Closure Announced for Great Rock Capital's $1.1 Billion Loan Facility
Great Rock Capital, a leading provider of fast, flexible, and creative financing solutions, has announced the closing of a senior secured leverage facility, agented by Capital One, National Association. The new facility, worth over $1.1 billion, will enable Great Rock Capital to further scale its operations and support its clients across the United States and Canada with enhanced financial resources and flexibility.
The new capital facility is designed to enhance Great Rock Capital's financial flexibility, allowing them to pursue strategic expansion initiatives more effectively. This includes supporting the liquidity needs for middle-market companies across North America.
One such initiative includes a recent transaction where Great Rock Capital provided C$50 million in liquidity to a leading heavy civil construction business in Western Canada. This transaction supports the company's strategic growth initiatives and future capital expenditure needs, reflecting Great Rock's commitment to supporting middle-market companies.
In addition, Great Rock Capital has also closed the third upsize of its investment-grade corporate note, with proceeds aimed at reinforcing the strength of its balance sheet and supporting continued growth initiatives.
Great Rock Capital specializes in offering senior secured credit facilities ranging from $15 million to $150 million. This capability is crucial for companies seeking liquidity and growth capital beyond traditional commercial lending options.
The new capital facility involves the participation of 17 other bank partners, and Dan Tsacoumangos, Managing Director, Capital One Financial Institutions Group, expresses pleasure in supporting Great Rock's continued growth with the new facility. He looks forward to a successful partnership with Great Rock Capital.
Stuart Armstrong, CEO of Great Rock Capital, states that the new capital facility will be a key driver in achieving new business milestones. He also indicates that Great Rock Capital is experiencing significant growth in recent years. Brett Goodwin, CFO of Great Rock Capital, echoes this sentiment, stating that the new capital strengthens the future financial flexibility of Great Rock Capital.
Great Rock Capital appreciates the partnership with Capital One and the 17 other bank partners in the facility. The new capital facility's purpose aligns perfectly with Capital One's goals, as it provides vital liquidity to middle-market companies.
This capital injection will provide Great Rock Capital with financial flexibility for strategic expansion initiatives. With this new facility, Great Rock Capital is poised to continue its growth trajectory and support the needs of its clients.
The new capital facility will bolster Great Rock Capital's financial flexibility, enabling them to pursue strategic expansion initiatives more effectively, particularly in supporting the liquidity needs of middle-market companies across North America (business, investing). Great Rock Capital's ongoing growth is evident in the recent upsize of its investment-grade corporate note, a move aimed at reinforcing the strength of its balance sheet and supporting further business growth (finance, business).
