The Charter Group completes placement of $55 million senior secured debt package for Merrill Technologies Group

March 2, 2013 – Mlive

A $55 million debt package, or secured loan, is making room for Saginaw County’s Merrill Technologies to grow. The Charter Group recently completed the $55 million senior secured debt package for the company, which includes Merrill Fabricators, Merrill Engineering and Integration, Merrill Aviation and Merrill Tool and Machine.

“Charter’s transaction process and lender contacts were essential to the success and economic impact of our recapitalization,” said Mike Beyer, chief financial officer of Merrill Technologies Group. “Through the efforts of the Charter team, we secured financing that met all of our objectives and will save us a significant amount in annual interest expense. The end result is a flexible capital structure that allows Merrill to grow aggressively in the coming years.” more
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