Corporate Capital obtains $75 million facility at Libor plus 170 bps

By Aleesia Forni

Columbus, Ohio, Aug. 26 - Corporate Capital Trust, Inc. entered into a new $75 million credit facility, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Pricing on the loans will bear a monthly interest of Libor plus 170 basis points.

The facility contains an accordion feature, allowing the maximum size to be increased to $250 million.

Use of the credit facility may commence after the company's net asset value reaches $15 million.

Deutsche Bank AG, New York Branch is the sole lender and administrative agent.

The facility will mature in 2013.

"We are pleased to form this relationship with Deutsche Bank and believe that the addition of this credit facility will allow Corporate Capital Trust to further execute on the opportunities we are seeing in the market," said president and chief executive officer Andy Hyltin, in a company press release.

Corporate Capital Trust is an Orlando-based business development and investment company.

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