NewStar Financial Announces Renewal of Warehouse Line
BOSTON, Nov. 25, 2008 (GLOBE NEWSWIRE) -- NewStar Financial, Inc. (Nasdaq:NEWS) announced today that it has completed its previously announced renewal of its warehouse line with Citicorp North America, Inc. to, among other things, extend the maturity of the liquidity line to November 19, 2009, reduce the commitment amount to $300 million, and amend pricing and advance rates.
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.
The NewStar Financial, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4044
CONTACT: NewStar Financial
Colleen M. Banse
Brian J. Fischesser
(C) Copyright 2008 GlobeNewswire, Inc. All rights reserved.