Pasadena Private Lending closes on new $50 Million institutional round and extends senior credit facility
Pasadena Private Lending (PPL) has secured significant financing through two key transactions: a new $50 million secured term loan with SLR Capital Partners and an amended $75 million Senior Credit Facility with East West Bank (EWBC). The EWBC facility, extended to July 2028, includes an increased advance rate from 65% to 70%.
The combined capital injection will enable PPL to expand its portfolio in the Owner-Guaranteed Business Loan market, capitalizing on current economic conditions where lower-middle market companies seek floating-rate credit from non-bank lenders. East West Bank, PPL's senior lender since 2021, has demonstrated strong growth in the specialty finance space.
Pasadena Private Lending (PPL) ha ottenuto un finanziamento significativo attraverso due operazioni chiave: un nuovo con SLR Capital Partners e un Facility di Credito Senior di 75 milioni di dollari modificato con East West Bank (EWBC). La struttura di EWBC, estesa fino a luglio 2028, include un tasso di anticipo aumentato dal 65% al 70%.
Il capitale combinato consentirà a PPL di espandere il proprio portafoglio nel mercato dei prestiti aziendali garantiti dai proprietari, capitalizzando sulle attuali condizioni economiche in cui le aziende di mercato medio-basso cercano credito a tasso variabile da prestatori non bancari. East West Bank, prestatore senior di PPL dal 2021, ha dimostrato una forte crescita nel settore della finanza specializzata.
Pasadena Private Lending (PPL) ha asegurado un financiamiento significativo a través de dos transacciones clave: un nuevo préstamo a plazo garantizado de 50 millones de dólares con SLR Capital Partners y una Facilidad de Crédito Senior de 75 millones de dólares modificada con East West Bank (EWBC). La facilidad de EWBC, extendida hasta julio de 2028, incluye una tasa de anticipo aumentada del 65% al 70%.
La inyección de capital combinada permitirá a PPL expandir su cartera en el mercado de Préstamos Empresariales Garantizados por Propietarios, aprovechando las condiciones económicas actuales donde las empresas de mercado medio-bajo buscan crédito a tasa variable de prestamistas no bancarios. East West Bank, prestamista senior de PPL desde 2021, ha demostrado un fuerte crecimiento en el espacio de financiamiento especializado.
파사데나 프라이빗 렌딩 (PPL)은 두 가지 주요 거래를 통해 상당한 자금을 확보했습니다: SLR 캐피탈 파트너스와의 새로운 5천만 달러 보장 대출과 East West Bank (EWBC)와의 수정된 7천5백만 달러 시니어 신용 시설입니다. EWBC 시설은 2028년 7월까지 연장되며, 선지급 비율이 65%에서 70%로 증가했습니다.
결합된 자본 주입은 PPL이 소유자 보장 비즈니스 대출 시장에서 포트폴리오를 확장할 수 있게 하여, 중하위 시장의 기업들이 비은행 대출자로부터 변동 금리 신용을 찾는 현재의 경제적 조건을 활용할 수 있게 합니다. 2021년부터 PPL의 주요 대출자인 East West Bank는 전문 금융 분야에서 강력한 성장을 보여주었습니다.
Pasadena Private Lending (PPL) a obtenu un financement significatif grâce à deux transactions clés : un nouveau prêt à terme garanti de 50 millions de dollars avec SLR Capital Partners et une facilité de crédit senior de 75 millions de dollars modifiée avec East West Bank (EWBC). La facilité EWBC, prolongée jusqu'en juillet 2028, inclut un taux d'avance augmenté de 65 % à 70 %.
L'injection de capital combinée permettra à PPL d'élargir son portefeuille sur le marché des prêts commerciaux garantis par des propriétaires, en capitalisant sur les conditions économiques actuelles où les entreprises de marché intermédiaire inférieur recherchent des crédits à taux variable auprès de prêteurs non bancaires. East West Bank, prêteur senior de PPL depuis 2021, a démontré une forte croissance dans le domaine du financement spécialisé.
Pasadena Private Lending (PPL) hat eine bedeutende Finanzierung durch zwei wichtige Transaktionen gesichert: ein neues gesichertes Term Darlehen über 50 Millionen Dollar mit SLR Capital Partners und eine geänderte Senior Kreditfazilität über 75 Millionen Dollar mit East West Bank (EWBC). Die EWBC-Fazilität, die bis Juli 2028 verlängert wurde, umfasst eine erhöhte Auszahlungsquote von 65% auf 70%.
Die kombinierte Kapitalzufuhr wird es PPL ermöglichen, sein Portfolio im Bereich der vom Eigentümer garantierten Geschäftskredite zu erweitern und von den aktuellen wirtschaftlichen Bedingungen zu profitieren, in denen Unternehmen des unteren Mittelstands variabel verzinste Kredite von Nichtbankkreditgebern suchen. East West Bank, seit 2021 der Hauptkreditgeber von PPL, hat ein starkes Wachstum im Bereich der Spezialfinanzierung gezeigt.
- Secured substantial new financing totaling $125M through combined facilities
- Increased advance rate from 65% to 70% on EWBC facility
- Extended EWBC facility maturity to July 2028
- EWBC reports strong double-digit growth in specialty finance portfolio
- None.
Insights
East West Bank's extension and amendment of its
The timing is particularly noteworthy as the article mentions decreasing interest rates and economic uncertainties – conditions that typically compress traditional banking margins. By deepening this specialty finance relationship, EWBC is diversifying its revenue streams beyond conventional lending products at a critical time for the banking sector.
Most revealing is the comment from EWBC's Executive VP that their specialty finance portfolio has shown "strong double-digit growth year-in and year-out." This indicates EWBC has identified specialty finance as a meaningful growth driver in a challenging banking environment. As private credit continues gaining market share from traditional banks, EWBC appears well-positioned to participate in this evolution rather than being marginalized by it.
While the
This additional capital will enable PPL to increase its current portfolio and take advantage of favorable trends in the Owner-Guaranteed Business Loan market. As economic uncertainties surface and interest rates decrease, there is significant demand from lower-middle market companies to access floating-rate credit from creative and responsive non-bank lenders such as PPL.
Michael McAdams, CEO of PPL said: "We are excited to receive this influx of capital at a time when private credit is becoming commonplace and overtaking traditional banks as the engine of economic growth. We sincerely appreciate the confidence SLR and
Iain Whyte, Chairman of PPL and of Pasadena Private Financial Group added: "We welcome larger private credit brethren SLR to our capital stack and are excited to have their support and credit expertise for our continued expansion. Meanwhile,
Andrew Stein, Executive Vice President, Head of Commercial Banking and Specialty Finance Eastern Region of
Mark Parsa, Partner, SLR Capital Partners said: "SLR is excited to partner with the management team of PPL. We look forward to supporting PPL's growth and are excited to expand the strategic partnership by leveraging the expertise of PPL's strong team.
About Pasadena Private Lending
Pasadena Private Lending Inc. is a non-bank lender headquartered in
About SLR Capital Partners
Founded in 2006, SLR is a diversified middle market private credit solutions platform. The firm is an SEC-registered investment adviser and primarily invests in
About
For more information:
Pasadena Private Lending: [www.pasadena-private-lending.com] (626) 993-9350, 2 North Lake Avenue, Suite 510,
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SOURCE Pasadena Private Financial Group
FAQ
What are the key terms of PPL's new financing arrangements with EWBC and SLR Capital Partners?
How will PPL use the new $125M in combined financing?
What changes were made to EWBC's credit facility terms with PPL?
How long has East West Bank (EWBC) been PPL's senior lender?
