Hercules Technology $50 million revolver priced at Libor plus 325 bps

By Sara Rosenberg

New York, Aug. 27 - Hercules Technology Growth Capital Inc.'s $50 million two-year senior secured revolving credit facility carries pricing of Libor plus 325 basis points, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

The unused fee on the revolver is 50 bps, reducing to 30 bps after one year.

Wells Fargo Foothill acted as the arranger and administrative agent on the deal.

The revolver has a $250 million accordion feature and a one-year extension option.

The company said it plans to add additional lenders to expand the facility over the next 12 months.

Proceeds will be used to provide growth capital to privately held, venture capital and private equity sponsored technology and life science companies.

Hercules is a Palo Alto, Calif.-based specialty finance company.

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