subsidiary, People's United Bank, N.A., has announced its Healthcare Finance and Capital Markets divisions have provided a USD 92 million credit facility to
MidCap Financial, a specialty finance firm that provides senior debt solutions to companies across all industries, the company said.??The Facility provides a bridge enabling
MidCap to deliver fast execution and loan closings to borrowers who seek long-term permanent mortgage financing with a HUD, Freddie Mac or Fannie Mae loan, which can take a number of months to obtain approval and close.
Over the past three months, XMLV is higher by 0.20% while the S&P
MidCap 400 Index is lower by 3.7%.
(NYSE American: TXMD) has accessed the first draw down of USD 75m under its previously announced USD200 m term loan facility with
MidCap Financial, managed by Apollo Capital Management, L.P, the company said.
"The smallcap and
midcap indices have done exceptionally well as compared to the Sensex, mainly led by domestic inflows into mutual funds," said Rusmik Oza, Head-midcaps, Kotak Securities.
"The affirmation reflects our view that the $3.6 billion of assets that will be sold by MGEC to
MidCap, payable in cash, will be sufficient to repay all of MGEC's outstanding debt and other liabilities before the company winds down all its activities.
MidCap FinCo said that this will be a cash deal, but didn't disclose the value.
On a risk-adjusted basis, the
midcap performance was 50 percent better as measured by the Sharpe Ratio, which measures reward against the amount of risk taken.
In connection with the loan,
Midcap received five-year warrants to purchase some 1.1 million Epicept shares at USD0.63 apiece.
Nitin Rakesh, MD & CEO said, "We are excited to bring a brand new product to market - MOSt Shares M100 will be a 1st of its kind access into a
midcap basket and will provide all categories of advisors & investors the ability to allocate assets to
midcaps as a segment".
Asked what measures would most foster greater innovation amongst
midcap businesses, a quarter (23 per cent) cited a reduction in regulation and 14 per cent more tax breaks for investment in R&D, patent and licence applications, market research and technical training.
In the January-March quarter, the sales and profits of the BSE
Midcap Index companies increased by a robust 20% and 28%, respectively.
The
midcap index is at 7411, higher by 30 points and the smallcap index is at 9408, up 48 points.
