Spring Oaks Capital Successfully Completes New Credit Facility and Capital Raise

CHESAPEAKE, VA. — Spring Oaks Capital, LLC is pleased to announce the closing of a new credit facility, as well as a large capital raise to support the growth of its technology-focused consumer debt investing and collections platform. The $150 million senior secured revolving credit facility provided by funds managed by Värde Partners and UBS O’Connor, coupled with a fourth-round capital raise will support the Company’s portfolio acquisition strategy along with the continued development of industry leading consumer engagement and analytical tools. The new credit facility reduces borrowing costs while increasing flexibility, positioning Spring Oaks to execute upon a robust pipeline of investment opportunities while building a platform with an unmatched compliance focus that empowers consumers on their journey to resolve the burden of financial debt through machine learning, data science, and deep industry expertise.

Tim Stapleford, President & CEO commented, “This is a significant milestone for Spring Oaks as we continue to build our leading portfolio acquisition platform, and we are thrilled to partner with Värde Partners and UBS O’Connor as we embark on the next chapter for our Company. We worked with the team at KBW and achieved this outcome in challenging market conditions, a testament to the company’s success. The new credit facility and capital raise further positions us to be the buyer of choice for sellers, from leading-edge financial technology lenders to global banking institutions seeking a well- capitalized, technology-enabled partner to transition customer relationships.”

About Spring Oaks Capital

Spring Oaks Capital is a national financial technology company, focused on the acquisition of non-performing credit portfolios. The Company subscribes to an employee and consumer-centric operating philosophy that creates high-value jobs, a significant performance lift and highest standards of compliance. Spring Oaks’ business strategy is rooted in innovative data-driven technology to maximize collection results and a contact platform that offers multi-channel options to meet each consumer’s communication preference. Spring Oaks has the management vision and experience to nurture a culture and DNA that is unique in the industry. To learn more about Spring Oaks, please visit www.springoakscapital.com.