Financial Advisor
First Heritage Credit, LLC
Debt Capital Markets
Has Secured A Senior Secured Credit Facility From
Transaction Details
- On April 2, 2019, First Heritage Credit, LLC (“First Heritage” or the “Company”) secured a new $200 million Senior Secured Credit Facility consisting of a $110 million Term Loan, $65 million Delayed Draw Term Loan and $25 million Revolver from MidCap Financial Services, LLC
- Founded in 1995, First Heritage is an independent, branch-based installment lender
- Transaction proceeds will be used to:
- Refinance its existing senior revolving credit facility, and
- Fund portfolio growth
- Stephens Inc. served as Exclusive Financial Advisor to the Company in the transaction
About the company
First Heritage manages over 100 branches across Alabama, Louisiana, Mississippi, South Carolina and Tennessee and over 100,000 individual accounts through a sophisticated lending platform that combines multi-channel originations with branch-based servicing and collections. The Company offers its customers a variety of loan products including personal consumer loans, indirect sales finance loans and related credit insurance. All of the Company’s loan products are structured on a fixed rate, fixed term basis and are fully amortized across the life of the loan with no prepayment penalties. First Heritage was founded in 1995 and is headquartered in Ridgeland, Mississippi.
Sources: Company Provided and Publicly Available Information.
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