Corporate Capital Trust unit terminates credit arrangement with BNP

By Wendy Van Sickle

Columbus, Ohio, July 6 – Corporate Capital Trust, Inc. subsidiary Paris Funding LLC terminated its $200 million committed facility arrangement with BNP Paribas Prime Brokerage, Inc. on June 30, according to an 8-K filing with the Securities and Exchange Commission.

The credit facility was entered in June 2013.

The committed facility arrangement consisted of a set of agreements, including a committed facility agreement by and between the Corporate Capital Trust and BNP.

Corporate Capital Trust subsequently assigned the agreements relating to the committed facility arrangement to its Paris Funding LLC subsidiary. As part of that assignment, Paris Funding and BNP entered into an amended and restated committed facility agreement with BNP.

The committed facility arrangement and each of the underlying agreements with BNP were terminated on June 30, according to the filing.

The termination followed Corporate Capital Trust’s issuance on June 28 of $140 million of 5% unsecured notes due 2022.

Corporate Capital Trust is an Orlando, Fla.-based business development company that invests in privately owned American companies.

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