Atlanticus Holdings Corporation Closes $100 Million Revolving Credit Facility with Credit Suisse to Support the Fortiva® Brand
Atlanticus Holdings Corporation Closes $100 Million Revolving Credit Facility with Credit Suisse to Support the Fortiva® Brand |
[26-June-2018] |
ATLANTA, June 26, 2018 /PRNewswire/ -- Atlanticus Holdings Corporation (NASDAQ: ATLC) ("Atlanticus", "we", "our" or "us"), a technology enabled consumer finance company, today announced the closing of a $100 million asset-backed, revolving credit facility with Credit Suisse AG, Cayman Islands Branch, a leading financial services provider. The new facility allows for a total of $190 million in committed debt capital (when combined with existing facilities) to fund our investments in Fortiva® branded general-purpose credit card receivables.
Atlanticus Holdings Corporation (NASDAQ: ATLC) ("Atlanticus", "we", "our" or "us"), a technology enabled consumer finance company, today announced the closing of a $100 million asset-backed, revolving credit facility with Credit Suisse AG, Cayman Islands Branch, a leading financial services provider. The new facility allows for a total of $190 million in committed debt capital (when combined with existing facilities) to fund our investments in Fortiva® branded general-purpose credit card receivables. The revolving credit facility follows the closing of our previous $90 million revolving credit facility with TowerBrook Capital Partners L.P. ("TowerBrook"), a transatlantic investment management firm, provided by TowerBrook's Structured Opportunities Fund. Both facilities established a program under which we sell certain credit card receivables acquired by us to a consolidated trust in exchange for notes issued by the trust. The notes are secured by the receivables and other assets of the trust. "This new credit facility provides us with the additional capacity to continue our growth as we work to enable financial institutions to empower millions of financially underserved Americans," said Jeff Howard, President, Atlanticus Holdings Corporation. About Atlanticus Holdings Corporation About TowerBrook Capital Partners Forward-Looking Statements Contact: Mitch Saunders, Mitch.Saunders@Atlanticus.com, 770.828.2626
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Company Codes: NASDAQ-NMS:ATLC |
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