KeyBank Specialty Finance Lending has closed a $35 million credit facility for Commercial Equipment Finance Inc. (CEFI), an independent commercial equipment finance company headquartered in Puerto Rico.
“CEFI is a leading equipment finance company that we look forward to helping meet its growth targets over time,” said Rian Emmett, managing director and group head, KeyBank Specialty Finance Lending. “Based on the strength and experience of the management team, CEFI is an excellent addition to our lending portfolio.”
Facility supports growth plans
The credit facility is a non-recourse revolving line of credit to a wholly owned special purpose entity established by the company and secured by equipment loans and leases meeting certain criteria. It has a three-year term, including a two-year revolving period with an accordion feature to increase aggregate commitments up to $150 million.
Quadrant Financial Group acted as adviser to CEFI in arranging the transaction. “CEFI’s excellent management team and stellar portfolio made it a great candidate for this type of facility,” said Gregory Gac, Quadrant’s managing director. “The additional financing positions CEFI to build on its already substantial successes. Quadrant is proud to count CEFI as a valued client.”
Strategic expertise broadens portfolios
KeyBank Specialty Finance Lending is a business unit of KeyBank National Association and provides structured debt facilities for targeted segments within the specialty lending marketplace. Its industry rapport and strategic expertise help businesses broaden their investment communities and diversify their portfolios.
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