Apr 7, 2014
8:00am

PITTSBURGH, April 7, 2014 - PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC) today announced the closing of $25 million in senior secured financing for Keywell Metals LLC, based in Chicago, Ill. The transaction includes a $20 million asset-based revolver, a $5 million term loan and treasury management services. The funds assisted in the acquisition of the assets of SGK Ventures, LLC (formerly Keywell, L.L.C.) by Prophet Equity, and will provide for ongoing working capital financing.

Keywell Metals LLC is a leading supplier of recycled titanium, high-temperature alloys and stainless steel in North America.

The PNC Financial Services Group, Inc. (www.pnc.com) is one of the United States' largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.


CONTACT:                            

Timothy Stokes
(412) 762-0278
timothy.stokesjr@pnc.com

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