NextPoint secures C$74.4 million term loan, repays revolver with proceeds

Chicago, Nov. 4 – NextPoint Financial Inc. (LT Holdco, LLC) secured a C$74.4 million term loan via an amendment to an existing revolving credit facility with affiliates of Basepoint Capital, according to a press release.

Proceeds will be used to repay an existing revolver and to provide additional working capital for NextPoint and its Liberty Tax business.

The press release noted that debt funding for NextPoint's Community Tax subsidiary continues to be provided by a C$45 million first-lien term loan and C$25 million of second-lien term loans with existing lenders from the onset of that acquisition.

Brown Rudnick LLP acted as U.S. legal counsel to NextPoint, and DLA Piper LLP acted as Canadian counsel to NextPoint.

NextPoint is a Vancouver, B.C..-based financial services provider to the underserved. Liberty Tax is a tax preparation service and Community Tax is a tax debt resolution advocate for customers.

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