Chicago Atlantic BDC, a specialty finance company that has elected to be regulated as a business development company, closed a new $100 million senior secured revolving credit facility led by an FDIC-insured financial institution. The credit facility matures in March 2028 and bears interest at SOFR plus 3.00%.
“We are pleased to close this new credit facility and secure an attractive source of additional capital from an industry-leading banking partner,” Scott Gordon, executive chairman and co-chief investment officer of the company, said. “With no current debt outstanding, the credit facility provides us with significant liquidity and the flexibility to grow the company’s portfolio as we seek to capitalize on the robust lending opportunities in the originations pipeline. We will continue to add investments to the portfolio in a disciplined manner and will take a prudent approach to balance sheet management, with a more conservative leverage profile than that of other BDCs.”
