Sierra Increases Facility to $300 Million
Sierra Income announced the closing of an amendment to a revolving credit facility through Alpine Funding, the company’s wholly owned special purpose financing subsidiary. The amended facility increased Alpine’s leverage capacity from $150 million to $300 million.
“We are pleased with the increase in Sierra’s overall leverage capacity,” said Seth Taube, CEO of Sierra. “We intend to utilize the additional leverage as we continue to execute and expand our investment objective.”
Sierra is a non-traded business development company that invests primarily in first lien senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt of middle market companies in a broad range of industries with annual revenue between $50 million and $1 billion.