| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers C > Headlines for Corporate Capital Trust, Inc. > News item |
Corporate Capital adds tranche, amends pricing, maturity on old loans
By Marisa Wong
Madison, Wis., Feb. 14 - Corporate Capital Trust, Inc. wholly owned subsidiary CCT Funding LLC entered into a third amendment to its credit agreement with Deutsche Bank AG, New York Branch on Feb. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The third amendment extends a new $100 million tranche of commitments, the tranche D loans, for total available borrowings of $340 million.
In addition, the latest amendment reclassifies prior tranche B loans as tranche B2 loans and prior tranche C loans as tranche B1 loans.
According to the 8-K, the third amendment also modifies the interest rate and maturity date for all existing loans under the credit agreement, except the tranche A loans.
Interest for the tranche B1, B2 and D loans will equal Libor plus a spread of 150 basis points, 232.5 bps and 232.5 bps, respectively. Interest for the tranche A loans is one-month Libor plus 170 bps.
Tranche A loans are due Aug. 22, 2013, tranche B1 loans are due Feb. 11, 2014, and tranche B2 and D loans are due Feb. 11, 2015.
Previous amendments
CCT previously amended its credit agreement on Aug. 20 to exercise the facility's accordion feature and add a tranche of commitments, the tranche C loans. According to a prior 8-K filing, the tranche C loans increased available borrowings to $240 million from $175 million.
Before that, the facility was amended on Feb. 28, 2012 to lift permitted borrowings to $175 million from $75 million with the tranche B loans.
The facility was originally arranged on Aug. 22, 2011, providing for up to $75 million of tranche A loans.
Corporate Capital Trust is an Orlando, Fla.-based business development company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.