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Kayne Anderson increases revolver to $600 million, cuts interest rate
By Mary-Katherine Stinson
Lexington, Ky., April 8 – Kayne Anderson BDC, Inc. and Kayne Anderson BDC Financing, LLC amended their senior secured revolving funding facility on April 3, according to an 8-K filing with the Securities and Exchange Commission.
Specifically, the amendment increased the commitment amount of the revolver to $600 million from $455 million.
The end of the reinvestment period was extended to April 2, 2027 and the maturity date was extended to April 3, 2029.
The interest rate of the revolver was reduced to a range of SOFR plus 237.5 basis points to 250 bps from SOFR plus 275 bps, depending on the mix of loans securing the revolver.
Wells Fargo Bank, NA is the administrative agent with Wilmington Trust, NA as the collateral agent and the custodian.
KA Credit Advisors, LLC is the collateral manager.
Kayne Anderson BDC was formed to make investments in middle-market companies and is based in Houston.
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