Hamilton Lane obtains $75 million term loan, $25 million revolver

By Wendy Van Sickle

Columbus, Ohio, Aug. 25 – Hamilton Lane Advisors LLC entered into a $75 million term loan agreement and a $25 million revolving credit facility with First Republic Bank on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

The term loan agreement has a $25 million accordion feature. It accrues interest at the greater of the prime rate that appears in the Wall Street Journal minus 125 basis points and 275 bps.

The term loan matures on Nov. 1, 2024.

The revolver accrues interest at the greater of the prime rate that appears in the Wall Street Journal minus 150 bps points and 250 bps. It matures on Aug. 21, 2020, and has some conditions that must be satisfied prior to any borrowing.

Hamilton Lane granted a security interest in substantially all of its personal property assets, aside from some excluded assets, under the loan agreements.

The term loan will be used to refinance existing debt. The revolver will be used for working capital and general corporate purposes.

In connection with the new loan agreements, Hamilton Lane repaid and terminated its credit and guaranty agreement dated July 9, 2015 with Morgan Stanley Senior Funding, Inc. as administrative agent.

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

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