Boston, MA, May 27, 2005 - NewStar Financial, Inc. ("NewStar"), a Boston-based commercial finance company, announces that it has provided a $14.3 million senior financing for Trumper Communications, a radio broadcasting company based in Phoenix, Arizona.
NewStar was the sole lender for $14.3 million in senior credit facilities consisting of a $4.5 million revolving loan and a $9.8 million term loan to support equity investments from M/C Venture Partners, Providence Equity Partners, PepperTree Capital Management, and the management team for the purchase and development of a radio station, KVNA-FM, in Phoenix, Arizona.
"NewStar is thrilled to be working with Jeff Trumper, a highly regarded radio industry veteran and three exceptional equity sponsors in this deal," said NewStar Chief Executive Officer Tim Conway. "This deal required both our structuring expertise and broadcasting industry knowledge, and we were happy to be part of this successful transaction."
NewStar's deal team for the transaction included David Dobies, Andre Paquette, Robert Milordi, and Michael Purcell.
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