Business development company Capitala Finance announced the expansion of total commitments under its credit facility from $80 million to $120 million. The $40 million increase in total commitments was the result of new lender relationships, which further diversifies the Capitala lending group under the credit facility to eight participants.
According to a related 8-K filing, the lender group was led by ING Capital, as administrative agent, arranger and bookrunner.
Capitala said the recent increase in total commitments was executed under the accordion feature of the credit facility which allows for an increase in total commitments under the facility up to $150 million. The recent increase in total commitments provides the company with access to additional financing capacity in support of its future investment and operational activities.