ING Leads Sierra Facility
Sierra Income closed of an additional $20 million of commitments to its senior secured revolver, arranged and led by ING Capital. One additional lender joined the lending group and committed the $20 million to the facility. Total commitments are $170 million, and the facility provides for an aggregate accordion feature up to an aggregate maximum amount of $500 million.
“We are pleased to increase the commitments to our credit facility through the expansion of our lender group,” said Seth Taube, CEO of the company. “We intend to utilize the additional lending commitment to continue to grow our investment portfolio and we look forward to working with the lender group as we expand our business in the years ahead,” continued Taube.