WhiteHorse lifts credit facility to $250 million, extends to 2024

By Wendy Van Sickle

Columbus, Ohio, Nov. 27 – WhiteHorse Finance, Inc.’s wholly owned subsidiary WhiteHorse Finance Credit I, LLC amended and restated its credit facility with JPMorgan Chase Bank, NA as administrative agent on Nov. 22 to provide for a five-year $250 million credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The maturity date is now Nov. 22, 2024, extended from Dec. 29, 2021 prior to the amendment.

The facility size was increased from $200 million.

There is a $100 million accordion feature exercisable in minimum increments of $35 million.

Additionally, the interest rate spread above Libor was reduced by 25 basis points to 250 bps; the minimum borrowing amount was reduced to 70% from 77.5% of the commitment; the advance rate was increased to 60% from 57%; and the non-call period was extended to Nov. 22, 2021 from Oct. 29, 2019.

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

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