Securitized ‘B’ Note Facility
$5 million Senior Secured Note
The undersigned acted as Placement Agent for the Facility and Notes
$15 million securitized financing
- Unicorn Financial Services provides financing for individuals having elective dental and medical procedures.
- Unicorn needed additional capital to support the Company’s rapid growth and to repay its maturing subordinated debt.
- Scura Partners created a unique hybrid structure, arranging for one lender to provide a ‘B’ tranche facility for Unicorn’s ABCP facility and a separate secured note at the parent company. This very efficient funding structure minimized Unicorn’s funding cost and maximized the availability and flexibility of the financing program.
- Scura Partners worked closely with the lender, Unicorn’s existing ABCP provider and the rating agencies to complete the recapitalization plan with attractive terms and rates for the Company.