Logan Ridge Finance amended and extended its existing senior secured revolving credit facility with KeyBank. Under the terms of the amendment, the applicable margin during the reinvestment period was reduced from 2.90% per annum to 2.80% per annum, and the applicable margin during the amortization period was reduced from 3.25% per annum to 3.20% per annum. The reinvestment period was also extended from May 2025 to August 2027, and the maturity date was extended from May 2027 to August 2029.
The credit facility continues to provide for borrowing of up to $75 million and an uncommitted accordion feature that allows the company to borrow up to an additional $125 million. Furthermore, under the terms of the amendment, the advance rates and concentration limits were revised, which should create meaningful additional borrowing capacity for the company.
