TriplePoint Venture Growth BDC, a financing provider to venture growth stage companies in the technology, life sciences and other high growth industries, amended and renewed its revolving credit facility.
Deutsche Bank served as administrative agent and as a lender, together with existing lenders KeyBank, TIAA, FSB, and MUFG Union Bank.
The amendment, among other things, increases the capacity from $210 million to $265 million and adds an accordion feature which allows the company, under certain circumstances, to increase the size of the credit facility up to $400 million. It also extends the revolving period to May 31, 2021 and the maturity date to November 31, 2022. Borrowings are subject to various covenants including the leverage restrictions contained in the Investment Company Act of 1940, as amended, provided that the company’s asset coverage ratio under the Credit Facility shall not be less than 150%.