Pasadena Private Lending closes on new $50 Million institutional round and extends senior credit facility
Pasadena Private Lending (PPL) has secured significant financing through two key transactions: a new $50 million secured term loan with SLR Capital Partners and an amended $75 million Senior Credit Facility with East West Bank (EWBC). The EWBC facility, extended to July 2028, includes an increased advance rate from 65% to 70%.
The combined capital injection will enable PPL to expand its portfolio in the Owner-Guaranteed Business Loan market, capitalizing on current economic conditions where lower-middle market companies seek floating-rate credit from non-bank lenders. East West Bank, PPL's senior lender since 2021, has demonstrated strong growth in the specialty finance space.
Pasadena Private Lending (PPL) ha ottenuto un finanziamento significativo attraverso due operazioni chiave: un nuovo con SLR Capital Partners e un Facility di Credito Senior di 75 milioni di dollari modificato con East West Bank (EWBC). La struttura di EWBC, estesa fino a luglio 2028, include un tasso di anticipo aumentato dal 65% al 70%.
Il capitale combinato consentir脿 a PPL di espandere il proprio portafoglio nel mercato dei prestiti aziendali garantiti dai proprietari, capitalizzando sulle attuali condizioni economiche in cui le aziende di mercato medio-basso cercano credito a tasso variabile da prestatori non bancari. East West Bank, prestatore senior di PPL dal 2021, ha dimostrato una forte crescita nel settore della finanza specializzata.
Pasadena Private Lending (PPL) ha asegurado un financiamiento significativo a trav茅s de dos transacciones clave: un nuevo pr茅stamo a plazo garantizado de 50 millones de d贸lares con SLR Capital Partners y una Facilidad de Cr茅dito Senior de 75 millones de d贸lares modificada con East West Bank (EWBC). La facilidad de EWBC, extendida hasta julio de 2028, incluye una tasa de anticipo aumentada del 65% al 70%.
La inyecci贸n de capital combinada permitir谩 a PPL expandir su cartera en el mercado de Pr茅stamos Empresariales Garantizados por Propietarios, aprovechando las condiciones econ贸micas actuales donde las empresas de mercado medio-bajo buscan cr茅dito a tasa variable de prestamistas no bancarios. East West Bank, prestamista senior de PPL desde 2021, ha demostrado un fuerte crecimiento en el espacio de financiamiento especializado.
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Pasadena Private Lending (PPL) a obtenu un financement significatif gr芒ce 脿 deux transactions cl茅s : un nouveau pr锚t 脿 terme garanti de 50 millions de dollars avec SLR Capital Partners et une facilit茅 de cr茅dit senior de 75 millions de dollars modifi茅e avec East West Bank (EWBC). La facilit茅 EWBC, prolong茅e jusqu'en juillet 2028, inclut un taux d'avance augment茅 de 65 % 脿 70 %.
L'injection de capital combin茅e permettra 脿 PPL d'茅largir son portefeuille sur le march茅 des pr锚ts commerciaux garantis par des propri茅taires, en capitalisant sur les conditions 茅conomiques actuelles o霉 les entreprises de march茅 interm茅diaire inf茅rieur recherchent des cr茅dits 脿 taux variable aupr猫s de pr锚teurs non bancaires. East West Bank, pr锚teur senior de PPL depuis 2021, a d茅montr茅 une forte croissance dans le domaine du financement sp茅cialis茅.
Pasadena Private Lending (PPL) hat eine bedeutende Finanzierung durch zwei wichtige Transaktionen gesichert: ein neues gesichertes Term Darlehen 眉ber 50 Millionen Dollar mit SLR Capital Partners und eine ge盲nderte Senior Kreditfazilit盲t 眉ber 75 Millionen Dollar mit East West Bank (EWBC). Die EWBC-Fazilit盲t, die bis Juli 2028 verl盲ngert wurde, umfasst eine erh枚hte Auszahlungsquote von 65% auf 70%.
Die kombinierte Kapitalzufuhr wird es PPL erm枚glichen, sein Portfolio im Bereich der vom Eigent眉mer garantierten Gesch盲ftskredite zu erweitern und von den aktuellen wirtschaftlichen Bedingungen zu profitieren, in denen Unternehmen des unteren Mittelstands variabel verzinste Kredite von Nichtbankkreditgebern suchen. East West Bank, seit 2021 der Hauptkreditgeber von PPL, hat ein starkes Wachstum im Bereich der Spezialfinanzierung gezeigt.
- Secured substantial new financing totaling $125M through combined facilities
- Increased advance rate from 65% to 70% on EWBC facility
- Extended EWBC facility maturity to July 2028
- EWBC reports strong double-digit growth in specialty finance portfolio
- None.
Insights
East West Bank's extension and amendment of its
The timing is particularly noteworthy as the article mentions decreasing interest rates and economic uncertainties 鈥� conditions that typically compress traditional banking margins. By deepening this specialty finance relationship, EWBC is diversifying its revenue streams beyond conventional lending products at a critical time for the banking sector.
Most revealing is the comment from EWBC's Executive VP that their specialty finance portfolio has shown "strong double-digit growth year-in and year-out." This indicates EWBC has identified specialty finance as a meaningful growth driver in a challenging banking environment. As private credit continues gaining market share from traditional banks, EWBC appears well-positioned to participate in this evolution rather than being marginalized by it.
While the
This additional capital will enable PPL to increase its current portfolio and take advantage of favorable trends in the Owner-Guaranteed Business Loan market. As economic uncertainties surface and interest rates decrease, there is significant demand from lower-middle market companies to access floating-rate credit from creative and responsive non-bank lenders such as PPL.
Michael McAdams, CEO of PPL said: "We are excited to receive this influx of capital at a time when private credit is becoming commonplace and overtaking traditional banks as the engine of economic growth. We sincerely appreciate the confidence SLR and
Iain Whyte, Chairman of PPL and of Pasadena Private Financial Group added: "We welcome larger private credit brethren SLR to our capital stack and are excited to have their support and credit expertise for our continued expansion. Meanwhile,
Andrew Stein, Executive Vice President, Head of Commercial Banking and Specialty Finance Eastern Region of
Mark Parsa, Partner, SLR Capital Partners said: "SLR is excited to partner with the management team of PPL. We look forward to supporting PPL's growth and are excited to expand the strategic partnership by leveraging the expertise of PPL's strong team.
About Pasadena Private Lending
Pasadena Private Lending Inc. is a non-bank lender headquartered in
About SLR Capital Partners
Founded in 2006, SLR is a diversified middle market private credit solutions platform. The firm is an SEC-registered investment adviser and primarily invests in
About
For more information:
Pasadena Private Lending: [] (626) 993-9350, 2 North Lake Avenue, Suite 510,
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SOURCE Pasadena Private Financial Group
FAQ
What are the key terms of PPL's new financing arrangements with EWBC and SLR Capital Partners?
How will PPL use the new $125M in combined financing?
What changes were made to EWBC's credit facility terms with PPL?
How long has East West Bank (EWBC) been PPL's senior lender?
