Oportun Financial (OPRT) said late Tuesday it has entered into a credit agreement to refinance its existing corporate financing facility with a new $235 million senior secured term loan.
The company said Castlelake L.P. and Neuberger Berman will provide the loan, which has a fixed interest rate of 15% and a maturity date of November 2028.
The loan is expected to close during the week of Nov. 11, pending customary closing conditions and the completion of a previously announced credit card portfolio sale.
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