FirstLight Financial Corporation Serves as Lead Arranger of $115MM in
Senior Credit Facilities for Leading Midwestern Coal Producer
OLD GREENWICH, Conn. (Business Wire EON) November 14, 2007 --
FirstLight Financial Corporation (“FirstLight”)
announced today that it served as lead arranger and administrative agent
of a $115 million senior credit facility for the American Infrastructure
MLP Fund.
The credit facility consists of a $25 million revolver, a $60 million
term loan and a $30 million last-out term loan. The facility was used to
recapitalize and provide growth financing for Oxford Mining Company,
Inc., now Oxford Resource Partners, L.P. (“Oxford”),
the largest producer of surface mined coal in Ohio.
“In light of tough market conditions, we were
very impressed with FirstLight’s execution in
this transaction.The team demonstrated a deep understanding of the
business, which enabled them to provide a fully underwritten facility
and assemble a very high quality bank group,”
said Matt Carbone, Managing Director at the American Infrastructure MLP
Fund.
“We chose FirstLight not only because they
could provide the financing we need now, but because they understand our
business and our industry,” said Chuck
Ungurean, Oxford’s President & CEO.
“The key to structuring these types of deals
appropriately requires an in-depth knowledge of the energy industry,”
said Ron Carapezzi, President & CEO of FirstLight. “This
is a great example of how we draw on the expertise of our energy finance
team to deliver more value to our clients.”
About FirstLight Financial Corporation:
FirstLight Financial Corporation is a commercial finance platform
offering customized financings primarily for middle market companies
across a broad spectrum of industries. Newly formed by a team of
seasoned professionals who share a long-term, client-focused mindset,
FirstLight offers a unique, personalized experience characterized by
reliability, responsiveness, creativity and integrity. For more
information, visit www.firstlightfinancial.com.
About the American Infrastructure MLP Fund:
The American Infrastructure MLP Fund is a private equity fund investing
in natural resource and real property related companies. The Fund’s
innovative strategy is designed to provide unique advantages for the
owners, management teams and businesses in which it invests, while
creating attractive returns and tax-advantaged current income for
investors. For more information, visit www.aimlp.com.
About Oxford Resource Partners, L.P.:
Founded in 1985, Oxford is the largest producer of surface mined coal in
Ohio. The Company operates 16 surface mines, preparation plants and a
barge loading facility. Oxford produces over 5 million tons of coal per
year and has long-term customer relationships with leading utilities in
the Ohio Valley. Led by industry veteran Chuck Ungurean, Oxford employs
a staff of over 450 dedicated employees, many who have been with the
Company for over 20 years. Oxford has grown rapidly, both internally and
through acquisitions.
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