Hercules Technology Growth Capital announced it has amended and restated its credit facility with MUFG Union Bank, effective August 14, 2014.

Under the amended and restated agreement, Union Bank has, among other things, agreed to:

  • Increase the size of the credit facility to $75 million in aggregate principal amount from $30 million and include an accordion feature, pursuant to which the Company may increase the size of the credit facility to an aggregate principal amount of $95 million by bringing in additional lenders, subject to the approval of Union Bank and other customary conditions.
  • Reduce the per annum interest rate on LIBOR borrowings from LIBOR plus 2.5% with a floor of 4% to LIBOR plus 2.25% with no floor.
  • Extend the maturity date of the credit facility to August 1, 2017.