CHICAGO, IL – Middle market commercial finance company NXT Capital, LLC today announced the closing of a 5-year, $120 million senior secured term loan facility. An accordion feature will allow the company to increase the size of the facility as needed, issuing additional notes on a pari passu basis subject to compliance with certain financial covenants.
NXT Capital will use proceeds from this facility to finance portfolio growth, as well as for working capital and other general corporate purposes.
“Completing this transaction is an important milestone for NXT, and is consistent with our articulated objective of increasing and diversifying our available sources of capital,” said Robert Radway, NXT’s Chairman and CEO. “The term loan is an attractive source of long-term growth capital and we are appreciative of the investor support we have received.”
Wells Fargo Securities, LLC acted as lead arranger and sole lead bookrunner for the term loan. BMO Capital Markets Corp. and SunTrust Robinson Humphrey, Inc. served as joint lead arrangers.
NXT Capital provides structured financing solutions to middle-market and emerging growth companies, as well as real estate investors, through its Corporate Finance, Equipment Finance, Venture Finance and Real Estate Finance groups. Based in Chicago with offices in New York, Atlanta, Boston, Charlotte, Dallas, Phoenix, San Francisco and Silicon Valley, NXT Capital targets senior financing opportunities up to $150 million with a hold size up to $50 million.