NewStar Financial Announces Early Renewal of $400 million Warehouse Line
Boston, April 21, 2008 NewStar Financial, Inc. (NASDAQ: NEWS), a Boston-based specialty finance company, today announced that it has amended its $400 million warehouse credit facility with Wachovia to extend the effective maturity of the facility to April 2009 and incorporate an accordion feature, which will allow for potential future expansion of the facility up to $750 million. "Wachovia has been an important financial partner for NewStar since our inception and this transaction demonstrates their continued commitment to the Company," said Tim Conway, Chairman and Chief Executive Officer. "Renewing this facility early demonstrates our continued access to capital and reinforces the stability of our funding platform in this unsettled market environment."
About NewStar Financial, Inc.:
NewStar Financial (NASDAQ:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing senior secured debt financing for the acquisition or recapitalization of mid-sized companies and commercial real estate. NewStar originates loans directly through a team of experienced, senior bankers organized around key industry and market segments. The Company targets 'hold' positions of up to $20 million and selectively underwrites or arranges larger transactions for syndication to other lenders. NewStar is headquartered in Boston MA and has regional offices in Darien CT, Chicago IL, San Diego CA, and Charleston SC. For more detailed transaction and contact information, please
visit our website at www.newstarfin.com
Anne G. Bork
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