show menu
close menu
LinkedIn icon

NewStar Financial Completes $50 Million Notes Offering

Lending Capacity Increases to $2 Billion

Download pdf Download PDF


Boston, MA, April 25, 2005 - NewStar Financial, Inc. ("NewStar"), a Boston-based commercial finance company, announced today that it has completed a $50 million offering of long-term senior secured notes. With the capital from the offering, NewStar's lending capacity increases to $2 billion.



"Since our formation last June, our flexible and creative financing solutions have been well-received by customers and market participants alike," stated NewStar Chief Executive Officer Tim Conway. "To date, we have completed more than 30 transactions across the country totaling over $325 million in commitments, with an additional $200 million in process."



NewStar's recent transactions include:



  • A $23 million second lien term loan for Danly IEM, a wholly-owned subsidiary of Connell, L.P., to finance the acquisition of Anchor Lamina, Inc.
  • A $13.5 million senior secured credit facility for ZOOTS Corporation, a portfolio company of Charlesbank Capital Partners LLC and JP Morgan Partners, to refinance existing debt and to fund growth oriented capital expenditures
  • As Joint Lead Arranger, a $100 million senior secured credit facility for Bustos Media, LLC, a radio broadcasting company formed by Amador and John Bustos, Providence Equity Partners and Alta Communications to consolidate Spanish-language radio stations in U.S. Hispanic markets.



"We selected NewStar for their structuring expertise, insights, and ability to respond quickly. Their "can-do approach" and in-depth understanding of our business allowed us to close the acquisition with sufficient liquidity to support our operations going forward", said Frank Doyle, Chief Executive Officer of Connell, L.P.



Michael Eisenson, Chief Executive Officer of Charlesbank Capital Partners LLC added "We solicited proposals from several lenders, however, many of them were ultimately unable to put forth a thoughtful, viable deal. NewStar distinguished themselves by structuring a creative financing that worked best for us."



"NewStar's responsiveness, creativity and knowledge of the media sector make them an excellent partner" said Pat Brubaker, a General Partner of Alta Communications.



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.



Corporate Inquiries:
NewStar Financial
Scott Poirier
(617) 848-2525


Press-Related Inquiries:
Gaffney Bennett Public Relations
Chris Riley
(860) 690-0856



Hex divider blue

Copyright 2017 NewStar Financial, Inc. All Rights Reserved. Terms of use.