Hercules Capital increased its committed letter of credit facility with Sumitomo Mitsui Banking Corporation by $75 million for a total of $175 million in credit capacity, subject to borrowing base, leverage and other restrictions. The increased credit facility also includes an uncommitted accordion feature of up to $400 million in total facility size.
“With the increase to our letter of credit facility with SMBC, we continue to expand and enhance our ability to provide flexible and expedient financing solutions to our current and prospective growth and late-stage venture portfolio companies,” Seth Meyer, CFO of Hercules Capital, said. “We want to thank SMBC for their continued support in helping us strengthen our industry-leading franchise.”
