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MidCap Financial secures $92M credit facility

Middle market-focused specialty finance firm MidCap Financial LLC secured a $92 million credit facility from People's United Bank NA's Healthcare Finance and Capital Markets Divisions.

The facility enables MidCap to execute and close loans to borrowers looking for long-term permanent mortgage financing with a HUD, Freddie Mac or Fannie Mae loan. The facility extends maturity of an existing syndicated line of credit provided to MidCap in 2017, for which People's United was the lead arranger.