Reported Earlier, Oportun Enhances Capital Structure With $235M Term Loan To Strengthen Profitability And Balance Sheet Flexibility
Reported Earlier, Oportun Enhances Capital Structure With $235M Term Loan To Strengthen Profitability And Balance Sheet Flexibility
Following an extensive review of a range of alternatives led by the Board of Directors, Oportun has entered into a Credit Agreement to refinance its existing corporate financing facility with a new $235 million Senior Secured Term Loan ("Term Loan"). The refinancing will improve Oportun's operational and balance sheet flexibility with covenants that reflect the performance improvements made by the Company to date, including the agreement to sell the Company's credit card portfolio, and reward accretive actions and cash flow generation. The Term Loan will be provided by two firms (the "Lenders"), funds managed by Castlelake L.P., a global alternative investment manager specializing in asset-based private credit that led the refinancing, and funds managed by Neuberger Berman, a private employee-owned investment manager. The Term Loan will carry a 15% fixed rate and mature in November 2028.
经董事会进行的一系列备选方案广泛审查后，Oportun已签署了一项信贷协议，用新的$23500万优先担保期限贷款（"期限贷款"）来再融资其现有的公司融资设施。再融资将通过反映公司迄今为止所做的绩效改进的契约，包括卖出公司的信用卡组合，并奖励有益的行动和现金流生成，改善Oportun的运营和资产负债表灵活性。期限贷款将由两家公司（"放款人"）提供，一家是领导再融资的专门从事基于资产的私人信用的全球替代投资经理机构Castlelake L.P.的管理的基金，另一家是私人员工持有的投资管理公司Neuberger Berman管理的基金。期限贷款将按照固定15%的利率提供，并于2028年11月到期。
