Dext Capital Closes $200MM Asset-Based Credit Facility with Bank of America
OCT 3, 2022 - 7:46 am
Dext Capital, an independent healthcare finance company based in Lake Oswego, OR, closed a $200 million asset-backed credit facility with Bank of America in June 2022.
The new Bank of America warehouse increases Dext’s facility capacity to $550 million and provides Dext with additional support for the continued growth of its origination channels.
“We are excited to strengthen our partnership with Bank of America to support our sustained growth,” Rob Stackhouse, CFO of Dext Capital, said. “Our team continues to serve as a leader in the industry in offering healthcare providers efficient and reliable financing solutions to meet their dynamic needs. Partnering with supportive and experienced lenders allows us not only to expand our business with existing customers in the medical and wellness industries but also explore new, underserved markets.”
Dext Capital has grown by nearly 50% annually and utilizes its warehouse partners to house assets until securitizing in the term ABS market. Dext Capital issued an inaugural ABS offering in Nov. 2020 and a second offering in Nov. 2021. Both of them were oversubscribed.
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