Daily News: April 1, 2013

ING Capital, AloStar Amend, Provide Medley Capital Facilities


Medley Capital announced that it amended its senior secured revolving and term loan credit facilities. The amendment increases the credit facility’s accordion feature from $300 million to $400 million of total commitments.

The company also closed an additional $14 million of commitments to the credit facility from AloStar Business Credit. The aggregate commitments to the revolving credit facility and to the term loan facility are now $209 million and $105 million, respectively. The credit facility was arranged and led by ING Capital.

“We are pleased to add AloStar to our growing bank group,” said Brook Taube, chief executive officer Medley. “We intend to utilize the additional lending commitment to grow our investment portfolio and we look forward to working with our bank group as we expand our business in the years ahead.”

Medley Capital is an externally-managed, non-diversified closed-end management investment company.

ING Capital is an indirect U.S. subsidiary of ING Bank NV, which is part of the global financial services company ING Group.