NGP Capital gets $180 million credit facility

By Sara Rosenberg

New York, Sept. 6 - NGP Capital Resources Co. closed on a new $180 million three-year credit facility, according to a company news release.

SunTrust Capital Markets, Inc. acted as lead arranger and bookrunner on the deal, Raymond James Bank, FSB acted as documentation agent and Branch Bank & Trust Co. acted as syndication agent.

The facility consists of an $80 million investment revolver facility with an interest rate that can range from Libor plus 125 to 225 basis points based on outstanding borrowings and a $100 million senior treasury secured revolver with an interest rate of Libor plus 25 bps.

Proceeds from the investment facility will be used to supplement the company's equity capital in making portfolio investments.

Proceeds from the treasury facility will be used to facilitate the growth of the company's investment portfolio and provide flexibility in the sizing of its portfolio investments.

The credit facility has a $95 million accordion feature.

NGP is a Houston-based non-diversified, closed-end management investment company

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.