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Last $11.34 USD
Change Today -0.16 / -1.39%
Volume 54.3K
NEWS On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

newstar financial inc (NEWS) Snapshot

Open
$11.51
Previous Close
$11.50
Day High
$11.76
Day Low
$11.27
52 Week High
06/23/14 - $14.35
52 Week Low
03/6/15 - $9.43
Market Cap
522.0M
Average Volume 10 Days
57.3K
EPS TTM
$0.20
Shares Outstanding
46.0M
EX-Date
--
P/E TM
56.7x
Dividend
--
Dividend Yield
--
Current Stock Chart for NEWSTAR FINANCIAL INC (NEWS)

newstar financial inc (NEWS) Related Businessweek News

No Related Businessweek News Found

newstar financial inc (NEWS) Details

NewStar Financial, Inc. operates as a commercial finance company in the United States. It provides senior secured cash flow loans, and second lien and unitranche loans to middle market companies for acquisitions, recapitalizations, and refinancing or other general corporate purposes; and senior secured loans to larger middle market companies. The company also offers working capital financing, such as asset-based loans, including revolving lines of credit, and senior secured term loans to asset-intensive companies for acquisitions, recapitalizations, and growth strategies. In addition, it provides first mortgage transitional financing to professional real estate investors and developers to acquire and reposition commercial properties comprising office, multi-family, retail, and industrial properties. Further, the company offers a range of equipment loan and lease financing options to mid-sized companies to fund various equipment types consisting of manufacturing, technology, healthcare, transportation, and telecom equipment, as well as it provides investment advisory and asset management services. It serves healthcare, manufacturing and industrial, financial services, energy/chemical services, printing/publishing, business and technology services, auto/transportation, marketing, wholesale distribution, technology, telecommunications, and education, as well as consumer, retail, and restaurant industries. The company was founded in 2004 and is headquartered in Boston, Massachusetts.

98 Employees
Last Reported Date: 03/26/15
Founded in 2004

newstar financial inc (NEWS) Top Compensated Officers

Founder, Chairman, Chief Executive Officer, P...
Total Annual Compensation: $700.0K
Chief Financial Officer
Total Annual Compensation: $400.0K
Chief Credit Officer
Total Annual Compensation: $350.0K
Head of Leveraged Finance Origination
Total Annual Compensation: $300.0K
Chief Investment Officer, Director and Member...
Total Annual Compensation: $600.0K
Compensation as of Fiscal Year 2014.

newstar financial inc (NEWS) Key Developments

NewStar Financial, Inc. Completes Offering of Senior Notes, Consisting of $300 Million Aggregate Principal Amount of 7.25% Senior Notes Due 2020

On April 22, 2015, NewStar Financial, Inc. completed its previously announced offering of senior notes, consisting of $300 million aggregate principal amount of its 7.25% Senior Notes due 2020 (the Notes). The offering resulted in net proceeds to the company of approximately $294.8 million, after deducting estimated costs and expenses associated with the offering, including the initial purchasers' discount and commissions. The Notes were sold within the United States to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The Notes mature on May 1, 2020, and bear interest at a rate of 7.25% per annum, which is payable semi-annually on May 1 and November 1 of each year, beginning November 1, 2015. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The terms of the Indenture will, among other things, limit the company's ability to (i) incur or guarantee certain kinds of additional indebtedness and issue disqualified stock or preference shares of its subsidiaries; (ii) pay dividends or distributions, repurchase equity, prepay subordinated debt and make certain investments; (iii) enter into transactions with affiliates; (iv) incur liens on assets; (v) engage in a new or different business; or (vi) consolidate or merge with another person or sell or otherwise dispose of all or substantially all of its assets. The company may redeem up to 35% of the aggregate principal amount of the Notes, at any time and from time to time, at a price equal to 107.25% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before May 1, 2017, provided that following the redemption, at least 65% of the Notes that were originally issued remain outstanding and any such redemption occurs within 180 days following the closing of any such public equity offering. At any time prior to May 1, 2017, the company may redeem some or all of the Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after May 1, 2017, the company may redeem the Notes, in whole or in part, in cash at redemption prices specified in the Notes plus accrued and unpaid interest thereon. In addition, if the company undergoes a change of control, the company will be required to make an offer to purchase each holder's Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, up to but not including the repurchase date.

NewStar Financial, Inc. Announces Pricing of $300 Million Senior Notes

NewStar Financial, Inc. announced that it priced its previously announced offering of senior notes, consisting of $300 million in aggregate principal amount of its 7.25% Senior Notes due 2020. The proceeds, after the payment of fees and expenses, to NewStar of this offering are expected to be approximately $294.1 million. Subject to customary closing conditions, the closing of this offering is expected on or about April 22, 2015. NewStar intends to use the proceeds of this offering, after the payment of fees and expenses, to repay in full its corporate credit facility agented by Fortress Credit Corp. and use the remainder, if any, for general corporate purposes.

NewStar Financial, Inc. Announces $300 Million Offering of Senior Notes

NewStar Financial, Inc. announced the offering of $300 million aggregate principal amount of its senior notes due 2020. The company intends to use the proceeds of this offering, after the payment of fees and expenses, to repay in full its corporate credit facility agented by Fortress Credit Corp. and use the remainder, if any, for general corporate purposes. This announcement is neither an offer to sell nor a solicitation of an offer to buy the Notes. The Notes subject to the offering have not been and will not be registered under the Securities Act of 1933, as amended, or any state securities laws, and are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and to non-U.S. persons in offshore transactions in reliance on Regulation. Unless so registered, the Notes may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

 

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