Corporate Capital Trust closed a new $200 million credit facility with Sumitomo Mitsui Banking. The facility bears an interest rate of the three-month Libor rate plus 1.75% if the average outstanding balance is greater than $100 million or the three-month Libor rate plus 2% if the average outstanding balance is less than $100 million. The credit facility matures in December 2020.
“We are pleased to form this relationship as the addition of the credit facility further strengthens our ability to execute on the opportunities arising in the market,” says Steve Shackelford, president and chief financial officer of the Orlando, FL-based Corporate Capital Trust. “Along with more than $2.5 billion in equity capital, we have a broad lender base of 21 financial institutions currently providing capital through our various facilities.”
Corporate Capital Trust is a non-traded business development company that offers individuals an opportunity to invest in privately owned American companies. The company is externally managed by CNL and KKR.
CNL Financial Group is a private investment management firm providing global real estate and alternative investments. New York-based KKR is a global investment firm that manages investments across multiple asset classes.