A Texas based business; with international headquarters in Weston, Florida, Montachem is a $350 Million in sales, international distributor of plastic resins with clients worldwide. Jerry Murcia, CEO of Montachem International, sought out Novela Law’s expertise negotiating and closing the PNC Credit Facility. Daniel Novela, a partner at Novela Law, worked on closing the Credit Facility over a one and a half month period.
Daniel Novela worked with Montachem and its lenders to improve the terms of an existing $30 Million credit facility. During the last two years we have represented Montachem in its initially credit agreement with PNC and in amending its credit agreements two times. Originally from $20 Million, to $30 Million and now to $40 Million. The difficult commercial credit environment makes the closing of any financing difficult. The fact that the lenders have been so accommodating is a testament to my client’s well run organization, tremendous growth and plain-old good negotiating. This line of credit replaces an existing credit facility with a significantly larger credit line and better credit terms. The improvements in this credit facility will allow my client to continue its impressive growth trend, acquire real estate, and increase its financing and liquidity options.
About Novela Law
Novela Law is a boutique Miami law firm focused on complex business and real estate transactions requiring innovative legal solutions. The firm’s corporate practice has included both domestic and international asset and stock purchases, merger agreements, corporate, project and acquisition finance, commercial finance, and counseling for ideal offshore corporate and trust structures. The firm is headquartered at its 1390 Brickell Ave. office in Miami, FL. Further information about the firm can be located at http://www.novelalaw.com.