Brightwood Capital Prices $427 Million Financing
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NEW YORK, Dec. 18, 2020 /PRNewswire/ Brightwood Capital Advisors, a leading private credit firm, today announced it has priced Brightwood Capital MM CLO 2020-1, LLC, a $426.5M collateralized loan obligation arranged by Barclays in support of the firm s financing strategy for its middle market loan activities.
The vehicle is backed by loans the firm has originated for Brightwood Capital Fund IV and will provide that fund with attractive, low-cost, non-recourse financing to enhance its ability to deliver strong risk-adjusted returns for investors. We were pleased to see such robust investor interest in this transaction, said Sengal Selassie, Managing Partner and Chief Investment Officer of Brightwood. This financing adds a number of new relationships to our current roster of lending partners, demonstrates the market s confidence in Brightwood s capabilities, and accele
Quintet of debt investors now control company
The parent company of American Addiction Centers has concluded its bankruptcy reorganization, during which is shed about $500 million of debt.
The reconstituted AAC runs 26 facilities in eight states and employs more than 2,000 people. It is, as it did in the runup to
its Chapter 11 filing, being led by CEO Andrew McWilliams, who took the helm from founder Michael Cartwright early this year.
“We are thankful to the court and our senior secured lenders for recognizing the critical need for our services both now and in the future,” McWilliams said in a statement. “We are excited to be positioned for growth as the first company to truly transform the treatment of substance abuse.”