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Capital One and HPS Investment Partners Close First Unitranche Loan

June 01, 2017, 07:19 AM
Filed Under: Healthcare

Capital One announced that it served as a lead arranger on a $300 million senior secured credit facility consisting of a $10 million revolving loan and $290 million term loan for a leading healthcare education services company. This is the first transaction funded through Capital One’s ULTra unitranche loan program implemented with HPS Investment Partners as a strategic co-investor, which provided $250 million of the term loan. The ULTra program, through Unitranche Loan Transaction, LLC, provides first lien unitranche loans to middle market companies. Capital One served as “lead left” arranger and administrative agent for the credit facility.

“Our unitranche loan program offers a significant advantage for borrowers and sponsors by enabling quick, flexible and reliable financing,” said Al Aria, Senior Managing Director, Capital One Healthcare. “Our team tailored the loan structure around our client’s unique financial needs and operational requirements.” A unitranche loan blends senior and junior debt pricing and terms into a single, first lien debt facility. This approach increases certainty of execution, and borrowers benefit from a single credit facility.

Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers. 

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