NewtekOne’s wholly owned subsidiary, Newtek Merchant Solutions, refinanced its term debt facility and revolving line of credit. Private credit at Goldman Sachs Alternatives is providing NMS with a $90 million term loan facility and a $5 million line of credit. A portion of the proceeds funded the full repayment of NMS’s approximately $30 million of outstanding term debt with another lender. In addition, a $10 million undrawn line of credit with that lender was eliminated.
“We greatly appreciate Goldman Sachs Alternatives for being a great, long-term financing partner,” Barry Sloane, chairman, president and CEO of NewtekOne, said. “Several years ago, Goldman Sachs Alternatives was the primary debt provider to NMS and has now come full circle to once again support NMS and NewtekOne’s unique, technology-enabled operating model. The incremental funding will fund loans to the company and may be used by the Company to repay and reduce company outstanding unsecured senior debt and for other general corporate purposes.”
