Velocity Financial, Inc. Announces New $175 Million Term Loan Facility and $200 Million Warehouse Facility

Feb 09, 2021

Velocity Financial, Inc. (NYSE: VEL), (“Velocity” or the “Company”), a leading provider of small balance investor loans, today announced that it has entered into a new $175 million, 5-year term loan with a syndicate of lenders including funds managed by Blackrock’s U.S. Private Capital group, Oaktree Capital Management, L.P., and UBS O’Connor. The new facility has an initial $125 million funding as of the closing date, with an additional $50 million as a delayed draw feature. Proceeds of the new term loan facility will be used to refinance existing debt and originate new loans. In addition, the Company secured a new $200 million non-mark-to-market warehouse facility with Barclays Bank, PLC to finance new originations.

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