National Funding secures $55 million corporate note financing

By Marisa Wong

Los Angeles, Oct. 12 – National Funding, LLC announced it secured a $55 million investment-grade corporate note financing from a consortium of institutional investors.

The transaction was assigned a BBB+ rating by a nationally recognized statistical ratings organization, according to a press release.

The company said that having closed this additional financing, it is well positioned to support its partners, and the funding enhances its ability to take advantage of significant market opportunities.

Brean Capital, LLC acted as placement agent.

Concurrently, the company announced the recent renewal and upsize of a $60 million senior secured warehouse line of credit. The facility, which includes an accordion to expand to $75 million, was provided by a U.S.-based commercial bank.

The facility will continue to be used by the company to fund new originations and support additional growth.

National Funding is a San Diego-based specialty finance company for small- and medium-sized businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.