Medley Management amended its credit facility, extending the maturing date to March 31, 2020 and keeping the amount of the revolver at $15 million.

According to a related 8-K filing, City National Bank served as administrative agent for the facility, which includes a $10 million accordion feature.

The interest rate margin with respect to ABR loans was reduced to 0.25% and with respect to Eurodollar loans was reduced to 2.50%, with customary increases in each case upon the occurrence of an event of default.

In addition, the amendment increases the level for the net leverage ratio financial covenant from 3.5 to 1.00 to now be set at 5.00 to 1.00. Two additional financial covenants have been implemented: a total leverage ratio set at 7.00 to 1.00 and a minimum ore EBITDA set at $15 million, each calculated for the immediately preceding four fiscal quarters.