Hercules Technology amends loan, increasing size by $25 million

By Sara Rosenberg

New York, March 8 - Hercules Technology Growth Capital Inc. amended its credit facility, increasing the size to $125 million from $100 million, according to a company news release.

In addition, the amendment provides for a short-term increase in the advance rate to 60% of eligible loans, up from 55%.

Lastly, the amendment provides for an interest rate of Libor plus 250 basis points on amounts borrowed in excess of $100 million and an interest rate of Libor plus 500 bps for amounts borrowed in excess of 55% of eligible loans.

Citigroup Global Markets Realty group is the lead on the deal.

Hercules Technology is a Palo Alto, Calif.-based specialty finance company providing debt and equity growth capital to technology-related companies.

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