ING, EverBank Provide $50MM Revolver to Sierra Income
Sierra Income announced the closing of a senior secured revolving credit facility led by ING Capital with an initial commitment of $50 million from ING Capital and EverBank Commercial Finance. The facility has an accordion feature that provides for expansion of the facility up to $100 million, subject to customary conditions.
“We are pleased to announce these institutional banking relationships with ING and EverBank. This credit facility allows us to expand our investment portfolio and direct lending activities as we increase our equity base,” noted Seth Taube, CEO of the company.