BMO, KeyBank Arrange $150MM NXT Capital Revolver Increase
NXT Capital announced its Equipment Finance Group increased its revolving credit facility from $150 million to $325 million.
This credit facility increase provides additional financing to support the growth of NXT’s equipment loan and lease portfolio.
BMO Capital Markets and KeyBank National Association acted as joint lead arrangers for this credit facility increase. As part of the increase, NXT received new lender commitments from Royal Bank of Canada, EverBank Commercial Finance, Capital One and The Huntington National Bank.
“NXT has built a strong reputation as a reliable and creative source of equipment financing for leveraged public or sponsor-owned companies,” said Michael Gay, senior managing director and group head of NXT Equipment Finance. “The recent upsizing further enhances our ability to support the future equipment financing needs of both new and existing clients.”
“We’re very thankful for the support that BMO Capital Markets and KeyBank have provided as we have expanded the business and the great working relationship we have built together,” said Neil Rudd, NXT’s chief financial officer. “We appreciate the confidence that the new members of our bank group have placed in our business and look forward to building a broader and deeper relationship with each of them over time.”