FOR IMMEDIATE RELEASE
FIRST CAPITAL RENEWS $175 MILLION SENIOR SECURED FACILITY WITH DZ BANK
BOCA RATON, Fla, July 20, 2009 – First Capital, a leading financial services firm, announced that it had renewed a $175 million senior secured facility with DZ BANK.
The facility will be used by First Capital to provide vitally necessary asset-based working capital lines of credit to small and medium-sized businesses in order to meet their liquidity needs.
“I am quite grateful to DZ BANK for renewing our credit facility and we look forward to a long-term, mutually-beneficial relationship with DZ BANK.” said John W. Kiefer, Chief Executive Officer of First Capital. “We are very proud of how well First Capital’s people have pulled together during this credit storm. It is because of them and their dedication to quality and customer service that First Capital is doing as well now as we are.”
DZ BANK is the fifth largest bank in Germany and is acting as a central bank for over 1,000 cooperative banks. As a cooperative commercial bank DZ BANK is a well-known partner in Germany and abroad.
“We are very pleased to renew First Capital’s credit facility with us,” said Christian Haesslein, Assistant Vice President at DZ BANK, “and we are thrilled to continue our long standing relationship with First Capital.”
About First Capital
First Capital (www.FirstCapital.com) is a leading commercial financial services firm providing prompt, professional and reliable working capital solutions and outsourcing, primarily for middle-market companies and institutions. With over $1 billion in total committed lines, First Capital is one of the largest independent and fastest-growing commercial finance companies in the United States. The firm focuses on asset-based lending, accounts receivable management, credit protection, international supply chain financing and servicing for clients in North America and Asia. The firm also manages asset portfolios for clients and is an active issuer of receivables-backed securities. Combining a unique blend of traditional and progressive banking methods, First Capital provides clients with customized support needed to grow and maintain their business. Based out of Boca Raton, Florida, the firm has six full-service offices in major cities including New York, Los Angeles, Ft. Lauderdale, Oklahoma City and Atlanta and a subsidiary that is headquartered in Hong Kong.
About DZ BANK
DZ BANK Group is the fifth largest bank in Germany with total assets of approximately $600 billion (as of December 31, 2008). DZ BANK provides a wide variety of products and services to institutional, corporate and private clients worldwide, including in capital markets, structured finance, corporate finance, private banking and transaction banking. Autobahn Funding Company LLC is an asset-backed commercial paper conduit sponsored and administered by DZ BANK. Since its inception in April of 1999, Autobahn has committed over $8 billion in transaction volume. Current aggregate funding commitments to its clients are approximately $4 billion.
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