MidCap Financial Closes $150mm Senior Secured Credit Facility to XBP Americas, LLC

BETHESDA, MD, August 11, 2025 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a senior secured revolving credit facility (the “ABL Credit Agreement”) to XBP Americas, LLC (formerly known as Exela Technologies BPA, LLC (the “Company”)), a subsidiary of Nasdaq listed XBP Global Holdings, Inc. The agreement provides for a $150,000,000 revolving credit facility secured by ABL Priority Collateral with a maturity date 36 months from closing, among other customary provisions. Proceeds from the credit facility were used to refinance the Company’s existing debt, facilitate the Company’s emergence from Chapter 11, and to support its ongoing working capital needs.

About XBP Americas

XBP Americas is a key division of XBP Global Holdings, Inc., a multinational leader in business process automation serving over 2,500 clients—including more than 60 Fortune 100 companies—across 20 countries with approximately 11,000 employees. The name “XBP,” which stands for “exchange for bills and payments,” reflects the Company’s strategy to connect buyers and suppliers across industries, including banking, healthcare, insurance, utilities and the public sector, to optimize clients’ bills and payments and related digitization processes. Its proprietary software and deep domain expertise position it as a trusted technology and services partner. With cloud-based solutions and a global footprint, XBP Global delivers measurable value, improves advances digital transformation, improves market-wide liquidity by expediting payments, and promotes sustainable business practices.

About MidCap Financial

MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of June 30, 2025, MidCap Financial provides administrative or other services for approximately $58 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $840 billion as of June 30, 2025, in credit, private equity and real assets funds.

For more information about MidCap Financial, please visit www.midcapfinancial.com.

For more information about Apollo, please visit www.apollo.com.

*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV

Contact: 

MidCap Financial Services, LLC
Garrett Fletcher, President of Structured Finance
301-841-6439
gfletcher@midcapfinancial.com