Corporate Capital Trust amended its senior secured credit facility, resulting in an increased borrowing capacity, a reduced overall cost of the facility and an extended maturity date. The commitments under the senior secured credit facility now total $893 million, up from $710 million.

The stated interest rate was lowered to LIBOR plus 2% or LIBOR plus 2.25%, subject to borrowing base conditions. This is down from the previous rate of LIBOR plus 2.5%. The maturity date of the facility was also extended to April 2021.

JPMorgan Chase served as administrative agent for the transaction. ING Capital was syndication agent.

“We are pleased with the improvements to the credit facility, which include lower pricing and a longer term, in addition to the expanded commitments from a large and diversified bank group,” said Steve Shackelford, president of Corporate Capital Trust. “Having this additional capital will enable us to further capture investment opportunities as they arise.”

Corporate Capital Trust is a non-traded business development company that offers individuals an opportunity to invest in privately owned American companies.