Apollo Investment, a closed-end investment company, amended, extended and upsized its senior secured revolving credit facility. Lender commitments to the senior secured facility increased by $400 million from $1.19 billion to $1.59 billion.
According to the related 8-K filing, JPMorgan Chase Bank served as administrative agent on the transaction.
The amendment reduced the company’s minimum asset coverage financial covenant from 200% to 150% and included certain related changes to the borrowing base calculation. It also extended the maturity date of the facility from December 21, 2021 to November 19, 2023.
There was no change in the borrowing cost in connection with the amendment.