Corporate Capital unit obtains $200 million revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, Dec. 8 – Corporate Capital Trust, Inc. subsidiary CCT Tokyo Funding LLC entered a $200 million revolving credit agreement with Sumitomo Mitsui Banking Corp. on Dec. 2, according to an 8-K filed with the Securities and Exchange Commission.

Borrowings bear interest at Libor plus 175 basis points if advances are greater than $100 million or Libor plus 200 bps otherwise.

CCT Tokyo Funding will also pay a quarterly non-usage fee of 35 basis points for the first six months.

After that, the company will pay a 35 bps fee on any unused commitments if the average daily amount of advances during a remittance period is equal to or greater than the lesser of half of the borrowing base and $100 million. If the average daily amount of advances is less than the greater of those amounts, there will be an unused fee of 87.5 bps on for the amount of the difference in addition to the 35 bps fee on the remainder of the unused portion.

CCT Tokyo Funding’s obligations are secured by a first-priority security interest in substantially all of its assets.

Corporate Capital Trust is an Orlando, Fla.-based business development company that invests in privately owned American companies.

© 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.