Hercules Technology amends credit facility to trim Libor floor, extend maturity

By Sara Rosenberg

New York, Aug. 2 - Hercules Technology Growth Capital Inc. amended its credit facility, reducing the Libor floor to 4.25% from 5% and extending the maturity by one year to August 2015, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

Pricing on the loan was left unchanged at Libor plus 350 basis points.

Also under the amendment, an amortization period of 12 months was added to pay down the principal balance as of the maturity date, and the unused fee was lowered to 0 bps to 50 bps from 0 bps to 75 bps.

Furthermore, the amendment increased the minimum tangible net worth requirement.

Wells Fargo Capital Finance LLC is the lead bank on the deal.

The amendment was completed on Aug. 1.

Hercules Technology is a Palo Alto, Calif.-based private equity, venture capital and venture debt firm.

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