Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Alcentra Capital Corp. > News item |
Alcentra gives more detail on amendment to revolving credit facility
By Marisa Wong
Madison, Wis., Dec. 29 – Alcentra Capital Corp. disclosed more details on the recent amendment to its senior secured revolving credit agreement in an 8-K filed Monday with the Securities and Exchange Commission.
As previously announced, Alcentra increased its revolving credit facility by $35 million to $115 million.
The facility has an accordion feature that allows the company to increase the facility to $160 million.
The amendment, entered into on Dec. 19, also increases the threshold under which the borrowing base may consist of 12 issuers.
In addition, the company amended the facility to increase the required weighted average leverage ratio from 4.0 times to 4.5 times; increase the permitted amount of investments that are not in cash or cash equivalents, first-lien bank loans, last-out loans or second lien bank loans from not more than 40% to not more than 50%; modify the test for the minimum obligors’ net worth to include unsecured longer term debt not exceeding $50 million; and modify the eligibility criteria to permit, under certain circumstances, investments with EBITDA of less than $20 million.
ING Capital LLC is the administrative agent and arranger.
Alcentra is a New York-based externally managed, closed-end, non-diversified management investment company. Its investment activities are managed by adviser Alcentra NY, LLC.
© 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.