By Devika Patel
Knoxville, Tenn., Feb. 22 – Litigation Capital Management Ltd. secured a $50 million four-year credit facility with Northleaf Capital Partners, according to a press release.
The loan bears interest at 8%, which is based on Libor, and the coupon is capped at 13%. The credit facility may be drawn down during the first two years of the facility.
Proceeds will be used for general corporate purposes.
Litigation Capital Management provides litigation financing and ancillary services to enable the recovery of funds from legal claims. The company is based in Sydney, Australia.
| Issuer: | Litigation Capital Management Ltd.
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| Issue: | Credit facility
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| Amount: | $50 million
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| Maturity: | Four years
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| Coupon: | 8%, based on Libor, capped at 13%
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| Investor: | Northleaf Capital Partners
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| Announcement date: | Feb. 22
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| Distribution: | Private placement
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