AGTB Private BDC enters $75 million revolver due in 2023

By Wendy Van Sickle

Columbus, Ohio, June 16 – AGTB Private BDC entered into a $75 million revolving credit facility with Morgan Stanley Asset Funding Inc. as the administrative agent and lead arranger on June 10, according to an 8-K filing with the Securities and Exchange Commission.

The commitment amount may be increased to up to $200 million.

Borrowings are collateralized by the eligible unfunded capital commitments of investors in the company. The total amount available under may be reduced as a result of decreases in the unfunded capital commitments of investors in the company.

Borrowings bear interest at term SOFR plus 226.448 basis points for loans with an interest period of one month and term SOFR plus 241.161 bps for loans with an interest period of three months.

In addition, the company will pay an unused commitment fee of 25 bps from June 10 until June 30 and thereafter at 35 bps when the unused commitment of the lenders is greater than 50% of the maximum commitment or 25 bps otherwise.

The maturity date is June 12, 2023.

AGTB Private BDC is based in New York.

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