Old Hill Partners Closes $ 7 Million Water Rights Guaranteed Term Loan | New
DARIEN, Connecticut, July 12, 2021 (GLOBE NEWSWIRE) – Old Hill Partners recently provided a $ 7 million secured term loan secured by water rights in the western United States. We funded a real estate developer seeking to store water resources for a planned development project. The funding served as a hedge against escalating water rights prices. It was valued with components of current and deferred interest. This transaction follows a previous $ 11 million credit facility that Old Hill granted to the company in 2019.
âWe operate in a segment of the credit market that requires specialist knowledge and is avoided by large traditional banks due to post-crisis regulatory constraints. The firm’s experience in the Asset Based Lending (ABL) industry allowed us to execute a transaction that offered a flexible financing solution for the borrower that is not available from traditional lenders. We worked closely with the borrower to craft a personalized transaction, backed by a strong collateral, that aligned the interests of all parties involved, âsaid Sam Adams, senior portfolio manager at Old Hill.
Old Hill offers asset-based lending solutions for borrowers looking for $ 10 million to $ 50 million in financing. The Company structures senior secured debt in the form of term facilities, drawdowns and revolving credit for up to four years and loan-to-value ratios between 35% and 85%. Types of guarantees include pools of loans or leases (specialized financing), receivables, inventory, machinery and equipment.
Old Hill Partners Inc. is an alternative asset manager focused on asset lending transactions with small and medium-sized businesses. As an SEC-registered investment advisor, we operate at the crossroads of investors seeking attractive risk-adjusted returns and emerging companies seeking capital for expansion, acquisitions or growth.
Kim Hopkins Investor Relations Old Hill Partners Inc. 1120 Boston Post Road Darien, Connecticut 06820 www.oldhill.com Phone: 203 656 3004 [email protected]
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