NewStar Financial Provides $6.5 Million Subordinated Loan For SunBridge Capital
NewStar works with DZ Bank in senior-subordinated warehouse transaction
Boston, MA, November 22, 2006 NewStar Financial, Inc. ("NewStar"), a Boston-based specialty finance company, announces that it has provided a five-year $6.5 million subordinated loan to a commercial paper facility backed by equipment lease receivables for SunBridge Capital, Inc. ("SunBridge"). The subordinated loan will amend and increase an existing 5-year $75.0 million securitized warehouse facility which Deutsche Zentral-Genossenschaftsbank AG, as senior conduit lender, closed with SunBridge in November 2005, and provides SunBridge with capital to support its growing origination volume. In addition, the loan also contains a feature that allows it to be increased if certain future conditions are reached. SunBridge, based in Mission, KS, is a 9-year old privately held specialty commercial finance company engaged in the origination, funding, and servicing of equipment leases for the titled vehicle and construction industry throughout the United States."We were impressed with SunBridge's knowledge of the equipment leasing industry and their flexible and efficient method of underwriting and executing transactions," said Buck Burnaman, managing director and head of Structured Products at NewStar. "We look forward to conducting additional business with SunBridge in the future." The transaction team included Thomas Calhoun, Mark Douglass, 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 market executives from leading financial institutions, including FleetBoston Financial Group, 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