Flat Rock Capital Corp. Announced Signing of a Four-Year, $20 Million Financing Facility with AloStar Capital Finance

NEW YORK, Oct. 18, 2018 /PRNewswire/ -- Flat Rock Capital Corp. announced today that it has entered into a $20 million financing facility with AloStar Capital Finance, a division of State Bank and Trust Company.  Pricing under the Facility is based on LIBOR plus a spread of 2.88% per annum for the relevant period.  Advance rates on eligible investments range from 70-75%.  

"We are excited to partner with AloStar for this financing facility," said Robert Grunewald, Chief Executive Officer of Flat Rock Capital Corp. "We look forward to continuing to grow our relationship with AloStar over time."

Richard Petrocelli, Chief Operating Officer of Flat Rock Capital Corp. added, "With the closing of this financing arrangement, we are now well on the path to leveraging our initial equity raised. We believe Flat Rock Capital Corp.'s ability to raise debt financing from an independent financial institution further demonstrates our position as a leading non-traded business development company and is a reflection of the quality of our loan portfolio and our management team."

About Flat Rock Capital Corp.   
Flat Rock Capital is a specialty finance company that provides financing solutions to U.S. middle-market businesses. The Company invests in first liens loans to U.S. middle market businesses to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Flat Rock Capital's objective is to preserve capital while generating current income from its debt investments. Flat Rock Capital has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940 and is externally-managed by Flat Rock Global, LLC, an SEC-registered investment advisor focusing on credit-driven strategies. 

About Flat Rock Global, LLC 
Flat Rock Global, the advisor for Flat Rock Capital, is an Alternative Credit Manager focused on investing in less efficient areas of the credit markets.    Flat Rock Global is also the investment advisor to Flat Rock Opportunity Fund, an interval fund investing in CLO equity. Flat Rock Global funds are available to Institutional Investors, Family Offices, and Registered Investment Advisors. 

To learn more about the firm, please visit www.flatrockglobal.com   

About AloStar Capital Finance
AloStar Capital Finance provides capital and counsel to business leaders across America who are creating their own success stories. Through our Asset-Based and Lender Finance platforms, we create customized lending solutions for customers with capital requirements up to $60 million. To date, AloStar has closed more than 180 deals with commitments totaling more than $2.3 billion. At AloStar, you'll have direct access to decision makers with deep capital industry experience who are responsive, flexible and eager to help you write your success story. 

AloStar Capital Finance is a division of State Bank and Trust Company, Member FDIC. For more information, visit www.AloStarBank.com

SOURCE Flat Rock Global, LLC