Regions Bank provided a $75 million bi-lateral asset-backed facility for DextCapital.
The new facility increases Dext Capital’s borrowing capacity by an additional $75 million and, combined with an existing facility with Credit Suisse of $200 million, provides support for Dext’s continued growth and market expansion in the health and wellness markets.
“The Dext Capital team has deep industry knowledge and a proven ability to execute at a high level in the equipment leasing market,” Tom Dierdorff , managing director and financial services group head at Regions Bank, said. “We are excited to enter into a new financing arrangement with Dext Capital to support the company’s strong growth trajectory.”
“The new relationship with Regions Bank is another important milestone for Dext made possible by our strong portfolio performance during the COVID-19 pandemic. This new facility provides additional capacity for Dext to broaden its reach within the healthcare and wellness community,” Kyin Lok, CEO of Dext Capital, said. “We thank our customers and partners who have embraced Dext as a provider of choice and our team members who strive to serve our customers with greater speed, flexibility and transactional certainty.”
Dext Capital is a privately-owned independent equipment finance company founded by a team of industry veterans with financial sponsorship from Sightway Capital, a Two Sigma company.
