Bank of America Business Capital loans $50 million to Agilysys

Bank of America Business Capital, one of the world’s largest asset-based lenders, has announced today that it provided a $50 million assed-based loan to Agilysys, Inc., a leading provider of IT solutions. The senior secured credit facility provides flexibility to fund a variety of investments including, but not limited to, working capital, capital expenditures and acquisitions. Agilysys also got from Bank of America the letters of credit as well as treasury management products and services. Martin Ellis, president and CEO of Agilysys, said: “The new credit agreement enhances our strong working capital position and further increases our financial flexibility.” Bank of America Business Capital West Division Executive John Mostofi, said: “We structured an asset-based loan that would give Agilysys the liquidity to continue to grow its business. We were also pleased to provide Agilysys with our personalized service and extensive array of financial products.” Bank of America Business Capital provides companies with senior secured loans, cash management, interest rate and foreign exchange risk management, and a broad array of capital markets products. Capital markets and investment banking services are provided by Banc of America Securities LLC, member NYSE/NASD/SIPC, a subsidiary of Bank of America Corporation and an affiliate of Bank of America Business Capital.