Texas Capital Closes StoneCastle Facility
StoneCastle Financial announced it has closed an additional $25 million revolving credit facility for a total commitment of $70 million.
The facility closed on January 16, 2015 and has a stated maturity date of June 2019. The revolver was led by Texas Capital Bank.
“The facility will be secured by substantially all of the assets of the company. The use of proceeds will facilitate StoneCastle Financial’s continued investment in attractive community banks,” said Joshua Siegel, chairman and chief executive officer.