TriplePoint Venture Growth expanded its revolving credit facility from $325 million to $350 million and added First Foundation Bank as a new lender.
The $25 million increase was made under the accordion feature in the facility, which allows the company, under certain circumstances, to increase the size of the facility to up to $400 million.
TriplePoint is a financing provider to venture growth stage companies backed by a select group of venture capital firms in the technology and other high growth industries.
“We are pleased to announce another expansion of our revolving credit facility,” Christopher M. Mathieu, CFO of TriplePoint Venture Growth, said. “We appreciate the continued support and partnership with our leading and expanded banking group.”
Borrowings under the credit facility are subject to various covenants, including the leverage restrictions contained in the Investment Company Act of 1940, as amended, provided that the company’s asset coverage ratio under the credit facility shall not be below 150%.