TriplePoint Venture Growth BDC Corp. Announces Renewal of its Revolving Credit Facility
January 26 2018 - 6:45AM
Business Wire
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the
“Company”), the leading financing provider to venture growth stage
companies backed by a select group of venture capital firms in the
technology, life sciences and other high growth industries, today
announced it has amended and renewed its revolving credit facility
(“Credit Facility”). Deutsche Bank AG, New York Branch serves as
administrative agent and as a lender together with existing lenders
KeyBank National Association and EverBank Commercial Lender
Finance, Inc., and new lender MUFG Union Bank, N.A., under the
Credit Facility.
The amendment and renewal, among other things, increased the
total credit capacity to $210 million and extended the revolving
period from February 21, 2018 to February 21, 2020 and
the maturity date from February 21, 2019 to August 21, 2021.
In addition, the Credit Facility includes a reduction in the
undrawn rate from 0.75% to 0.50% and a reduction in the applicable
margin during the revolving period to 2.80% if facility utilization
is greater than or equal to 75%, 2.90% if utilization is greater
than or equal to 50%, and 3.00% if utilization is less than 50%.
Borrowings under the Credit Facility are subject to its various
covenants and the leverage restrictions contained in the Investment
Company Act of 1940, as amended.
About TriplePoint Venture Growth BDC Corp.
The Company serves as the primary financing source for the
venture growth stage business segment of TriplePoint Capital
LLC, the leading global provider of financing across all stages of
development to technology, life sciences and other high growth
companies backed by a select group of venture capital
firms. The Company’s investment objective is to maximize its
total return to stockholders primarily in the form of current
income and, to a lesser extent, capital appreciation by primarily
lending with warrants to venture growth stage companies. The
Company is an externally managed, closed-end, non-diversified
management investment company that has elected to be regulated as a
business development company under the Investment Company Act of
1940, as amended. More information is available
at http://www.tpvg.com.
Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements. Forward-looking statements are not
guarantees of future performance, condition or results and involve
a number of substantial risks and uncertainties, many of which are
difficult to predict and are generally beyond the Company's
control. Words such as "anticipates," "expects," "intends,"
"plans," "will," "may," "continue," "believes," "seeks,"
"estimates," "would," "could," "should," "targets," "projects," and
variations of these words and similar expressions are intended to
identify forward-looking statements. Actual results may differ
materially from those in the forward-looking statements as a result
of a number of factors, including those described from time to time
in the Company’s filings with the Securities and Exchange
Commission. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be
required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20180126005140/en/
Investor Relations and Media ContactAbernathy MacGregor
GroupAlan Oshiki, 212-371-5999aho@abmac.comSheila Ennis,
415-745-3294sbe@abmac.com
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