Medley Capital announced an amendment, extension and reduction in pricing to its existing term loan credit facility and revolving credit facility.

Medley said the financing was led by ING Capital.

The pricing on the term loan facility was reduced from LIBOR plus 3.25% to LIBOR plus 3.00% with no floor. The pricing on the revolving facility will remain the same at LIBOR plus 2.75% with no floor. Both the term loan facility and revolving facility will decrease by an additional 25 basis points upon receiving an investment grade rating from Standard & Poor’s.

Additionally, the term loan facility’s bullet maturity was extended from June 2019 to July 2020 and the revolving facility’s revolving period was extended from June 2017 to July 2019, followed by a one-year amortization period and a final maturity in July 2020. The combined revolving facility and term loan facility’s total commitment and accordion feature remained the same at $517.5 million and $600 million, respectively.

New York-based Medley Capital is a closed-end, externally managed business development company.