BRC Specialty Finance of BRC Group Holdings advanced $20M under a $100M senior secured delayed draw term loan to Enovum NC-1 Venture for a Madison, North Carolina AI-driven HPC data center buildout, bridging to permanent institutional financing. It also closed a $10M receivables-backed purchase agreement with a public tech client.
BRC Specialty Finance assumed a $20 million advance under a $100 million senior secured delayed draw term loan facility for Enovum NC-1 Venture LLC through an Assignment and Assumption Agreement, securing the same economic terms as the lead lender and targeting an attractive risk-adjusted yield on this 90-day credit bridge.
The advance will bridge the borrower to anticipated permanent institutional financing and fund completion of the first phase of an AI-driven high-performance computing data center in Madison, North Carolina, with proceeds available for general corporate purposes and growth initiatives.
The platform also completed a separate $10 million receivables-backed purchase agreement with a publicly traded technology company, delivering short-term liquidity to a repeat client and demonstrating BRC Specialty Finance’s focus on tailored debt solutions for middle market firms.
