Hercules Capital, a specialty financing provider to venture, growth and established stage companies, renewed and upsized its existing $225 million credit facility with Sumitomo Mitsui Banking (SMBC) with an upsized credit facility under which Synovus Bank, Customers Bank and Apple Bank, together with SMBC, have committed a total of $300 million in credit capacity subject to borrowing base, leverage and other restrictions. The renewed credit facility also includes an uncommitted accordion feature expandable up to $500 million. The renewed credit facility matures in November 2029, including a 12-month amortization period.
“With the renewal and increase in our credit facility with SMBC, we continue to strengthen our capital resources and enhance our operational flexibility while maintaining an optimal cost of capital,” Seth Meyer, chief financial officer of Hercules Capital, said. “We want to thank SMBC for their continued support of our industry-leading franchise.”
