Exal Corporation, located in Youngstown, Ohio, is part of an international group that manufactures extruded aluminum containers for a variety of industries. The Youngstown plant’s production capacity is nearly 400 million units annually. Growing demand necessitated a 170,000-square foot plant expansion.
The Value Provided:
Preserve Exal’s credit for capital equipment purchases.
Benefits of Working with us
DFA’s Jobs & Investment Fund (rated BBB+, S&P) fixed rate bonds have a low interest rate.
DFA helped secure additional low-interest financing from state sources.
Project Cost: $10.2 million for building expansion
$30 million for capital equipment
$3,000,000 – DFA Jobs & Investment Bond Fund bonds
$5,000,000 – ODOD Bonds
$2,000,000 – ODOD 166 Loan
$225,000 – Company Equity
$30,000,000 – Bank Financing
$ 40,225,000 – Total
DFA Fixed Rate Bonds: 5.75%
ODOD Enterprise Bonds: 5.40%
ODOD 166 Loan: 3.25%
The Development Finance Authority provided a $3 million taxable development revenue bond issue. Additional funding was obtained through an Ohio Department of Development Bond and a 166 Loan. Exal Corporation arranged separate bank financing of approximately $30 million for equipment.