Hana Financial secured a new $100 million factoring credit facility through an issuance of the series 2017-1 factoring contract backed notes.

The new credit facility by Hana Financial SPV I is a multi-tranche facility with $70 million allocated for term tranches and $30 million allocated for revolving tranches. This transaction replaces the existing credit facility for Hana Financial’s factoring business.

Guggenheim Securities acted as sole syndication agent and arranger, Jeffer, Mangels, Butler & Mitchell acted as legal counsel, and Alston & Bird acted as legal counsel for the syndication agent and arranger. For the new credit facility, CBIZ MHM acted as note agent and Wells Fargo Bank acted as custodian, backup servicer and note agent’s bank.

In conjunction with the refinancing, Hana Financial has reorganized its corporate structure, creating a new wholly-owned subsidiary, Hana Commercial Finance, for its factoring and asset-based lending units.