Mezzanine financing, another quasi source of capital, is placed between equity and debt in the capital structure of a project. Mezzanine financing can range in value from $5 million to $100 million and a maturity of two to five years. Mezzanine debt is subordinated to senior debt and is considered a quasi debt/equity instrument as it may have features that enable it to be converted to equity.
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13 Houston Business Journal - www.houston.bizjournals.com