JMP Group amended its credit facility with BNP Paribas to increase the maximum facility amount from $200 million to $403.3 million.

According to a related 8-K filing, the revolving credit facility with BNP Paribas financed the acquisition of a portfolio of assets, including certain debt obligations. The parties to the facility entered into an amendment to also increase the advance rate and change the end of the revolving period from October 5, 2017 to July 14, 2017.

The company intends to consolidate the loan portfolio until its maturity and expects to account for the transaction on its balance sheet as non-recourse debt.

San Francisco-based JMP Group, with offices across the country, is a diversified financial services firm with multiple lines of business and three principal operating subsidiaries.