These amendments, among other things, include the reduction of the stated interest rate from LIBOR plus 2.00% to LIBOR plus 1.875%, subject to certain requirements, and the extension of the final maturity date from February 21, 2023 to February 25, 2025.
In addition, upon the consummation of the company’s merger with Goldman Sachs Middle Market Lending (MMLC), the size of the Truist revolving credit facility will increase from $795 million to $1.695 billion and the accordion feature will be increased to allow the Company to increase the total facility size from up to $1 billion to up to $2.250 billion, subject to certain other limited conditions.
“We believe these changes to our revolving credit facility further strengthen the Company’s balance sheet and funding profile. Furthermore, we are gratified by the support from both our lending syndicates in Goldman Sachs BDC and Goldman Sachs Middle Market Lending to increase the size of GSBD’s revolving credit facility upon the consummation of a merger with MMLC,” said Jonathan Lamm, CFO of Goldman Sachs BDC.
Goldman Sachs BDC is a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940.