Corcentric, a global provider of procurement and finance solutions, secured a $315 million senior credit facility. The capital raise consists of a $250 million senior secured asset-based loan revolver from Bank of America and JPMorgan Chase and a $65 million term loan from TCW Private Credit Group.
“Our ability to obtain this facility in today’s intensely difficult credit environment is a testament to the strength of our business model,” Matt Clark, president and COO at Corcentric, said. “As previously announced, our first quarter net revenue increased 20% compared to the prior year period, and under our new brand identity, we will only build upon this momentum. This new capital will allow us to continue to grow our book of business and achieve our goal to give every customer the individualized attention they deserve through best-in-class financial software and expert guidance.”
Stephens served as the financial advisor to Corcentric for this transaction.
