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OLD GREENWICH, CONN. 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.
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