Medley Capital Announces Addition of Barclays to Credit Facility
Medley Capital Corporation announced the closing of $25 million of additional commitments to its senior secured revolving credit facility led by ING Capital. Total commitments to the credit facility are now $85 million and the accordion feature allows the company to increase the total commitments under the credit facility up to $125 million. Barclays Bank joined the lending group and committed $20 million to the facility. ING Capital increased its existing commitment from $25 million to $30 million.
“We are delighted to have Barclays join our lending group and we look forward to working with them as we continue to execute on our business plan,” said Brook Taube, CEO of company. “We also appreciate ING’s continued support of our business. These additional lending commitments will enable us to continue to grow our investment portfolio at a time when market opportunities remain attractive.”
Medley Capital is a newly organized, 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.