TriplePoint Venture Growth (TPVG), a financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other industries, entered into an amendment to its revolving credit facility to, among other things, extend the revolving period from Aug. 31, 2024 to Nov. 30, 2025 and the scheduled maturity date from Nov. 30, 2025 to May 30, 2027. The company elected to reduce total commitments under the credit facility to $300 million to align with the company’s anticipated utilization, while maintaining an accordion feature that allows the company to increase the size of the credit facility to up to $400 million under certain circumstances.
Borrowings under the credit facility are subject to various covenants including the leverage restrictions contained in the Investment Company Act of 1940. Deutsche Bank served as facility agent and as a lender, together with KeyBank, MUFG Bank, Customers Bank, First Foundation Bank and EverBank under the credit facility.
“We value the long-term commitment from our world-class banking group,” Sajal K. Srivastava, president and chief investment officer of TPVG, said. “This credit facility continues to provide us with meaningful liquidity, a diversified capital structure and flexibility to grow the portfolio as we seek to capitalize on lending opportunities in this market.”
