Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to a variety of businesses worldwide, today announced the closing of a private placement transaction involving the sale of approximately $400 million of loans from Oxford’s balance sheet. These loans were sold at par to a newly formed securitization entity, which simultaneously issued three tranches of rated asset backed securities, as well as subordinated Class R notes representing the right to receive the residual interests in the loan portfolio’s cash flows (collectively, the “Securities”). The transaction includes incremental commitments from investors to fund additional loan purchases and an accordion feature that could increase the total transaction size to $1 billion.
“This transaction represents an important step in our strategy to grow fee-generating assets under management, alongside our balance sheet, as Oxford continues to scale,” said Timothy Lex, Oxford’s President and Chief Executive Officer.
Kroll Bond Rating Agency rated the debt securities issued in the transaction. Barclays acted as sole structuring advisor and lead left placement agent, and MUFG Securities Americas Inc. acted as joint placement agent.
The Securities were offered pursuant to Section 4(a)(2), to qualified institutional buyers (as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)) and/or institutional accredited investors (within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act). The Securities have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements.
This press release does not constitute an offer to investors, nor a solicitation for an offer to invest.
About Oxford Finance LLC
Oxford Finance LLC is a specialty finance firm providing senior secured loans to public and private companies operating in a variety of industries worldwide. For over 20 years, Oxford has delivered flexible financing solutions to over 750 companies, allowing borrowers to maximize their equity by leveraging their assets. Since 2002, Oxford has originated more than $18 billion in loans. Oxford is headquartered in Alexandria, Virginia, with additional offices serving the greater San Diego, San Francisco, Atlanta and New York City metropolitan areas. For more information, visit https://oxfordfinance.com.
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