ATLANTA, June 26, 2018 /PRNewswire/ — Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus”, “we”, “our” or “us”), a technology enabled customer accounts company, today appear the closing of a $100 million asset-backed, revolving acclaim ability with Acclaim Suisse AG, Cayman Islands Branch, a arch banking casework provider. The new ability allows for a absolute of $190 actor in committed debt basic (when accumulated with absolute facilities) to armamentarium our investments in Fortiva® branded general-purpose acclaim agenda receivables.
Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus”, “we”, “our” or “us”), a technology enabled customer accounts company, today appear the closing of a $100 million asset-backed, revolving acclaim ability with Acclaim Suisse AG, Cayman Islands Branch, a arch banking casework provider. The new ability allows for a absolute of $190 actor in committed debt basic (when accumulated with absolute facilities) to armamentarium our investments in Fortiva® branded general-purpose acclaim agenda receivables.
The revolving acclaim ability follows the closing of our antecedent $90 actor revolving acclaim ability with TowerBrook Basic Partners L.P. (“TowerBrook”), a beyond advance administration firm, provided by TowerBrook’s Structured Opportunities Fund. Both accessories accustomed a affairs beneath which we advertise assertive acclaim agenda receivables acquired by us to a circumscribed trust in barter for addendum issued by the trust. The addendum are anchored by the receivables and added assets of the trust.
“This new acclaim ability provides us with the added accommodation to abide our advance as we assignment to accredit banking institutions to empower millions of financially underserved Americans,” said Jeff Howard, President, Atlanticus Holdings Corporation.
About Atlanticus Holdings Corporation Founded in 1996, our businesses, including the Fortiva branded products, advance proprietary analytics and a adjustable technology belvedere to accredit banking institutions to accommodate assorted acclaim and accompanying banking casework and articles to the financially underserved customer acclaim market. We administer the acquaintance acquired and basement congenital from application over 17 actor barter and $25 billion in customer loans over our 22-year operating history to abutment lenders that arise a ambit of customer accommodation products. These articles accommodate retail credit, claimed loans, and acclaim cards marketed through our omni-channel belvedere which includes, retail point-of-sale, absolute mail solicitation, Internet-based business and partnerships with third parties.
About TowerBrook Basic Partners TowerBrook Basic Partners L.P. is a beyond advance administration close headquartered in New York and London that has in balance of $7.0 billion in assets beneath management. It is an ambitious close that invests beyond industries, and it is focused on partnering with accomplished administration teams to body industry arch franchises. TowerBrook invests in buyouts and added control-oriented investments out of its clandestine disinterestedness funds and in boyhood adopted disinterestedness positions and added non-control or structured investments out of its structured opportunities funds. For added information, visit http://www.towerbrook.com.
Forward-Looking Statements This columnist absolution contains advanced statements that are fabricated pursuant to safe anchorage accoutrement of the Clandestine Securities Litigation Reform Act of 1995. These advanced statements accommodate statements, amid added things, apropos advance and allotment strategies. Although Atlanticus believes that the expectations reflected in such advanced statements are reasonable, such statements absorb risks and uncertainties and you should not abode disproportionate assurance on such statements. Absolute after-effects may alter materially from those bidding or adumbrated in such statements. Important factors that could account absolute after-effects to alter materially from these expectations include, amid added things, the timing and costs of originations; and added accident factors abundant from time to time in Atlanticus’ letters filed with the Securities and Barter Commission. The advanced statements independent herein allege alone as of the date of this columnist release. Atlanticus undertakes no obligation to amend or alter any advanced statement, except as may be appropriate by law.
Contact: Mitch Saunders, [email protected], 770.828.2626
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SOURCE Atlanticus Holdings Corporation
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