Daily News: December 20, 2017

ING Capital Agents THL Revolver Amendment


THL Credit, a direct lender to lower middle market companies, amended and extended its revolving credit facility with ING Capital as agent.

The facility’s availability period was extended from August 2019 to December 2021, followed by a one-year amortization period with a final maturity in December 2022. Commitments under the revolving facility have also been reduced to $275.0 million from $303.5 million, while the company’s existing $75 million term loan facility has been refinanced into the revolver.

The pricing on the revolving facility remains the same at LIBOR (with no floor) + 2.50%. The term loan facility was previously priced at LIBOR (with no floor) + 2.75%.

“We are very pleased to announce this amendment and to continue our long term relationship with our lenders,” said Terry Olson, CFO and COO of THL Credit. “We are continually looking for opportunities to lower our cost of capital. Refinancing and reducing our loan facility reduces our borrowing costs and helps drive shareholder value.”