Corporate Capital subsidiary gets $300 million four-year revolver

By Angela McDaniels

Tacoma, Wash., Dec. 2 – CCT SE I LLC, a newly formed special-purpose financing subsidiary of Corporate Capital Trust, Inc., entered into a $300 million revolving credit facility due Nov. 29, 2020 on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

The revolver has a $100 million accordion feature, subject to a fee of 50 basis points.

The interest rate is Libor plus 300 bps.

The non-usage fee is 50 bps and steps up to 100 bps on May 30.

The borrower paid an upfront fee of $1.5 million.

JPMorgan Chase Bank, NA is the administrative agent and a lender.

CCT SE’s obligations to JPMorgan under the credit facility are secured by a first-priority security interest in substantially all of its assets, including its portfolio of loans. The obligations of CCT SE under the credit facility are non-recourse to Corporate Capital.

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.