Citigroup Agents BlackRock Kelso Capital Facility Expansion
BlackRock Kelso Capital announced that it entered into a five-year $405 million amended and restated senior secured revolving credit facility.
Citigroup Global Markets and BMO Capital Markets acted as joint lead bookrunners and joint lead arrangers; Citibank is acting as administrative agent; and Bank of Montreal-Chicago Branch is acting as syndication agent.
The revolver has a maturity date of March 27, 2019, which includes a ratable amortization in the final year, and represents an increase of $55 million in revolving commitments over the prior revolving credit facility. The interest rate applicable to borrowings is generally LIBOR plus an applicable margin of 2.25%, a 25 basis point reduction from the prior revolving credit facility.
The facility also includes an accordion feature that allows the company, under certain circumstances, to increase the size of facility up to $750 million.