CFG Merchant Solutions (CFGMS), a technology-enabled specialty finance and alternative funding provider, closed a $20 million investment-grade rated corporate note financing from a group of U.S.-based institutional investors. The transaction was assigned a BBB rating by a nationally recognized statistical ratings organization.
The company plans to use proceeds from the issuance to refinance a portion of existing debt and support continued growth of the business.
“Across the U.S. there are millions of healthy SMBs looking for financing to grow. This sector, however, is increasingly under-served by traditional financial institutions,” Andrew Coon, CEO of CFGMS, said. “This transaction will provide CFGMS with additional flexibility and enable the company to continue to grow our business and deliver valuable capital to customers.”
“Given the volatile capital markets, the successful closing of this transaction demonstrates that institutional investors have confidence in our platform and financial performance, and expect to see continued growth,” Bill Gallagher, president of CFGMS, said. “This credit investment significantly increases our funding capabilities and enhances our ability to take advantage of potential market opportunities.”
Brean Capital served as the company’s exclusive financial advisor and sole placement agent in connection with the transaction.
