Star Mountain Capital closed a $225 million asset-based leverage facility led by ING Capital. The lending group consists of ING, CIT, TIAA Bank, Axos Bank, East West Bank, Georgia Banking Company and Customers Bank.
The strength of the economic recovery pushed this past quarter’s national Citizens Business Conditions Index (CBCI) to 57, its highest reading in three years and up five points compared to last year. A reading above 50 is considered expansionary.
MoneyGram International closed a new $400 million senior secured term loan and a new undrawn revolving facility of $32.5 million, both pursuant to a new credit agreement with Bank of America as administrative agent.
Emerald Energy Venture, a joint venture of National Grid, secured an innovative $150 million portfolio revolving facility, with an accordion feature up to $250 million. SMBC was lead arranger, bookrunner, green loan coordinator, collateral and administrative agent.
Fifth Third Bank joined as lender with Capital One as agent and lender, to provide Rimini Street with a $90 million five-year senior secured credit facility. Fifth Third provided $30 million and Capital One provided $60 million.
Sprott Resource Lending provided Marathon Gold with a senior secured project financing facility of $185 million. Proceeds from the credit facility are to be used to fund the construction of the Valentine Gold Project.
Motus GI Holdings refinanced its debt and expanded its long-term credit facility with a new loan agreement with Kreos Capital for up to $12.0 million, which replaces its previous term loan agreement with Silicon Valley Bank.