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  • 2004

Nov 29, 2004

NewStar Financial Joins in The Recapitalization Of Angelle Congrete Group

Boston, MA, November 30, 2004 – NewStar Financial, Inc. (“NewStar”), a Boston-based commercial finance company, announces that it has provided recapitalization financing to Angelle Concrete Group, LLC, a leading regional importer and distributor of cement and concrete located in the southeastern United States. Angelle Concrete is owned by Shoreview Industries, an independent private equity fund that invests in middle-market manufacturing, distribution and service businesses in North America.

NewStar provided $14 million of the $42 million in credit facilities comprising a $9 million revolving loan, a $20 million term loan A, a $11 million term loan B, and a $2 million CAPEX facility for the recapitalization. NewStar also served as Documentation Agent for the transaction. NewStar shared the deal with Harris Nesbitt and JP Morgan equally.

“This project required NewStar to work quickly and effectively to meet the aggressive timeline required by the nature of the transaction,” said Tim Conway, Chief Executive Officer of NewStar. “Working with our partners on this deal, NewStar met this challenge and provided our client with the solution they needed.”

NewStar’s deal team for the transaction included Tim Shoyer, Paul Holian, Pem Covington and Michael Purcell.

The Angelle Group of Louisiana, founded in 1970, is a leading importer and supplier of cement in the southeast and a producer and supplier of ready-mix concrete.

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
Annie Donnelly
(860) 416-1365

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Nov 17, 2004

NewStar Financial Purchases Subordinated Note From Charming Shoppes, Inc.

Boston, MA, November 18, 2004 – NewStar Financial, Inc. (“NewStar”), a Boston-based commercial finance company, announces that it has provided financing to Charming Shoppes, Inc. (“Charming”) as part of a $100 million credit card receivables transaction. The transaction supports Charming’s retail credit card business. NewStar purchased a $10.5 million note that Charming had previously retained on its balance sheet.

Buck Burnaman, Managing Director of NewStar commented “Charming’s management was receptive to our innovative structure which enabled them to monetize a balance sheet asset to obtain additional liquidity.”

NewStar’s deal team for the transaction included Tom Calhoun, Samuel Belu-John, and Cyrus Zahedi.

Charming Shoppes, Inc. operates 2,250 stores in 48 states under the names Lane Bryant®, Fashion Bug®, Fashion Bug Plus®, and Catherines Plus Sizes®.

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
Annie Donnelly
(860) 416-1365

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Oct 29, 2004

NewStar Financial Funds $8.65 Million Acquisition and Lease Loan in Connecticut

Boston, MA, October 29, 2004 - NewStar Financial, Inc. (“NewStar”), a Boston-based commercial finance company has funded, as sole lender, an $8,650,000 senior mortgage for the acquisition and lease-up of 455 Winding Brook Road, a newly constructed 86,000 square-foot office building in Glastonbury, Connecticut. The bridge loan was provided to Abbey Road Advisors, LLC of Westport, Connecticut, to acquire the property.

The NewStar loan provided non-recourse floating rate financing for 71% of the purchase price and included a future commitment for 100% of budgeted tenant improvement and leasing costs, as well as operating costs and debt service until breakeven leasing is achieved. The three-year loan provides flexible pre-payment options so that Abbey Road can assess its capital markets options as the property reaches greater stabilization.

“NewStar understood our client’s strategy, tailored an approach to meet their needs, and then delivered a solution within the necessary timeframe,” said Dan Adkinson, head of real estate for NewStar. “This transaction was a perfect fit: a quality asset in the Winding Brook property, a value-added borrower in Abbey Road Advisors, and NewStar’s expertise and flexibility.”

NewStar’s deal team for the transaction included Jim Korinek, Gregg Delany and Gabe Pozo.

Abbey Road Advisors completed its third acquisition with the Winding Brook transaction. HFF LP of Hartford, Connecticut represented Abbey Road in arranging the financing. CB Richard Ellis, Inc. has been selected by the new owners to continue the leasing of 455 Winding Brook.

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
Annie Donnelly
(860) 416-1365

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Jul 21, 2004

NewStar Launches With $660 Million in Capital To Finance Corporate Middle Market, Commercial Real Estate And Asset-Backed Securities Sectors

Boston, MA, July 21, 2004 – NewStar Financial, Inc., a Boston-based commercial finance company, announced today that it has raised $660 million in capital to provide financing to mid-sized corporations, commercial real estate borrowers and issuers of asset-backed securities. The financing consists of $210 million of equity and $450 million of debt. Capital Z Financial Services Fund II, L.P. (“Capital Z”) and JP Morgan Corsair II Capital Partners, L.P. (“JP Morgan Corsair”) sponsored the formation of NewStar and led the Company’s equity financing, with additional commitments provided by other leading institutional investors and management. Wachovia Capital Markets will lead NewStar’s debt financing with CDC IXIS Capital Markets.

The Company will originate senior and subordinated debt financings through a direct calling effort, often in conjunction with other lenders, including commercial banks and finance companies.

“NewStar will target three large, high-growth middle market sectors. We will provide capital directly to our customers and as a value-added partner to a borrower’s existing lender,” stated Timothy J. Conway, Chief Executive Officer of NewStar. “We anticipate providing up to $5 billion of capital to our customers over the next five years. Our first loan is set to close next week and we have over a dozen more in the credit approval process.”

Mr. Conway, formerly a senior executive with Citigroup and FleetBoston, and Chief Investment Officer Peter Schmidt-Fellner, a founder and former Co-Head of the High Yield Group at JP Morgan Chase, will lead the firm. Mr. Conway and Mr. Schmidt-Fellner were previously colleagues at Citigroup.

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
Annie Donnelly
(860) 416-1365

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