Old Hill Partners Closes $ 5.1 Million Senior Guarantee
DARIEN, Connecticut, Feb. 24, 2021 (GLOBE NEWSWIRE) – Old Hill has provided $ 5.1 million in the form of a senior secure picking facility to a company that acquires and leases standard 40-foot shipping containers. Its tenants include shippers with trade routes in Asia and the Middle East. Container rental and management services are provided to the borrower by managers in Hong Kong and Singapore. Facility security includes new containers, leases, receivables on leases, a borrower’s stock pledge, and guarantees.
“We believe that the global container shortage represents an opportune time to finance the owners and lessors of these assets. Rental rates are at historically high levels and container owners are able to lock in these rates on long-term leases. We worked closely with the borrower and its parent company, who have extensive experience in acquiring and leasing containers, to craft a transaction that capitalized on the opportunity while incorporating collateral and collateral guarantees. cash flow to mitigate risk. We continue to be interested in this sector and in the financing of transport in general. Said Sam Adams, portfolio manager at Old Hill.
Old Hill offers asset-based lending solutions for borrowers looking for $ 5 million to $ 50 million in financing. The Company structures senior secured debt in the form of term facilities, drawdowns and revolving credit for up to four years and loan-to-value ratios between 35% and 85%. Types of collateral include pools of loans or leases (specialized financing), receivables, inventory, machinery and equipment.
Old Hill Partners Inc. is an alternative asset manager focused on asset lending transactions with small and medium-sized businesses. As an SEC-registered investment advisor, we operate at the crossroads of investors seeking attractive risk-adjusted returns and emerging companies seeking capital for expansion, acquisitions or growth.
Old Hill Partners Inc.
1120 Boston Post Road
Darien, Connecticut 06820
Telephone: 203 656 3004