Venture Lending & Leasing IX upsizes credit facility to $400 million

By Wendy Van Sickle

Columbus, Ohio, May 23 – Venture Lending & Leasing IX, Inc. and Venture Lending & Leasing IX, LLC upsized its syndicated loan facility originally dated Dec. 20, 2018 on May 17 to increase the facility size by $50 million to $400 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also replaces Libor with SOFR as the interest-rate benchmark.

The agreement is led by MUFG Union Bank, NA, Wells Fargo Securities, LLC, Wells Fargo Bank, NA and ING Capital, LLC. MUFG Union is the administrative agent.

The borrower is a Portola Valley, Calif.-based non-diversified, closed-end management investment company that provides debt financing to venture capital-backed companies, usually in the form of secured loans.

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