Vicon Industries’ Refinancing of Its Credit Facility with NIL Funding Corp.


Olshan advised Vicon Industries in the transaction

Vicon Industries, Inc. (OTCQB: VCON) negotiates the refinancing of its credit facility with NIL Funding Corporation, an institutional lender.

The new $5.6 million term loan, completed on an expedited basis on September 21, 2018, replaced the $5.8 million outstanding balance on its existing revolving line of credit.

The new loan is secured by a first priority security interest in substantially all of the assets of Vicon Industries and its subsidiaries.

Vicon Industries, Inc. designs, manufactures, assembles, and markets a wide range of closed-circuit television systems and system components. The company, led dy Saagar Govil, John M Badke and Bret M McGowan, in 2017 recorded $26.7 Million revenues.

Olshan Frome Wolosky advised Vicon Industries, Inc. on the deal with a team including Spencer Feldman (Picture), Jason Saltsberg, Johnathan Duncan and Sarah Matchett.

Involved fees earner: Spencer Feldman – Olshan Frome Wolosky LLP; Jason Saltsberg – Olshan Frome Wolosky LLP; Johnathan Duncan – Olshan Frome Wolosky LLP; Sarah Matchett – Olshan Frome Wolosky LLP;

Law Firms: Olshan Frome Wolosky LLP;

Clients: Vicon Industries, Inc. ;