SOURCE: Gemino Healthcare Finance
PHILADELPHIA, PA–(Marketwire – October 26, 2010) – Gemino Healthcare Finance (“Gemino”) today announced it has received a rating upgrade from rating agency DBRS to A from BBB. The rating change was based upon the historical performance of the loan portfolio, underlying collateral pools and the structural integrity of the transactions.
Mike Gervais, Chief Executive Officer of Gemino, said, “Obtaining the upgrade to A was another milestone for Gemino. It validates the quality of our clients, credit team, and overall business. We have funded over 40 deals since we launched Gemino in 2007 and are very focused on continuing to expand our business.”
Gemino Extends WestLB Credit Facility
Gemino also announced that it has received a two year extension on its credit facility with WestLB.
“We are excited about extending our facility with WestLB and having them continue to support the growth of our business. They have been a valuable partner the last three years through a difficult lending environment,” said Stacy Allen, Vice President of Operations and Treasurer for Gemino.
Matt Tallo, Executive Director for WestLB, said, “WestLB is happy to continue to support Gemino. We have an extensive history with the team and look forward to working with them as they grow their business.”
About Gemino Healthcare Finance (www.gemino.com)
Gemino, a privately held commercial finance company, provides senior loans to healthcare service providers throughout the U.S., with typical financing needs ranging from $2 million and up in the form of revolving lines of credit and term loans.
Based in Philadelphia, with offices in Atlanta, Dallas and Los Angeles, Gemino provides loans to growing healthcare companies for working capital, recapitalizations, acquisitions and other general corporate purposes.
About WestLB Structured Finance
WestLB develops sophisticated structured solutions through a team of highly experienced investment banking professionals. WestLB has a long-standing presence in the corporate, structured and project financing sectors supporting clients’ needs with capital commitments, advisory services and innovative financing solutions. The bank’s global relationships, coupled with its unique understanding of local economies, industries and cultures, help WestLB bankers consistently deliver high quality advice and service. For more information, please visit www.westlb.com.
About WestLB
WestLB AG is one of Germany´s leading financial services providers and offers the full range of products and services of a universal bank, focusing on lending, corporate and structured finance, capital market and private equity products and transaction services. WestLB has total assets of EUR 251.2 billion, as of June 30, 2010. For more information, please visit www.westlb.com.
In the United States, certain securities, trading, brokerage and advisory services are provided by WestLB’s wholly owned subsidiary WestLB Securities Inc., a registered broker-dealer and member of the NASD and SIPC.
CONTACT:
Joni Miller
770-321-4033
Email Contact
Click here to see all recent news from this company