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ALPHARETTA, Ga., April 29, 2021 /PRNewswire/ Priority Technology Holdings, Inc. (NASDAQ: PRTH) ( Priority ), a leading payments technology company, today announced the completion of its debt refinancing and preferred equity issuance.
The new senior debt facility, which improves interest expense by 75 basis points, includes an initial term loan of $300 million used to refinance existing debt and pay debt placement fees and expenses. A committed delayed draw term loan of $290 million is in place and will be used to finance a portion of the Finxera acquisition at closing later this year. Also, a new $40 million revolving credit facility is immediately available.
Priority Technology Holdings, Inc Announces Completion of Debt Refinancing and Preferred Equity Issuance
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Ares wants to do good – and profit – with new Pathfinder loan fund
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Pretium, an alternative investment management firm, and
funds managed by Ares Management, have closed on their $2.4 billion acquisition
of Front Yard Residential, making Pretium the second-largest owner and operator
of single-family rental properties in the U.S.
As a result, Pretium now has more than 55,000 SFRs. It will
manage the venture and partner with Ares to further expand Front Yard’s
portfolio of assets.
“There is significant opportunity in the SFR market and
a clear sense of urgency among institutional investors to deploy capital to
this asset class given record-high occupancy rates, stable cash-flow
characteristics, and potential for continued capital appreciation,” said