Hamilton Lane obtains $75 million multi-draw loan, amends facilities

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – Hamilton Lane Inc. operating company Hamilton Lane Advisors, LLC got a $75 million multi-draw term loan and security agreement via First Republic Bank on Oct. 20, according to an 8-K filing with the Securities and Exchange Commission.

The term loan may be drawn any time during a period of three years following the closing date of the term loan agreement. Its amount is subject to a cap that limits the amount outstanding under all the company’s loan agreements to $325 million.

The facility is for working capital and general corporate purposes.

Borrowings accrue interest at a rate of 3%, and the term loan facility matures on Oct. 1, 2029.

Also on Oct. 20, the company amended its 2017 revolving agreement to provide for an extension of the maturity date to March 24, 2025 and an increase in the commitment amount of revolving loans to $50 million.

Finally, the company amended its 2017 term loan agreement to extend the maturity date to Jan. 1, 2030, increase the principal amount to $100 million and set the interest rate at 3%. The company remains entitled to request additional uncommitted term advances not to exceed $25 million in the aggregate through Dec. 31, 2023.

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

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