Capitala Finance amended its senior secured revolving credit agreement with ING Capital as administrative agent, arranger and bookrunner.
According to a related 8-K filing, the amendment, among other things:
- Modifies the size of the current revolver commitments under the facility to $60 million
- Modifies the size of the accordion feature to $150 million
- Modifies the pricing to bear interest at a rate per annum equal to (i) the one, two, three or six month adjusted LIBOR (subject to a floor of zero), as applicable, plus 3.50% (in the case of eurocurrency loans) or (ii) 2.50% plus the highest of (A) a prime rate, (B) the Federal Funds rate plus 0.50%, (C) three month adjusted LIBOR plus 1.00% and (D) zero (in the case of alternate base rate loans), in each case of the preceding clauses (i) and (ii), subject to a 0.50% step-down in pricing when certain conditions are met
- Extends the expiration of the revolving period to October 31, 2021, Extends the stated maturity date of the credit facility to April 30, 2022.
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The credit facility will continue to be secured by a first priority security interest in all of the company’s and its subsidiaries’ portfolio investments (other than those held by the company’s existing SBIC subsidiaries), equity interests in certain of the company’s direct and indirect subsidiaries (other than the company’s existing SBIC subsidiaries) and substantially all of the company’s and its subsidiaries’ other assets.
