MidCap Adds Financing Partners, Increases Debt Capacity
MidCap Financial, an independent commercial finance company focused exclusively on middle-market healthcare companies, announced that during the third quarter, it has obtained $160 million in credit commitments from six new lenders.
Two of the lenders joined MidCap’s existing asset-based loan credit facility, while the other four new lenders are dedicated to MidCap’s first mortgage seniors housing finance business.
These new commitments, together with MidCap’s existing credit facilities, bring MidCap’s total debt financing commitments to more than $1.2 billion from 23 different credit partners. Together with its equity capital commitments, MidCap now has in excess of $1.7 billion of financing capacity.
“We are certainly pleased with the support of these new financing partners,” said David Moore, MidCap’s CFO. “Their additional commitments further enhance our ability to originate loans in all four of our business lines, and we will utilize the additional capacity to continue addressing the credit needs of middle market healthcare companies.”