Sound Point Meridian Capital, a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended, has entered into a $100 million “net asset value” revolving credit facility with Canadian Imperial Bank of Commerce (CIBC) as a lender and administrative agent, which may be increased up to $125 million pursuant to the terms thereof._x000D_
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The CIBC credit facility is secured by a first-priority perfected security interest in substantially all assets of the company, including, without limitation, all eligible portfolio investments of the company, subject to certain exceptions._x000D_
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Borrowings under the CIBC credit facility may be utilized for the company’s investment activities, working capital and general corporate purposes. Borrowings under the CIBC credit facility will bear interest at either (i) term SOFR plus a margin of 3.75% per annum or (ii) the alternate base rate plus a margin of 2.75% per annum. The company may only borrow at term SOFR rate at the time of drawdown, but the borrowings may be converted to bear interest at the alternate base rate under certain conditions._x000D_
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The CIBC credit facility will mature on July 8, 2026, which may be extended for an additional period of up to 364 days pursuant to the terms thereof.
Forward for Specialty Finance
