Asset backed lending

Leading Collateral Lender Borro Announces Key 2020 Accomplishments and Business Results

Retrieved on: 
Thursday, March 18, 2021

Borro , the leading provider of confidential, non-bank loans that use borrowers luxury assets as collateral, today announced key accomplishments and business results of its first calendar year of operations following its acquisition and relaunch by Luxury Asset Capital in early 2020.

Key Points: 
  • Borro , the leading provider of confidential, non-bank loans that use borrowers luxury assets as collateral, today announced key accomplishments and business results of its first calendar year of operations following its acquisition and relaunch by Luxury Asset Capital in early 2020.
  • Luxury Asset Capital and Borro are broadening the clientele benefiting from collateralized financing.
  • Borro provided a wide range of individual and business clients with fast and convenient financing during a period of significant economic upheaval.
  • Borro, a Luxury Asset Capital brand, is the leading provider of confidential, non-bank loans that use borrowers' luxury assets as collateral.

SiteOne Takes Actions to Increase Financial Flexibility

Retrieved on: 
Wednesday, April 1, 2020

SiteOne Landscape Supply, Inc. (NYSE: SITE) announced today actions to increase the Companys financial flexibility amid the ongoing coronavirus (COVID-19) situation.

Key Points: 
  • SiteOne Landscape Supply, Inc. (NYSE: SITE) announced today actions to increase the Companys financial flexibility amid the ongoing coronavirus (COVID-19) situation.
  • We believe that SiteOne has a solid balance sheet and liquidity, and we have no significant debt maturities until 2024.
  • However, given the uncertainty brought on by COVID-19 we have decided to enhance our cash position and increase our financial flexibility by borrowing on our Asset Backed Lending (ABL) Facility, said Doug Black, Chairman and CEO of SiteOne.
  • After the borrowing, SiteOne has approximately $117 million cash on hand and approximately $46 million in available capacity under its ABL Facility.