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TriplePoint Venture to borrow $20 million for investments, may repay
New York, July 11 – TriplePoint Venture Growth BDC Corp. plans to borrow $20 million under its $200 million revolving credit facility to make new investments, according to a 497 filing with the Securities and Exchange Commission.
The draw will also be used for working capital.
Interest on the loan is Libor plus 300 basis points.
The borrowings may be repaid using proceeds from the sale of $55 million of $25-par notes due 2022 if funds are left over after the redemption of the company’s $54.6 million of 6.75% notes due 2020, the filing said.
As of July 10, there were no borrowings under the credit facility.
TriplePoint is a Menlo Park, Calif., business development company that acts as the primary financing source for the venture growth stage business segment of TriplePoint Capital LLC, a provider of financing to technology, life sciences and other high growth companies backed by venture capital firms.
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