PHOENIX--(BUSINESS WIRE)--AVANA BonHon, LLC, a special purpose entity and subsidiary of AVANA Capital Inc., has successfully closed a $65mm offering of five-year investment-grade debt to support the company’s hospitality financing business. Sandler O’Neill + Partners acted as both lead underwriter and placement agent on the offering.
This represents the first in a series of U.S. hospitality-focused debt offerings planned by the company. Created to develop a portfolio of high-quality construction and bridge loans from across the U.S., many from prominent Marriott and Hilton properties as well as other high-performing extended-stay brands, the offering underscores AVANA Capital’s focus on growing sources of loan capital while maintaining commitment to social initiatives such as job creation and clean energy.
According to Sundip Patel, CEO of AVANA Capital, “The strong demand and oversubscription of this bond offering demonstrates the market’s confidence in AVANA’s ability to originate, underwrite, and service high-quality commercial and small-business loans. We look forward to using this and future BonHon offerings, coupled with our continued growth in direct investor capital, to serve the needs of business owners in the hospitality space for many years to come.”
The oversubscribed Regulation D private placement is A rated, classified NAIC-1 by the National Association of Insurance Commissioners, and is DTC eligible.
For more information on AVANA Capital, LLC please call Michael Sheneman at 623-243-4555 or get in touch via email.
About AVANA Capital:
AVANA Capital is a leading hospitality and clean energy debt fund. Over the past 17 years the company has provided more than $1.3 billion in debt capital to small businesses and aided in the creation or retention of nearly 10,000 jobs in the United States, all while providing strong risk-adjusted returns to our institutional, family office, and high net-worth clients across the globe.
Disclaimer. This press release is not a prospectus or offering document for any securities. This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of AVANA Capital or it’s affiliates (the “Company”), nor shall any part of it nor the fact of its dissemination form part of or be relied on in connection with any contract or investment decision relating thereto. The securities mentioned in this press release have not been registered under the Securities Act of 1933, as amended, or any applicable state securities laws or any other applicable securities laws, and may not be offered or sold in the United States absent registration or exemption from registration under applicable law. Such securities have not been approved or disapproved by the Securities and Exchange Commission, any state securities commission or any regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of any proposed offering of these securities or the accuracy or adequacy of this document. This press release contains forward-looking statements. Forward-looking statements express management’s current expectations, beliefs and forecasts of future events or long-term goals; forward-looking statements, by their nature, are subject to assumptions, risks and uncertainties, many of which are beyond the control of the Company.