Sagard's credit fund lends $16 mln to tech platform NXT-ID
Nxt-ID Inc (Nasdaq: NXTD), a U.S. technology company focused products and services that enable the Internet of Things (IoT), has raised a US$16 million senior secured term loan. The loan's supplier was Sagard Credit Partners (SCP), a Canadian provider of direct credit financing to mid-market companies across North America. Melbourne, Florida-based Nxt-ID said it will use the proceeds to refinance its existing revolving loan facility, provide working capital, and fund capital expenditures, among other priorities. SCP, an affiliate of Power Corp's investment arm Sagard Holdings, earlier this year raised $325 million in the first close of its debut credit fund.
29 May 2018•4 mins read
