TORONTO, Oct. 5, 2017 /CNW/ - Bridging Finance Inc. ("Bridging"), a leading provider of private debt capital for businesses operating in North America, is pleased to announce that it has recently completed $300,000,000 in new financings for the 9 months ended September 30, 2017. "In addition to the $300MM in new commitments completed, we've had over $170MM in successful exits so far in 2017," commented David Sharpe, CEO.
Bridging provides capital in the form of asset-based loans, unitranche and factoring facilities, to companies for growth, transition, shareholder buyouts, acquisitions, and special situations. Capital is used as a complement or replacement to a company's existing debt facilities generally on more flexible terms than provided by traditional financial institutions.
Bridging is the Co-Manager of Sprott Bridging Income Fund LP and Sprott Bridging Income RSP Fund and is Manager of the recently announced Bridging Mid-Market Debt Fund.
About Bridging Finance Inc. Established in 2012, Bridging Finance is a privately held Canadian company providing middle-market North American companies with alternatives to the financing options offered by traditional lenders. Lending proceeds, typically ranging from $3 million to upwards of $50 million, are used by companies to address needs such as restructuring existing debt, providing working capital for growth, supporting inventory purchases and financing expenditures and acquisitions/buyouts. Bridging Finance is the co-manager of the Sprott Bridging Income Fund LP and the Sprott Bridging RSP Fund, which invest in factoring/private debt loans that have a low correlation to traditional asset classes. Bridging Finance also offers portfolio management services for institutional clients and currently manages approximately $600 million of assets.
SOURCE Bridging Finance Inc.
For further information: David Sharpe, LLB, LLM, MBA, Chief Executive Officer, Bridging Finance Inc., T: (416) 642-7572 | C: (647) 981-5658, [email protected]