OTC Global Holdings (OTCGH) secures $55 Million Loan to Fuel Strategic Growth

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Nov 28, 2022, 06:00 ET

OTC Global Holdings (OTCGH) today has announced the closing of a senior secured term-loan financing provided by Whitehorse, a credit affiliate of global investment firm H.I.G. Capital.

HOUSTON, Nov. 28, 2022 /PRNewswire/ -- Over the past 15 years, OTC Global Holdings has transformed into a highly technological interdealer brokerage firm focused 100% on global commodity markets, and being named Broker of the Year in 2011, 2016, 2017, 2019, and now 2022. OTCGH has built an unparalleled business model, focusing on the three key operational pillars of high quality execution, unrivaled customer service and innovative technology. OTCGH's portfolio includes nearly 20 of the industry's most powerful and agile independent brokerages across the world.

"We are pleased to announce today our partnership with a leading alternative asset manager in H.I.G. Whitehorse, who we believe will help bolster our record growth and consolidate our global position as the largest independent interdealer broker. We look forward to continuing to build out our platform while attracting the best talent across the world," said Javier Loya, Chairman and Co-CEO of OTC Global Holdings.

OTCGH intends to use the proceeds to fuel its strategic acquisitions roadmap and continue to recruit top brokerage talent. "We are very excited about our markets and the prospect of opportunity that the partnership with H.I.G. Whitehorse offers for us to continue to innovate in every commodity market around the world," added Joe Kelly, President and Co-CEO of OTC Global Holdings.

In reference to the financing provided, Sam Goldworm, Managing Director at WhiteHorse Capital, said "We look forward to working with the OTC management team to support the continued growth of the platform."

About OTC Global Holdings

OTCGH is the world's largest independent institutional broker of commodities, covering financial and physical instruments from offices in Chicago, Geneva, Houston, London, Louisville, New York and Singapore. OTCGH has been awarded "Broker of the Year" by Energy Risk. With a portfolio of nearly 20 companies, OTCGH is a liquidity provider on CBOT, ICE, NYMEX, and NODAL. The company serves more than 450 institutional clients, including over 70 members of the Global Fortune 500, and transacts in hundreds of different commodity delivery points in Asia, Europe and the Americas. www.otcgh.com

About H.I.G. Whitehorse

H.I.G. WhiteHorse is the credit affiliate of H.I.G. Capital, focused on providing flexible debt financing solutions to middle market companies in Europe and the United States. Operating a broad investment mandate, H.I.G. WhiteHorse provides unitranche, senior and subordinated debt capital for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. Credit facilities typically range from €50 million to €175 million for companies with revenues of €30 million or more. For more information, please refer to the WhiteHorse website at: www.higwhitehorse.com.

SOURCE OTC Global Holdings