Sierra Income cuts revolving commitments, extends maturity to 2021

By Sarah Lizee

Olympia, Wash., July 31 – Sierra Income Corp. amended its senior secured revolving credit agreement with ING Capital LLC as administrative agent on July 25, reducing the size of the commitments to $215 million from $220 million, according to an 8-K filing with the Securities and Exchange Commission.

The termination date was extended to March 31, 2020 from Aug. 12, 2019 and the maturity date was extended to March 31, 2021 from Aug. 12, 2020.

The facility was undrawn at amendment close.

Sierra Income is a non-diversified, closed-end management company based in New York that invests 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.

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