Financing Event: Growth
PNC Deal Leader: Alistair Hood
Waterford Distillery (Waterford) has a clear and focused objective - to create the world’s most profound Single Malt. Waterford is the passion of a team with a strong track record of developing the concept of ‘terroir’ in the Whisky sector and behind the renaissance of some iconic Single Malts.
Since 2015 Waterford has layed down 4 million litres of terroir-derived Single Malt farm by farm. Now Waterford can share the fruits of its labours and its ‘über premium’ product is turning heads.
PNC’s new asset-based revolving line of credit facility delivers an increased funding line that allows the business to continue to build a wide portfolio of premium quality aged Malts and take full competitive advantage of the scarcity of the highest quality Whisky, sought by a highly discerning and growing global market.
Our first bottlings will be released in the Spring of 2020 and will showcase our unique approach to Single Malt Whisky world-wide. We have known PNC for some years. The team’s insight, flexibility and knowledge of our world is second to none. They immediately understood our ambition and delivered to plan with ease. We are delighted to have PNC at our side as we realise our exciting plans.
John Adams | Director, Waterford Distillery
*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured and second lien loans for sponsored and non-sponsored transactions.
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