Corporate Capital Trust again taps accordion, ups loan to $240 million

By Toni Weeks

San Diego, Aug. 24 - Corporate Capital Trust, Inc. subsidiary CCT Funding LLC amended its credit agreement on Aug. 20 with Deutsche Bank AG, New York Branch as administrative agent to exercise the accordion feature and add a new tranche of commitments.

According to an 8-K filing with the Securities and Exchange Commission, the tranche C loans, which are due Aug. 20, 2014, increase available borrowings to $240 million from $175 million and bear interest at Libor plus 170 basis points. Interest is payable monthly.

The facility was originally arranged on Aug. 22, 2011 and was subsequently amended on Feb. 28 to lift permitted borrowings to $175 million from $75 million. The tranche A and B loans under the credit facility are due Aug. 22, 2013.

CCT Funding has borrowed $152.54 million under the facility as of Aug. 24, according to the 8-K.

Corporate Capital Trust is an Orlando, Fla.-based business development company.

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