Commercial Paper Facility
The undersigned acted as Sole Arranger and Manager of the facility
$60 million asset-backed commercial paper facility
- Unicorn Financial Services provides financing for individuals having elective medical procedures.
- Prior to Scura Partners’s involvement, the company was financing its portfolio with a non-bank finance company line.
- Scura Partners structured a facility which incorporate elements of both credit card and trade receivable securitization.
- Scura Partners worked closely with the purchaser, a global commercial and investment bank, and the rating agencies to complete the financing for this new and unique asset class.
- As a result, Unicorn’s financing costs were cut by over 65%, and the advance rate improved by about 20%.