Fidus Investment amended its senior secured revolving credit facility led by ING Capital, increasing the commitments from $90 million to $100 million
The amendment includes an expansion of the accordion feature to $250 million to accommodate further growth of the company. The final maturity date was extended from June 16, 2019 to April 24, 2023. The pricing on the credit facility was reduced from LIBOR plus 3.50% to LIBOR plus 3.00%.
“The amended credit facility, combined with our recent debt offering, rounds out our current funding sources and provides us with additional growth capital and flexibility to continue to selectively grow our investment portfolio on attractive terms. It also complements our existing 10-year SBA financing through our small business investment company subsidiaries,” said Edward Ross, chairman and CEO of Fidus Investment. “We are truly appreciative of our partnership with ING Capital and the participant bank group in closing this important amendment for Fidus.”
Fidus Investment provides customized debt and equity financing solutions to lower middle-market companies.
