Versana has surpassed a key milestone of more than 1,500 syndicated loan facilities and approximately $900 billion in global loan commitments on its transformative, real-time digital data platform in less than a year since its product launch.

The 1,500 facilities milestone demonstrates Versana's continued success in bringing long-awaited modernization to the syndicated loan market. Launched and live in December 2022 with founding investors Bank of America, Citi, Credit Suisse and J.P. Morgan, Versana was created to address the operational inefficiencies and technological fragmentation in the global investment grade and leveraged loan markets. The Versana platform is the market's first multi-tenant solution centralizing syndicated loan data flowing from administrative agents' books and records in real-time via APIs. By providing greater transparency into loan level details and lender portfolio positions, Versana facilitates straight-through processing and long-term, scalable market growth, enabling participants to move from legacy manual processes to a state-of-the-art, self-service platform that lays the foundation for future market innovation.

"With over 1,500 credit facilities totaling $900 billion in global loan commitments on our platform, we're fulfilling Versana's mission set out at inception – to make the syndicated loan market better," said Versana's Founding CEO Cynthia E. Sachs. "This milestone materially boosts transparency and represents true collaboration in revolutionizing the broadly syndicated loan and private credit markets."

Joseph Ferraiolo, Head of Debt Capital Markets Operations & Merchant Bank Policy at J.P. Morgan, said: "This is a great initial victory, for both Versana and the broadly syndicated loan market, in digitally delivering to lenders loan level details for over 1,500 credit facilities. As more market participants connect to Versana, the loan market's transformation can be accelerated by the connectivity from agents to lenders, and to third party service providers. This step of connecting the network is a huge one on the path to digitize data flow leading to continued improvements in operational efficiencies and transparency for our clients."

Andrew Scott, Head of Innovation Strategy for Global Capital Markets at Bank of America, added, "Surpassing 1,500 facilities on the Versana platform is a big win for the centralized solution. The platform will help take the syndicated loan markets to the next level and grow liquidity in the market."

Surpassing the 1,500 loans milestone represents a continuation of significant growth and success for Versana in 2023. In March, the company announced that Deutsche Bank, Morgan Stanley, U.S. Bancorp and Wells Fargo had joined the platform as investors and have also committed to contribute agented loan data and become Versana clients.