WhiteHorse Finance obtains $200 million secured revolver due 2019

By Marisa Wong

Morgantown, W.Va., Dec. 31 – WhiteHorse Finance, Inc. entered into a $200 million secured revolving credit facility on Dec. 23, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is administrative agent and lender.

The facility paid off and refinanced a secured revolver with Natixis, New York Branch as facility agent.

The new facility includes an accordion feature that allows the borrowing limit to be expanded up to $220 million.

The facility matures on Dec. 23, 2019.

Interest is equal to Libor plus 290 basis points.

The company is also required to pay a non-usage fee of 50 bps through Sept. 22, 2016, stepping up to 100 bps after that. The non-usage fee is waived through Sept. 22, 2016 when borrowings exceed $100 million.

Borrowings are subject to compliance with a net asset value coverage ratio.

WhiteHorse is a Miami-based business development company that originates and invests in loans to privately held small-cap companies.

© 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.