MIAMI, Dec. 28, 2010 /PRNewswire/ -- The Miami law firm, Novela Law, a preeminent advocate in domestic and international business transactions, represented The Legacy Companies in negotiating and closing a $12 Million domestic and EXIM credit facility with PNC Bank.
South Florida based business, The Legacy Companies and its affiliated companies are international manufacturers and distributors of commercial-grade kitchen and restaurant equipment to over 120 countries. Among numerous awards, The Legacy Companies received 2009 Exporter of the Year award from the publisher of Commercial News USA, the official export promotion magazine of the U.S. Commerce Department. Neal Asbury, President and CEO of The Legacy Companies, sought out Novela Law's expertise negotiating and closing the PNC Credit Facility. Daniel Novela, a partner at Novela Law, worked on closing the Credit Facility over a four month period.
Novela noted, "It has been a pleasure to represent The Legacy Companies for approximately 10 years. The difficult economic environment made the closing of any financing very difficult. Happily, this Credit Facility replaces an existing credit facility (at my client's former lender) with a significantly larger credit line, better credit terms and with an EXIM Bank portion to support my client's export growth."
About Novela Law
Novela Law is a boutique Miami law firm focused on complex business and real estate transactions requiring innovative legal solutions. The firm's corporate practice has included both domestic and international asset and stock purchases, merger agreements, corporate, project and acquisition finance, commercial finance, and counseling for ideal offshore corporate and trust structures. The firm is headquartered at its 1390 Brickell Ave. office in Miami, FL. Further information about the firm can be located at www.novelalaw.com.
SOURCE Novela Law