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Capital One Closes More Than $1B in Unitranche Commitments in 2017

February 02, 2018, 07:30 AM
Filed Under: Industry News

Just one year after its initial launch, Capital One announced that its unitranche loan program, ULTra, closed more than $1 billion in commitments to borrowers in the healthcare industry in 2017.  The program, with HPS Investment Partners as its strategic co-investor, helps borrowers obtain first lien unitranche loans without a rating agency or a syndication process, thus providing clients with fast and reliable financing.

“We are pleased to announce that we have expanded this program beyond the healthcare market to borrowers in a variety of industries where Capital One provides leveraged finance,” said Darren Alcus, President of Corporate Banking at Capital One. “In this dynamic environment, a seamless, one-stop financing solution like ULTra can give private equity sponsors and borrowers a significant advantage.”

A unitranche loan blends senior and junior debt pricing and terms into a single first lien debt facility, rather than creating two classes of debt and coordinating among multiple lenders. This approach increases certainty of execution, and borrowers benefit from the simplicity of managing a single credit facility.

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