J.P. Morgan, ING Increase Corporate Capital Trust Facility
Corporate Capital Trust announced that it closed on a new senior secured revolving credit facility in the initial amount of $285 million. J.P. Morgan Securities and ING Capital served as the joint lead arrangers of the facility, with nine commercial banks participating in the initial lending syndicate.
The credit facility is set to mature in September 2017 and is expandable to $600 million.
“We are pleased to be able to form this credit facility with J.P. Morgan, ING Capital and these other substantial commercial banks. We see a significant market opportunity today to invest in directly originated middle-market loans and the addition of this facility significantly expands our ability to invest in this opportunity,” said Andy Hyltin, CEO of Corporate Capital Trust.
Corporate Capital Trust is a non-traded business development company that offers individuals the opportunity to invest in the debt of privately owned American companies.