Hennessy Advisors amends term loan agreement, extends to 2020

By Sarah Lizee

Olympia, Wash., Sept. 21 – Hennessy Advisors, Inc. entered into a fourth amendment to its term loan agreement on Thursday to extend the maturity date of the loan to Sept. 17, 2020 from Sept. 17, 2019, according to an 8-K filing with the Securities and Exchange Commission.

U.S. Bank NA is the administrative agent and a lender with California Bank & Trust.

The amendment also provided the agent’s authorization for the company to complete the acquisition of the assets related to the management of the BP Capital TwinLine Energy Fund and the BP Capital TwinLine MLP Fund.

Also, representations and covenants relating to the recently effective customer due diligence requirements for financial institutions and representations regarding matters relating to the Employee Retirement Income Security Act of 1974 were added, the filing noted.

Hennessy Advisors, Inc. is an investment manager based in Novato, Calif.

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