Boston, MA, March 30, 2006 - NewStar Financial, Inc. ("NewStar"), a Boston-based specialty finance company, announces that it has provided a subordinated loan to a consumer loan-backed warehouse facility for Unicorn Financial Services ("Unicorn"). The facility was structured and arranged by Societe Generale, with Asset One Securitization, LLC as the senior conduit lender. In addition, NewStar has provided a secured term loan to Unicorn. These transactions support Unicorn's strategy of providing loans to consumers seeking elective dental and medical procedures.
Unicorn, founded in 1998, is a specialty finance company which originates, funds and services unsecured personal loans to purchase specified, pre-approved elective procedures from approved dentists and physicians. The Company is headquartered in Tallahassee, FL with offices in Chicago, IL and Mesa, AZ.
"NewStar is pleased to be backing a leading lender in this dynamic and growing sector of the consumer finance industry," said Buck Burnaman, managing director and head of structured products at NewStar. "Unicorn needed a flexible financing solution to support their growth strategy, and working closely with Unicorn's CFO and his team, we produced a solution that met their needs."
Joining Burnaman on the transaction deal team were Robert Clemmens, Thomas Calhoun, Robert Buzdon and Nicholas Edmonds.
About NewStar Financial, Inc.:
NewStar Financial, Inc. was formed in June 2004 by a group of senior banking and capital markets executives from leading financial institutions, including FleetBoston Financial, Citigroup and JP Morgan Chase, and leading institutional investors including Capital Z Partners, JP Morgan Corsair Capital Partners and Och-Ziff Capital Management Group. NewStar is focused exclusively on providing customized financing solutions to mid-sized borrowers in three lending groups: Middle Market Corporate, Commercial Real Estate, and Structured Products. For more information, please contact the appropriate individual below.
Gaffney Bennett Public Relations