MidCap Financial Trust amended OHA Investment’s credit facility, extending the maturity date to September 9, 2019. Maturity can be further extended for an additional six-month period at the company’s option.
In connection with the extension, OHA repaid a $7 million principal on its credit facility, reducing the principal amount outstanding to $29 million.
The repayment will be available to the company to be re-borrowed as a delayed draw term loan, which is committed until September 9, 2019.
In addition, the interest rate for the borrowings under the facility were reduced to LIBOR plus 4.95% for Eurodollar loans and prime plus 3.95% for base rate loans. Certain financial covenants were also amended.
OHA Investment is a specialty finance company which provides creative direct lending solutions to middle market private companies across industry sectors. It is externally managed by Oak Hill Advisors, an independent investment firm.
