TSL Express Daily News

Siena Lending Group LLC("Siena") and Great Rock Capital ("Great Rock") closed a $130MM Senior Credit Facility for SkyWater Technology, a U.S.-based semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Supplier.

As amended, the revolving loan commitment has been extended and the capacity has been increased from $100MM to $130MM. The amended facility includes a new $25MM capital expenditure (CapEx) sublimit and a $30MM accordion feature.The Company intends to utilize the increased borrowing capacity to support ongoing capital investments, working capital, and growth initiatives as it continues to drive innovation in high-demand markets such as aerospace and defense, advanced compute, and biomedical industries.

"We are pleased to strengthen our partnership with Siena Lending Group and Great Rock Capital," said SkyWater Chief Financial Officer, Steve Manko. "The extended maturity and additional capacity reflect increased confidence in SkyWater’s financial performance and provide additional support for our strategic initiatives and future growth potential.”

“Siena and Great Rock Capital appreciate the opportunity to assist with SkyWater’s continued growth and the initiatives of its talented management team,” said Todd Eubanks, Deputy Chief Risk Officer of Siena Lending Group.“The amended and extended credit facility provides SkyWater with a strong and flexible capital foundation to execute on its business strategy.”

“Great Rock Capital is pleased to work alongside Siena to provide SkyWater with additional growth capital and financial flexibility to support their thriving business,” said Kathy Auda, Chief Risk Officer of Great Rock Capital. “SkyWater has been an excellent financial partner, and we look forward to supporting their future growth endeavors.”

About Siena Lending Group:

Siena Lending Group is a leading asset-focused lender providing financing solutions from $10 to $100 million across the United States and Canada. Siena operates across most industry sectors and provides senior secured solutions to privately held middle-market companies and publicly traded industry leaders. Siena has also earned a reputation as a trusted financing partner to private equity firms and other financial sponsors. Since 2012, Siena has consistently found creative ways to provide borrowers with maximum flexibility and liquidity. With deep lending experience and expertise in complex situations, clients know Siena brings the patience and perspective to help them work through challenges and achieve their long-term visions.

Siena is a portfolio company of Franklin BSP Lending Corporation, an affiliate of Benefit Street Partners L.L.C. ("BSP"). BSP, a leading credit-focused alternative asset management firm, is a wholly-owned subsidiary of Franklin Resources, Inc.

About Great Rock Capital:

Great Rock Capital is an asset-focused commercial finance company that specializes in serving the needs of middle market companies across the United States and Canada. The Company provides fast, flexible, and creative financing solutions that maximize liquidity and provide growth capital. The senior secured credit facilities offered by the firm range in size from $10MM to $100MM and include working capital, term-heavy, and term-only loan structures not provided by traditional commercial lenders. The firm has significant capital commitments from its partners, a private equity business, and a large institutional investor. To learn more, visit www.greatrockcapital.com.