KRM22 settles €11.55 million debt facility; JDS raises $664.1 million

By Devika Patel

Knoxville, Tenn., April 29 – The week opened with a flurry of private placement activity, as five new debt offerings were announced on Monday.

London-based KRM22 plc, a technology and software investment company, reported that it has secured an €11.55 million five-year debt facility with Harbert European Growth Capital Fund II.

New York-based JDS Development Group, a real estate development, construction and acquisition firm, raised $664.1 million in construction financing from Otera Capital Inc. and Silverstein Capital Partners, and Austin-based real estate development firms Pearlstone Partners and Newgard Development Group settled an $87.9 million construction loan to fund a joint venture.

Houston-based Beyond Finance, Inc., a debt resolution services provider, said it settled a $60 million senior credit facility with Comvest Credit Partners, and Guernsey-based business process outsourcing firm iEnergizer Ltd. settled a $45.5 million five-year senior secured term loan facility with Main Street Capital Corp.

KRM22 gets €11.55 million

KRM22 obtained an €11.55 million five-year debt facility with Harbert European Growth Capital Fund II. The company has already drawn down £1 million.

The interest rate payable on debt drawn down is 11% on the initial £1 million drawdown and the higher of 11% or one-year Euro Libor plus 1,100 basis points for additional drawdowns.

Drawdowns can be made until Dec. 31, 2020.

In connection with the facility, Harbert will receive warrants. For the initial drawdown, warrants for 495,049 ordinary shares will be issued with an exercise price of £1.01 per share. Additional warrants will be issued in an amount equal to 5.6% of each subsequent drawdown of the facility for up to a maximum value of £500,000, calculated by reference to an exercise price equal to the lower of a 10% discount to the prevailing market price or £1.01 per share.

Proceeds will support future business growth and allow the company to pursue its pipeline of investment targets.

JDS wraps $664.1 million

JDS Development Group obtained $664.1 million in construction financing from Otera Capital Inc. and Silverstein Capital Partners, according to press release from agent JLL Capital Markets.

Proceeds will be used to complete construction of 9 Dekalb Avenue.

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