TriplePoint Venture Growth amended its credit facility with Deutsche Bank as administrative agent, increasing the capacity to $210 million and extending the revolver period to February 20, 2020.
TriplePoint Venture Growth is a financing provider to venture growth stage companies backed by a select group of venture capital firms in the technology, life sciences and other high growth industries, amended its revolving credit facility.
Deutsche Bank, New York Branch served as administrative agent and lender on the facility, in conjunction with existing co-lenders KeyBank and EverBank Commercial Lender Finance and new lender MUFG Union Bank.
The amendment, among other things, increased the total credit capacity to $210 million and extended the revolving period from February 21, 2018 to February 21, 2020 and the maturity date from February 21, 2019 to August 21, 2021.
The amendment also included a reduction in the undrawn rate from 0.75% to 0.50% and a reduction in the applicable margin during the revolving period to 2.80% if facility utilization is greater than or equal to 75%, 2.90% if utilization is greater than or equal to 50% and 3.00% if utilization is less than 50%.
