Gladstone renews $125 million revolver, seeks commitments from additional lenders to increase size

By Sara Rosenberg

New York, Oct. 16 - Gladstone Investment Corp. renewed its revolving credit facility, which is now due April 16, 2009, according to a news release.

Deutsche Bank, the administrative agent, is providing $125 million of the revolver commitments and the company is working with other lenders to increase the facility to $200 million.

The revolver is priced at the commercial paper rate plus 350 basis points, with a 75 bps commitment fee.

Proceeds will be used to make loans and investments in small- and middle-market businesses.

Gladstone is a McLean, Va.-based investment company.

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