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Marathon Asset Management Closes $100 Million Senior Secured Bonds Financing To Foraco International

Jul 13, 2021•about 4 years ago

Amount Raised

$100 Million

Description

Marathon Asset Management today announced the closing of a $100 million senior secured bonds financing to Foraco International SA (the "Company" or "Foraco"), a leading global provider of mineral drilling services. Proceeds from the financing repaid existing indebtedness and provided additional liquidity and growth capital as the Company executes on its long-term business plan. The transaction also enabled Foraco to materially reduce its net debt outstanding.

Company Information

Company

Marathon Asset Management

About

Marathon Asset Management LP is a global credit manager with over $23 billion in assets under management. The firm was formed in 1998 by Chairman & CEO Bruce Richards and CIO Louis Hanover and has offices in New York City, London and Tokyo. Marathon's core competency is opportunistic investing in the global corporate, emerging market and structured credit markets. Its Capital Solutions platform specializes in designing bespoke private credit transactions to high-quality companies and seeks to invest $50 million to $500 million per transaction. Marathon provides partnership capital to sponsors and management teams primarily in the form of senior secured unitranche loans, junior lien debt, mezzanine debt, convertible bonds and preferred equity. For additional information, please visit www.marathonfund.com.

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