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NewStar Business Credit Provides $16MM Facility to East West Copolymer

September 22, 2015, 07:43 AM
Filed Under: Manufacturing

NewStar Business Credit, a wholly-owned subsidiary of NewStar Financial, Inc., announced it has provided a $16million revolving credit facility to East West Copolymer, LLC. Headquartered in Baton Rouge, Louisiana, East West produces synthetic rubber products used primarily in the tire manufacturing industry.  The company’s plant was one of the world’s first commercial producers of synthetic rubber and is one of three existing US based styrene-butadiene rubber manufacturing facilities operating 24 hours a day, year round. The credit facility will be used to refinance existing debt and support the company’s working capital needs.

“We are ecstatic to partner with NewStar as we continue to grow our business. We’ve developed an outstanding relationship with the NewStar team in a short period of time and have come to respect their professionalism and expertise. We look forward to making the partnership stronger as we continue to work together on a daily basis,” said Gregory Nelson, East West Chairman and President.

“We are pleased to have East West Copolymer as a client and look forward to supporting their growth,” stated NewStar EVP and National Marketing Manager, Milton Iskra.

This transaction was originated by Kenneth Frank, a Senior Vice President located in NewStar’s Philadelphia office.

NewStar Business Credit provides asset-based and senior, secured “stretch” loans nationally to middle market companies with credit requirements between $5 million and $35 million.  Deal structures are flexible and tailored to meet each client’s unique needs.  Funds can be used for a wide range of purposes, including strategic acquisitions, management buyouts, recapitalizations and refinancings, as well as, to support internal growth strategies.

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