THL Credit Amends and Extends Credit Facility
December 19 2017 - 4:05PM
THL Credit, Inc. (NASDAQ:TCRD) (“THL Credit” or the “Company”), a
direct lender to lower middle market companies, today announced an
amendment and extension of its revolving credit facility
(“Revolving Facility”) with ING Capital LLC, as agent. The
Revolving Facility’s availability period was extended from August
2019 to December 2021, followed by a one-year amortization period
with a final maturity in December 2022. Commitments under the
Revolving Facility have also been reduced to $275.0 million from
$303.5 million, and the Company’s existing $75 million Term Loan
Facility has been refinanced into the Revolving Credit Facility.
The pricing on the Revolving Facility will
remain the same at LIBOR (with no floor) plus 2.50 percent. The
Term Loan Facility was previously priced at LIBOR (with no floor)
plus 2.75 percent.
“We are very pleased to announce this amendment
and to continue our long term relationship with our lenders,” said
Terry Olson, Chief Financial Officer and Chief Operating Officer of
THL Credit. “We are continually looking for opportunities to
lower our cost of capital. Refinancing and reducing our loan
facility reduces our borrowing costs and helps drive shareholder
value.”
About THL Credit, Inc.
THL Credit, Inc. (NASDAQ:TCRD) is a closed-end
investment company that has elected to be treated as a business
development company under the Investment Company Act of 1940. The
Company’s investment objective is to generate both current income
and capital appreciation, primarily through directly originated
first lien secured loans, including unitranche investments. In
certain instances, the Company also makes second lien,
subordinated, or mezzanine debt investments, which may include an
associated equity component such as warrants, preferred stock or
other similar securities and direct equity co-investments. The
Company targets investments primarily in lower middle market
companies with annual EBITDA generally between $5 million and $25
million that require capital for growth and acquisitions. The
Company is headquartered in Boston, with additional investment
teams in Chicago, Dallas, Los Angeles and New York. The Company’s
investment activities are managed by THL Credit Advisors LLC, an
investment adviser registered under the Investment Advisers Act of
1940. For more information, please visit www.THLCreditBDC.com.
About ING Capital LLC
ING Capital LLC is a financial services firm
offering a full array of wholesale financial lending products and
advisory services to its corporate and institutional clients. ING
Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of
ING Group (NYSE:ING), a global financial institution of Dutch
origin. The purpose of ING Bank is empowering people to stay a step
ahead in life and in business. The Investment Industry Finance
(IIF) group at ING Capital LLC offers a broad range of structured
finance solutions to its clients active in the investment industry,
including Business Development Companies.
Forward-Looking Statements
Statements made in this press release may
constitute forward-looking statements. Such statements reflect
various assumptions by the Company concerning anticipated results
and are not guarantees of future performance. The accuracy of such
statements involves known and unknown risks, uncertainties and
other factors that, in some ways, are beyond management’s control,
including the factors described from time to time in filings by the
Company with the Securities and Exchange Commission. The Company
undertakes no duty to update any forward-looking statements made
herein. All forward-looking statements speak only as of the date of
this press release.
Investor Contact:THL Credit, Inc. Lauren Vieira
617-790-6070
Media Contact:Stanton Public Relations and
Marketing, LLCDoug Allen646-502-3530DAllen@StantonPRM.com
ING Groep NV (NYSE:ING)
Historical Stock Chart
From Aug 2024 to Sep 2024
ING Groep NV (NYSE:ING)
Historical Stock Chart
From Sep 2023 to Sep 2024