancorporation, N.A. (NASDAQ: ZION), is a leading
About Westlake Securities
Westlake Securities is an award-winning middle-market investment bank founded in 2003 and based in Austin, Texas. The firm has closed over
View original content:https://www.prnewswire.com/news-releases/westlake-securities-secures-expanded-senior-credit-facility-for-solvchem-with-amegy-bank-302853770.html
SOURCE WESTLAKE SECURITIES, LLC
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