Chicago, Illinois – NXT Capital, LLC today announced that its senior secured term and revolving loan facility has increased from $350 million to $425 million with the issuance of an additional $75 million term loan.
“The term loan is an attractive source of long-term growth capital and we appreciate investors’ very favorable response to this increase and their continued support of NXT’s business,” said Tom Bax, Managing Director, Treasurer of NXT Capital. “The proceeds from this upsizing will be utilized for general corporate purposes, including a distribution to shareholders of NXT Capital. NXT Capital continues to maintain a prudent liquidity and leverage profile as noted by Moody’s and Standard & Poor’s when they re-affirmed their ratings of NXT in conjunction with this transaction.”
Royal Bank of Canada and SunTrust Robinson Humphrey served as joint lead arrangers and bookrunners for the transaction.
NXT Capital provides structured financing solutions to middle market companies and commercial real estate investors through its Corporate Finance and Real Estate Finance groups. NXT Capital’s Corporate Finance Group is a leading originator of cash flow-based financing solutions to middle-market companies, including senior, stretch senior, unitranche and second lien products. NXT’s Real Estate Finance Group provides non-recourse first mortgages to experienced investors to finance institutional quality properties in major markets. NXT Capital also provides investment advisory services through its wholly-owned subsidiary NXT Capital Investment Advisers, LLC, an investment adviser registered with the Securities and Exchange Commission. Investment offerings include levered and unlevered funds, separately managed accounts and CLOs.