Sierra Income’s Alpine Funding doubles credit facility to $300 million

By Toni Weeks

San Luis Obispo, Calif., Feb. 6 – Sierra Income Corp. entered into an amendment to its existing credit facility with Alpine Funding, increasing Alpine’s leverage capacity to $300 million from $150 million, according to a press release.

Alpine is the company’s wholly owned special purpose financing subsidiary.

“We intend to utilize the additional leverage as we continue to execute and expand our investment objective,” chief executive officer Seth Taube said in the release.

New York-based Sierra Income is a management investment company that seeks to generate current income with long-term capital appreciation as a secondary objective by investing in the debt of privately owned U.S. companies with a focus on senior secured debt, second-lien debt and, to a lesser extent, subordinated debt.

The company’s investment adviser, SIC Advisors, LLC, has offices in New York and San Francisco.

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