Forward for Specialty Finance
Deal Summary
Oportun
$235,000,000
Senior Secured Term Loan
Castlelake, Neuberger Berman
Deal Notes:
Recapitalization of existing corporate financing facility to improve operational and balance sheet flexibility. The term loan will carry a 15% fixed rate and mature in Nov. 2028.
Includes warrants equal to 9.8% of the fully-diluted shares at an exercise price of $0.01 per share. The loan also provides the company with flexibility for pre-payment without penalties after specific dates. Lenders are entitled to board observer rights. Expected to close following customary conditions and the previously announced credit card portfolio sale.
