NewStar Financial Obtains $300 Million Investment from GSO-Advised Funds
11.06.14
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Simpson Thacher is representing NewStar Financial in connection with an investment by three Franklin Square business development companies (which are advised by GSO Capital) in $300 million of NewStar subordinated notes and warrants to purchase approximately 20% of NewStar's common stock. The transaction is scheduled to close in stages, beginning at the end of this year and continuing through 2015. Issuance of a portion of the warrants is subject to approval by NewStar's stockholders at a special meeting expected to be held within the next few months.
NewStar is a specialized commercial finance and asset management company focused on providing a range of corporate debt financing options to mid-sized companies to fund working capital, growth strategies, acquisitions and recapitalizations, as well as equipment purchases. NewStar is headquartered in Boston, MA.
The Simpson Thacher team for the transaction included Lee Meyerson, Stephen Wiseman and William Allen (M&A); Brian Robbins (Executive Compensation and Employee Benefits); and Jon Goldstein (Tax).