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AloStar Inks $20MM Credit Facility for Flat Rock Capital

October 22, 2018, 07:10 AM
Filed Under: Lender Finance

Flat Rock Capital Corp. announced that it has entered into a $20 million financing facility with AloStar Capital Finance, a division of State Bank and Trust Company.

“We are excited to complete another milestone transaction in the growth of Flat Rock Capital that increases our ability to finance the growth of middle market businesses throughout the U.S.” said Robert Grunewald, CEO of Flat Rock Global.  “We are pleased that AloStar has chosen to partner with us in our mission to deliver an attractive dividend yield to investors through investments in first lien, floating rate, middle market loans”.

Richard Petrocelli, Chief Operating Officer of Flat Rock Capital Corp. added, “We believe Flat Rock Capital Corp.’s ability to raise debt financing from an independent financial institution further demonstrates our position as a leading originator and underwriter of middle market debt and is a reflection of the quality of our loan portfolio and our management team.”

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