NEW YORK, Aug. 31, 2016 (GLOBE NEWSWIRE) — PHI Group (www.phiglobal.com) (OTC Markets:PHIL), a U.S. diversified holding company engaged in mergers and acquisitions announced today that the Company has obtained a $15 million secured line of credit facility for acquisition financing from TCA Global Fund, a U.S. institutional fund.
Henry Fahman, Chairman and CEO of PHI Group, Inc., said, “Access to this credit facility will facilitate the Company’s ability to carry out its acquisition program of smaller targets in North America, especially to consummate an imminent transaction in the agricultural business in Northeastern U.S. We believe that the leverage that this facility affords us will enable us to minimize equity dilution compared to all-equity alternatives.”
Henry added: “”We plan to prudently utilize the facility to quickly conclude some pending transactions and take advantage of special situations otherwise not doable.”
PHI Group, Inc., a U.S. publicly traded company established in 1982, is engaged in mergers and acquisitions and in the process of acquiring controlling interest in a number of targets in select industries with intention to build a critical mass and uplist to a senior exchange as soon as practical.
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