Venture Lending & Leasing IX extends and upsizes credit facility

Chicago, March 22 – Venture Lending & Leasing IX, Inc. and Venture Lending & Leasing IX, LLC upsized and extended the syndicated loan facility originally dated Dec. 20, 2018 on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The borrower increased the revolving loan to $350 million from $200 million and extended the term of the facility to now expire on March 18, 2024.

An additional $50 million is potentially available to the fund as an accordion provision.

The amendment also puts into place benchmark replacement guidance.

The agreement was entered into with MUFG Union Bank, NA, Wells Fargo Securities, LLC, Wells Fargo Bank, NA and ING Capital, LLC. Other participation came from Bank Leumi USA, HSBC Bank USA, NA, Umpqua Bank, Zions Bancorporation, NA (d/b/a California Bank & Trust), Hitachi Capital America Corp., First Bank and Bank of Hope.

MUFG Union Bank, NA 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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