AFC has committed $29 million to a $60 million senior secured term loan. The proceeds from the credit facility, including $19.6 million funded by AFC at close, will be used to finance the acquisition of a healthcare benefits platform.
“We are excited to support a top-tier sponsor and management team in this transaction. The Platform has developed a comprehensive benefits program tailored toward a large and underserved segment of the workforce,” Daniel Neville, CEO of AFC, said. “This transaction underscores our ability to provide flexible, institutional capital to sponsors following our conversion to a BDC earlier this year.”
The credit facility is secured by a lien on all assets of the borrower and has a four-year term. AFC holds approximately 49% of the total facility.
