Goldman Sachs exercises accordion, expands revolver to $560 million

By Marisa Wong

Madison, Wis., April 2 – Goldman Sachs BDC, Inc. entered into an agreement with CIT Finance LLC on March 27 to increase the aggregate commitments under its senior secured revolving credit facility to $560 million from $535 million, according to an 8-K filing with the Securities and Exchange Commission.

CIT agreed to provide a $25 million commitment through the revolver’s accordion feature.

The facility continues to include the accordion feature, which would allow Goldman Sachs to further increase the size of the facility to a maximum of $900 million.

There were no other amendments to the terms of the revolver, the filing noted.

The New York-based closed-end management investment company was formed by Goldman Sachs Group, Inc. to invest primarily in middle-market companies in the United States.

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