Venture Lending cuts facility to $185 million, extends to 2026

By Mary-Katherine Stinson

Lexington, Ky., Nov. 1 – Venture Lending & Leasing IX, Inc. and Venture Lending & Leasing IX, LLC reduced their syndicated loan facility originally dated Dec. 20, 2018 to $185 million with scheduled 10% commitment reductions quarterly, subject to adjustment, according to an 8-K filing with the Securities and Exchange Commission.

There are scheduled 10% reductions in commitments on a quarterly basis.

The margin for SOFR loans was increased, and the maturity date of the facility was extended to March 31, 2026.

The changes were made on Oct. 26.

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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