WINSTON-SALEM …Â John C. Fox, a 25-year veteran of commercial banking and former Wachovia Securities executive, is launching a company to address the growing gap between supply and demand in the senior debt marketplace.
Woodfield Capital, based in Winston-Salem, will specialize in providing senior loans to domestic companies that qualify for and rely upon senior debt to finance their operations.
“There are significant market needs for services that Woodfield Capital will provide. Commercial banks are significantly reducing credit commitments due to industry consolidation, profit pressures and the credit quality concerns associated with the current economic downturn,” Fox said in a statement. “At the same time, borrower demand for senior debt has been stable and likely will increase as the economy rebounds. As product specialists, Woodfield Capital intends to work with select clients in conjunction with their commercial banks to meet their evolving credit needs.”
Funded by an equity offering and note placement, Woodfield Capital will originate senior loans to companies nationwide, generally in the $75 million to $750 million sales range. The company will offer variable rate loans, which are primary in position for repayment by commercial borrowers.
Fox worked for Wachovia Bank and Wachovia Securities for 20 years. As a commercial banker, he advised a range of smaller companies to Fortune 500 companies and has seen the power of enduring relationships in creating business success.
Woodfield Capital: www.woodfieldcapital.com