Prudential Private Capital established a strong relationship with Nowcom and its parent company, Nowlake, well in advance of there being a financing need. Over the course of several years, Prudential Private Capital developed a deep understanding of Nowcom and Nowlake’s business and its strategic goals. When Nowlake’s CFO expressed the desire to fund a distribution to Nowlake via a financing at Nowcom, Prudential Private Capital was well-positioned to efficiently execute and guide Nowcom through its inaugural financing transaction.
In July 2023, we provided $100,000,000 of long-term private placement debt to support Nowlake’s strategic goals. We worked closely with management to construct a long-term financing solution that provides Nowcom with flexible capital to grow its business and navigate through the current economic uncertainty. Nowcom and Nowlake appreciated our local, relationship-oriented lending approach and valued the benefits of stable and patient private placement debt.
We are proud to partner with Nowcom and look forward to continue supporting their goals.