IFC Credit Corporation Announces New Credit Facility

MORTON GROVE, Illinois, August 21, 2007 –
IFC Credit Corporation today announced it has established a new $50 million credit facility with HSH Nordbank AG.  The funds will be used to accommodate IFC’s continued double-digit annual growth in commercial equipment leasing and financing.
The new facility provides additional capacity to IFC’s existing conduit financing of $75 million, and warehouse and term facilities of $50 million.  These facilities are an integral part of funding IFC’s total managed portfolio in excess of $250 million.
“We are very pleased to be associated with HSH Nordbank, and appreciate their reputation and knowledge of the equipment leasing industry”, stated Rudy Trebels, President and CEO of IFC.   “This facility provides us with substantial flexibility at an attractive cost of capital, and allows us to continue our aggressive growth in select equipment leasing markets.”
With approximately 4,400 employees around the world, HSH Nordbank AG is one of Germany’s largest providers of financing to independent leasing companies and is an acknowledged partner in international capital markets. Headquartered in Hamburg and Kiel, Germany, the Bank has an extensive network of branches and offices throughout Northern Europe, with 17 international locations, including Hong Kong, London, and New York. Additional information on HSH Nordbank AG can be found at the company’s website: www.hsh-nordbank.com.
Marc Langs, Chief Financial Officer for IFC, stated, “IFC Credit is pleased that in the current economic climate of tightening credit markets, we are able to attract solid partners like HSH Nordbank to provide credit facilities to fund our ongoing growth.”
About IFC Credit Corporation
IFC Credit Corporation is a national equipment leasing and finance company providing innovative services to manufacturing, wholesale, and professional service industries.  Headquartered in Morton Grove, Illinois, the company was founded in 1988 and serves a broad market from small businesses to Fortune 500 companies. The company is leading independent lessor that is included in the Monitor 100 list of top equipment leasing companies nationwide.
 


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