Key Developments: NewStar Financial Inc (NEWS.DF)
12.11USD
17 May 2013
$-0.03 (-0.25%)
$12.14
$12.06
$12.11
$11.86
8,889
9,801
$14.76
$10.48
Latest Key Developments (Source: Significant Developments)
Newstar Financial Inc Amends Credit Facility To Increase Size To $175 Million And Extend Maturity
Newstar Financial Inc announced that it has amended its existing credit facility with Wells Fargo to increase its size by $25 million to $175 million and extend its reinvestment period and final maturity by three years among other things. The credit facility will be used to provide additional new lending capacity to support growing middle market loan volume originated by NewStar's Leveraged Finance group. Wells Fargo Securities syndicated the credit facility and serves as Administrative Agent. Full Article
NewStar Financial, Inc. Adds $150 Million Credit Facility To Support Continued Loan Growth
NewStar Financial, Inc. announced that it has closed a $150 million secured credit facility through a financing subsidiary known as NewStar Commercial Funding 2012-1 LLC with an affiliate of Natixis Financial Products LLC. The proceeds will be used to refinance loan collateral previously funded in the Company's 2009-1 CLO, as well as other facilities, and provide new lending capacity to support growing loan origination volume. The credit facility is NewStar's fifth warehouse credit line and brings total warehouse borrowing capacity to $650 million, which is expected to satisfy the Company's short-term funding requirements for loan growth in 2012. Full Article
NewStar Financial, Inc. Comments On FY 2012 Earnings Guidance-Conference Call
NewStar Financial, Inc. announced that operating trends are positive and that encouraged about ability to significantly improve earnings and returns in fiscal 2012. Full Article
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