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Atlanticus Holdings secures $100M credit facility

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Atlanticus Holdings secures $100M credit facility

Atlanticus Holdings Corp. secured a $100 million asset-backed, revolving credit facility with Credit Suisse.

With the new facility, the company has $190 million in committed debt capital to fund investments in its Fortiva-branded general-purpose credit card receivables.

The revolving credit facility follows the closing of Atlanticus Holdings' previous $90 million revolving credit facility with TowerBrook Capital Partners LP. Similar to the previous facility, the new one has a program under which the company can sell certain credit card receivables to a consolidated trust in exchange for notes issued by the trust. The notes are secured by the receivables and other assets of the trust.