Catalyst Capital Group provides bridge financing to Callidus Capital
Specialty lending platform Callidus Capital Corp (TSX: CBL) has secured US$50 million in bridge loan financing from Canadian private equity firm Catalyst Capital Group. Further advances of up to US$150 million may be provided by Catalyst, for a total of US$200 million. Callidus, which earlier this year flagged the possibility of securing new funds, said the facility has been accessed to support growth in its loan book. As of November 4 2014, the firm's gross loans receivable stood at $684 million. Callidus went public in April 2014, however, Catalyst continues to be its majority investor, controlling or directing around 57.5 percent of its issued and outstanding common shares.
25 November 2014•5 mins read
