Hamilton Lane gets $75 million multi-draw loan, amends facilities

By Sarah Lizee

Olympia, Wash., March 25 – Hamilton Lane Inc. operating company Hamilton Lane Advisors, LLC got a $75 million multi-draw term loan and security agreement via First Republic Bank on Tuesday, according to an 8-K filing with the Securities and Exchange Commission.

The term loan may be drawn any time during a period of one year following the closing date of the term loan agreement.

The facility is for working capital and general corporate purposes.

Borrowings accrue interest at a rate of 4% and the term loan facility matures on July 1, 2030.

Also on Tuesday, the companies amended the original term loan agreement and revolving loan agreement to include an incremental term advance of about $9.3 million on the closing date of the amendment, bringing the outstanding amount back to about $75 million.

The amendment also provides for additional uncommitted term advances not to exceed $25 million in the aggregate for a period of three years from the closing date of the amendment subject to, among other things, the approval of the lender.

It also extends the amortization date to July 1 and the maturity date to July 1, 2027.

The amendment changed the interest rate to a floating per annum rate equal to the greater of the Prime rate minus 150 basis points and 2.25%.

The revolving loan agreement’s maturity date was amended to March 24, 2023, provided that the company may request a year-long extension subject to some conditions.

Hamilton Lane Advisors is a financial institution that provides discretionary and non-discretionary private equity asset management services.

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