People’s United Bank, N.A. a subsidiary of People’s United Financial, Inc., announced its Commercial Banking division acted as Lead Arranger for a three-year, $60 Million expandable Senior Revolving Credit Facility for NS Leasing, LLC dba North Star Leasing Company, a Vermont-based micro-ticket leasing company specializing in equipment financing for businesses in a variety of industries.
People’s United renewed and upsized the previous Revolving Credit Facility it provided to North Star Leasing in August, 2016 of $45 Million.
“We are excited to strengthen our existing relationship with North Star Leasing, who will use the facility to support their growing pipeline,” said Ken Jamison, Managing Director of Loan Syndications. “It’s through long-term relationships with specialized companies like North Star Leasing that we are able to deliver customized financing solutions to meet the dynamic needs of our clients.”
Founded in 1979 with headquarters in Burlington, VT, North Star Leasing provides specialized lease solutions across numerous industries. North Star Leasing works with thousands of equipment vendors, manufacturers, and resellers to help end customers finance and access mission critical equipment. North Star Leasing is owned by Copley Equity Partners.
“The expansion of our existing credit facility is a vital component to support our aggressive growth plans for 2019 and beyond, as we aim to further penetrate the markets we serve,” said Dan Feeney, CEO, North Star Leasing Company. “People’s United’s ability to serve as an advisor, providing flexible solutions that evolve as our needs do, is critical in this ever-changing market.”
People’s United’s Commercial Banking team is comprised of in-market financing specialists across the bank’s Northeast footprint whose focus is on local relationship development and origination. The team partnered People’s United Loan Syndications division to complete the North Star transaction. People’s United Loan Syndications provides financing solutions through the underwriting and approval of credit facilities of $50 million and greater for acquisitions, working capital needs or debt restructuring.