Pasadena Private Lending closes on new $50 Million institutional round and extends senior credit facility
- Editor
- 4 days ago
- 2 min read
Whats Happening:
Pasadena Private Lending Inc. (PPL) has secured a $50 million secured term loan from SLR Capital Partners and extended its $75 million Senior Credit Facility with East West Bank. The additional capital will allow PPL to expand its portfolio of Owner-Guaranteed Business Loans to lower middle-market companies, capitalizing on favorable market trends as economic uncertainties surface and interest rates decrease.
Key Moves:
PPL closes $50 million secured term loan with SLR Capital Partners
PPL extends $75 million Senior Credit Facility with East West Bank
East West Bank increases advance rate from 65% to 70% and extends maturity to July 2028
By The Numbers:
PPL secures $50 million secured term loan
$75 million Senior Credit Facility extended
East West Bank increases advance rate from 65% to 70%
Key Quotes:
"We are excited to receive this influx of capital at a time when private credit is becoming commonplace and overtaking traditional banks as the engine of economic growth," said Michael McAdams, CEO of PPL
"We welcome larger private credit brethren SLR to our capital stack and are excited to have their support and credit expertise for our continued expansion," added Iain Whyte, Chairman of PPL
"Our experience allows us to support emerging lenders with strong management teams and unique programs like that of PPL," said Andrew Stein, Executive Vice President at East West Bank
Bottom Line:
Pasadena Private Lending's successful capital raise and credit facility extension demonstrate the growing importance of private credit in the financial landscape. This additional funding positions PPL to capitalize on increasing demand for non-bank lending solutions in the lower middle market, potentially driving significant growth for the fund.
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