Brief: Velocity Financial Announces New $175 Mln Term Loan Facility And $200 Mln Warehouse Facility

Velocity Financial

09/02/2021 13:45

Feb 9 (Reuters) - Velocity Financial Inc  VEL.N :
    * VELOCITY FINANCIAL, INC. ANNOUNCES NEW $175 MILLION TERM
LOAN
FACILITY AND $200 MILLION WAREHOUSE FACILITY
    * VELOCITY FINANCIAL INC - ENTERED INTO NEW $175 MILLION,
5-YEAR
TERM LOAN WITH A SYNDICATE OF LENDERS
    * VELOCITY FINANCIAL INC - NEW FACILITY HAS INITIAL $125
MILLION
FUNDING, WITH ADDITIONAL $50 MILLION AS A DELAYED DRAW FEATURE
    * VELOCITY FINANCIAL INC - PROCEEDS OF NEW TERM LOAN
FACILITY WILL
BE USED TO REFINANCE EXISTING DEBT AND ORIGINATE NEW LOANS
    * VELOCITY FINANCIAL INC - SECURED NEW $200 MILLION
NON-MARK-TO-MARKET WAREHOUSE FACILITY WITH BARCLAYS BANK, PLC

Source text for Eikon:  ID:nBw4FS4dCa 
Further company coverage:  VEL.N 

 ((Reuters.Briefs@thomsonreuters.com;))