Business Capital has secured an $8.5 million DIP loan for Pacific Steel Casting, one of the largest independent steel casting companies in the U.S. that makes carbon, low-alloy and stainless steel castings for U.S. and international customers, largely for heavy-duty trucks and construction equipment, ABLAdvisor.com reported yesterday. PSC, a major employer based in Berkeley, Calif., since 1934, is in its fourth generation of ownership. The company recently filed for chapter 11 protection to enable it to restructure its liabilities and remain in operation.
