Goldman Sachs Private Middle Market enters into $400 million revolver

By Tali Rackner

Minneapolis, Nov. 28 – Goldman Sachs Private Middle Market Credit LLC subsidiary Goldman Sachs Private Middle Market Credit SPV LLC (SPV) entered into a $400 million senior secured revolving credit facility on Nov. 21 with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The revolver is a multicurrency facility with borrowings available in U.S. dollars, Canadian dollars, British pounds sterling and euros.

The four-year facility includes a six-month extension option and an up to $350 million accordion feature.

Borrowings bear interest at Libor plus 350 basis points.

There is a 50 bps commitment fee for the first nine months, which increases to 100 bps thereafter.

Proceeds may be used to fund portfolio investments by SPV, make advances under delayed-draw term loans or revolving loans where SPV is a lender or make distributions to the company.

State Street Bank and Trust Co. served as collateral agent, collateral administrator, bank and securities intermediary on the deal.

The business development company is based in New York.

© 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.