Corcentric secures $315 million senior credit facility

By Marisa Wong

Los Angeles, June 13 – Corcentric, Inc. announced it secured a new $315 million senior credit facility. The capital raise consists of a $250 million senior secured asset-based revolver from Bank of America and JPMorgan Chase & Co. and a $65 million term loan from TCW Private Credit Group, according to a press release.

Funds will be used for general business growth and to support Corcentric’s managed accounts receivable services.

Stephens Inc. was financial advisor to Corcentric for the transaction.

Cherry Hill, N.J.-based Corcentric is a provider of procurement and finance services.

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