New York City–based diamond and jewelry manufacturer Eloquence Corp. completed a $21.1 million debt refinancing with Rosenthal & Rosenthal.
Daroth Capital Advisors acted as the financial advisor and placement agent for Eloquence in the transaction.
“Financing diamond and jewelry companies has become more difficult in the current environment of Dodd Frank regulations, enhanced compliance concerns, and a dearth of banks lending to this industry,” said Richard Werdiger of Eloquence Corp. in a statement, hailing what he calls Daroth’s creative approach.
The new loan consists of a revolving credit facility and gold lease and will be used to fund working capital and to refinance the company’s debt with its former lender.
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