Merchant Financial Group, a provider of working capital solutions, expanded its existing credit facility from $372 million to $400 million to support the company’s growth and expansion of its financial services. The expansion involves a syndicate of 14 lenders, with IDB Bank operating as the administrative and collateral agent on the transaction. IDB has been a lender to Merchant since the group’s founding and has acted as its syndication agent since 2009.
“IDB is an established partner we could count on to engineer and guide a complex transaction,” Adam Winters, president and CEO of Merchant Financial Group, said. “Through long experience, we knew their syndication desk had the connections, expertise and responsiveness we count on to create dynamic opportunities for ourselves and our clients.”
“Our work with Merchant is a great example of what IDB’s syndication platform can accomplish,” Chris Dowd, senior vice president of IDB, said.
“With the resources we’ve committed, we’re able to execute on complex loan strategies that can support our clients’ growth,” Lissa Baum, executive vice president and chief lending officer at IDB, said.
