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Cortland Appointed Administrative Agent on Kadmon Pharmaceuticals Loan Syndication
Debt Financing October 2010
CHICAGO, Oct. 28 /PRNewswire/ -- Cortland Capital Market Services LLC was appointed as Administrative Agent, Collateral Agent and Custodian on the recent debt financing for Kadmon Pharmaceuticals, LLC. Cortland will provide the borrower and lender group certain accounting, record keeping, calculation, and communication support.
"We are excited about Cortland's appointment. Our knowledgeable team of experienced agency services professionals is a perfect solution for Kadmon and the lender group," said Suzanne Smith, Managing Director of Cortland's Leveraged Loan Services.
Cortland has deep expertise providing agency services for loan syndicates across all major industry sectors. This financing will assist in Kadmon's recent acquisition of Three Rivers Pharmaceuticals, a Warrendale, Pennsylvania-based specialty pharmaceuticals company.
"It is on exactly this type of appointment that Cortland thrives," said Lora Peloquin, Managing Director of Business Development at Cortland. "Helping to facilitate growth in financing activity through more efficient processing is our passion; it's why we got into the business of bank loan servicing."
Colbeck Capital Management LLC, a special situations investment firm, served as financial advisor to Kadmon on its debt financing. Kaye Scholer LLP served as legal counsel to Cortland.
About Cortland Capital Market Services LLC
Chicago-based Cortland is a leading independent investment servicing company. The company provides bank loan servicing, fund administration, securitization services, and middle-office support to financial institutions including commercial lenders, proprietary trading and alternative investment managers, banks, and credit unions. Cortland's SAS70 Type II certified platform administers over US$4.2 billion (AUA) for 70+ clients, as of September 30, 2010. More information on the company, and its wholly owned subsidiary Cortland Fund Services LLC, is available at www.cortlandglobal.com.
SOURCE Cortland Capital Market Services LLC
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