Essex Rental refinances with $30 million term debt facility due 2019

By Susanna Moon

Chicago, May 13 - Essex Rental Corp. said it closed a $30 million term debt facility to refinance a portion of its existing senior secured debt at its Essex Crane Rental Corp. subsidiary.

The refinancing extends the average duration of Essex Crane's debt maturities through 2019, requires no mandatory amortization payments through maturity and eliminates the step down in the revolving credit facility in March 2015, according to a company press release.

The term loan matures in 2019 and was provided by Medley Capital Corp.

Essex is a provider of rental and distribution for mobile cranes based in Buffalo Grove, Ill.

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