Harvest Capital Credit (HCAP) and Portman Ridge Finance (PTMN) entered into a definitive agreement under which HCAP will merge with and into PTMN, a business development company managed by Sierra Crest Investment Management.
Crystal Financial funded a $15.0 million senior secured term loan to support ProAir’s acquisition of Bus Air Manufacturing.
Harvest Capital Credit closed a $10.8 million junior secured debt financing for Yucatan Foods in support of a recapitalization and to finance the company’s strategic growth initiatives.
Harvest Capital Credit said it has amended its revolving credit facility with CapitalSource and City National Bank to extend the maturity date and reduce the interest rate spread by 125 bps.
Harvest Capital Credit closed a five-year credit facility with an initial commitment of $55 million. The facility was arranged by CapitalSource Bank. Both CapitalSource Bank and City National Bank are lenders.