We use the dealcard to tell you about our completed assignments. This gives you insight into our working method and cooperation with our various customers. This month the dealcard is about the assignment for MCB.
Orchard Finance was appointed by MCB in mid-2021 as a financing advisor to
to support the specialized metal wholesaler in the adjustment and extension of its asset-based financing agreement.
MCB is a metal wholesaler with core activities in the Netherlands, Belgium and Germany. MCB is characterized by a wide and deep range of steel, stainless steel, aluminum and non-ferrous metal. Every day, more than 900 enthusiastic employees work on strengthening the sustainable competitiveness of the manufacturing industry.
The market conditions and growth in the various business units of MCB have led to the need for more space and flexibility within the geographic parts of the group on the one hand and more room for setting up LCs on the other. Sustainability is an important pillar for MCB, whereby MCB wishes to prepare the financing agreement for the inclusion of a number of ESG KPIs and targets.
MCB has chosen to realize the desired changes and extensions with the existing banks under the supervision of Orchard Finance. In the process, MCB has achieved its objectives and secured its financing for five years plus two extension options.
''Orchard strives for a long-term relationship with its clients. We are therefore very pleased with our relationship with MCB, for which we have been able to act as a financing advisor since 2010. Together with MCB and its relationship banks, we have laid a solid foundation in a number of financing rounds. With this foundation, we were able to go through the refinancing process in a light and efficient process.”
- Rolf Michon, partner Orchard Finance