CHICAGO, IL – NXT Capital, LLC (nxtcapital.com) announced today that it has increased its total debt financing capacity to $1.1 billion and expanded its senior secured revolving credit facility from $450 million to $650 million.
Agented by Wells Fargo Bank, NA and affiliates, this facility provides funding for NXT’s middle-market senior secured commercial loan portfolio. As part of the increase, NXT received commitments of $100 million from BMO Capital Markets (“BMO”) and $75 million from Key Corp. (“Key”). Existing lender and Co-Arranger SunTrust Bank and its affiliates increased their total commitment by $25 million to a total of $175 million.
“Upsizing the credit facility enhances our ability to capitalize on strong borrower demand for NXT’s financing capabilities and provides important additional diversification to our financing sources,” said Neil Rudd, NXT’s Chief Financial Officer.
“We are very pleased with the addition of BMO and Key to our bank group. Their support for NXT is a welcome endorsement of our platform and future prospects,” said Robert Radway, NXT’s Chairman and CEO. “We look forward to building a broader and deeper relationship with these organizations and our entire bank group as we continue to grow.”
NXT Capital provides structured financing solutions to middle-market and emerging growth companies and real estate investors through its Corporate Finance, Real Estate Finance and Venture Finance groups. Based in Chicago with offices in New York, Atlanta, Boston, Dallas, Newport Beach and Silicon Valley, NXT Capital targets senior financing opportunities of up to $150 million with a hold size up to $50 million. See nxtcapital.com for more information.