WhiteHorse Finance amended its existing credit facility with J.P. Morgan Chase.

The amendment allows for an increased advance rate, a temporary reduction in the minimum funding amount, and a decrease in the concentration of second lien loans.

The new terms will allow WhiteHorse to reduce its outstanding debt on the facility with the cash raised from its recent public offering of $35 million aggregate principal amount of 6.50% notes due 2025.

The company believes the amendment positions it to achieve its long-term leverage target and portfolio composition goals.

Stuart Aronson, WhiteHorse Finance’s CEO, commented, “WhiteHorse Finance remains committed to its disciplined approach of sourcing transactions that generate attractive risk-adjusted returns consistent with the strong track record of our credit portfolio, all with the goal of enhancing value for our shareholders. JP Morgan continues to be a great partner as we position WhiteHorse Finance for growth.”

WhiteHorse Finance is a business development company that originates and invests in loans to privately held, lower middle market companies across a broad range of industries. The company’s investment activities are managed by its investment adviser, H.I.G. WhiteHorse Advisers, an affiliate of H.I.G. Capital.