Medley Capital Adds OneWest Bank to Senior Credit Facility
Medley Capital Corporation announced the closing of $15 million of additional commitments to its senior secured revolving credit facility led by ING Capital. Total commitments to the credit facility are now $115 million and the accordion feature allows the company to increase the total commitments under the credit facility up to $125 million. OneWest Bank FSB joined the lending group and committed $15 million to the facility.
“We are pleased to add OneWest to our growing bank group” said Brook Taube, CEO of the company. “We intend to utilize the additional lending commitment to grow our investment portfolio and we look forward to working with OneWest as we expand our business in the years ahead,” continued Taube.
Medley Capital is an externally managed, non-diversified closed-end management investment company that is a direct lender targeting private debt transactions ranging in size from $10 to $50 million to borrowers principally located in North America.