First Capital recently completed a 3.5 year, $100 million term securitization via a Rule 144A private placement. The transaction closed on March 31.
The offering included a $90 million senior tranche rated 'AA' by DBRS and a subordinate tranche rated 'BBB'. Guggenheim Securities was the deal's initial purchaser.
"The securitization shows we can raise long term funding," said John Kiefer, chairman of First Capital. "The transaction makes us stronger than ever and, most importantly; gives us the resources to increase lending."
Structured Finance Advisors served as an advisor to First Capital in the term securitization.
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