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-Gemino Healthcare Finance closes credit revolver.

BANKING AND CREDIT NEWS-October 18, 2013--Gemino Healthcare Finance closes credit revolver(C)2013 M2 COMMUNICATIONS

18 October 2013 -- Philadelphia USA-based Gemino Healthcare Finance said it has closed a USD 100m four-year revolving credit facility with an accordion feature that allows for the expansion of the facility up to an aggregate of USD 150m.

The new facility, provided by EverBank Commercial Finance Inc replaces an existing facility and affords Gemino a greater ability to fund small and mid-size healthcare companies, the firm said.

Last week, Gemino announced it had been acquired by Solar Senior Capital Ltd. (NASDAQ: SUNS).

Gemino retained its name and will continue to be managed by its existing management team. Gemino's financial products include revolving lines of credit secured by accounts receivable used to support working capital needs, as well as senior secured term loans used primarily to fund acquisitions, debt restructurings and growth.

The firm provides senior loans to healthcare service providers throughout the US with typical financing needs ranging from USD 2m to USD 25m in the form of revolving lines of credit and term loans. Gemino also has offices in Atlanta and Dallas.

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1 USD = 0.6193 GBP

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Publication:M2 Banking & Credit News (BCN)
Date:Oct 18, 2013
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