BHI's Specialty and Sponsor Finance arranges USD100m in new financing during pandemic

Private Equity Wire

BHI, a full-service commercial bank, says its Specialty and Sponsor Finance Group continued to maintain a high level of activity for new and existing clients during the peak of the global pandemic.

The team’s most recent deals include a USD55 million senior secured credit facility for a New Jersey-based paper distributor, and an increase in the bank’s revolver commitment of USD45 million to support a strategic acquisition for a private equity-owned manufacturer of specialty labels.

The BHI Specialty and Sponsor Finance Group was developed four years ago to offer a comprehensive banking and financial services platform exclusively to middle market financial sponsors, family offices and business entrepreneur clients. Financing capabilities provide for acquisitions, leveraged buyouts, dividend recaps, recapitalisation and general corporate purposes, coupled with a complement of ancillary banking services. Since inception, the group has originated and closed more than USD500 million in commitments for its clients with the backing of Bank Hapoalim, Israel’s largest bank, which has USD130 billion of assets and is “A” rated.

“These transactions are representative of our collaboration with our private equity and business entrepreneur clients to support their growth initiatives,” says Carl Giordano, SVP, Team Leader of the Specialty and Sponsor Finance Group within BHI’s New Jersey Representative Office. “We’ve adjusted and adapted very well in the new normal and will continue to fund appropriate opportunities as the pipeline of activity increases.”

“We take a personal approach and work in partnership with our clients, providing tailored financing solutions to meet their objectives. Since its beginning, BHI Specialty and Sponsor Finance has realised stellar growth in originations and built a prestigious client roster. Our team will continue to be focused on serving the PE sector in the pandemic economy,” says John Yoler, EVP, Division Executive – Head of BHI US Representative Offices.