NewtekOne, Inc. Retires $95 Million of Senior Unsecured Notes

Core Viewpoint - NewtekOne, Inc. has successfully retired $95 million of fixed-rate senior notes, marking a significant step in its financial management and transition from a Business Development Company (BDC) to a technology-enabled financial holding company [1]. Group 1: Financial Management - The company funded the $95 million repayment using $87.1 million of working capital and an exchange offer that involved $7.9 million of NEWTZ notes being exchanged for newly issued NEWTO notes [1]. - Since 2018, NewtekOne has redeemed a total of $294 million in senior notes, demonstrating a consistent strategy in managing its debt obligations [1]. - The retired notes were the last remnants of debt issued as a BDC, indicating a shift in the company's capital structure [1]. Group 2: Company History and Stability - NewtekOne has a 25-year history as a public company, successfully navigating various economic challenges, including 9/11, the Great Financial Crisis, and the COVID-19 pandemic [1]. - The company has maintained a strong track record, having never missed a principal or interest payment on its debt [1]. - The 17 securitizations issued by the company have either maintained their initial investment-grade ratings or been upgraded, with none being placed on credit watch [1]. Group 3: Business Solutions Offered - NewtekOne provides a wide range of business and financial solutions, including banking, business lending, SBA lending solutions, electronic payment processing, accounts receivable financing, insurance solutions, and payroll and benefits solutions [2][3]. - The company also offers technology solutions such as cloud computing, data backup, IT consulting, and web services through its subsidiary Intelligent Protection Management Corp [3].