TriplePoint Venture Growth BDC Corp. Announces Expansion of its Revolving Credit Facility
January 29 2021 - 4:15PM
Business Wire
FACILITY INCREASED TO $350 MILLION
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the
“Company,” "TPVG," “we,” “us,” or “our”), the leading financing
provider to venture growth stage companies backed by a select group
of venture capital firms in the technology and other high growth
industries, today announced it has expanded its revolving credit
facility (“Credit Facility”). The expansion increases the capacity
of the Credit Facility from $325 million to $350 million and adds a
new lender, First Foundation Bank. The $25 million increase was
made under the accordion feature in the Credit Facility, which
allows the Company, under certain circumstances, to increase the
size of the Credit Facility to up to $400 million.
“We are pleased to announce another expansion of our revolving
credit facility,” said Christopher M. Mathieu, Chief Financial
Officer of TPVG. “We appreciate the continued support and
partnership with our leading and expanded banking group.”
Borrowings under the Credit Facility are subject to various
covenants including the leverage restrictions contained in the
Investment Company Act of 1940, as amended, provided that the
Company’s asset coverage ratio under the Credit Facility shall not
be less than 150%.
ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.
The Company was formed to expand 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 lending primarily 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.
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute “forward-looking
statements,” which relate to future events or our future
performance or financial condition. These statements are not
guarantees of future events, performance, condition or results and
involve a number of risks and uncertainties. Actual results and
conditions 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 SEC.
You should not place undue reliance on these forward-looking
statements. The Company undertakes no duty to update any
forward-looking statements made herein, whether as a result of new
information, future events or otherwise, except as may be required
by law.
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INVESTOR RELATIONS AND MEDIA CONTACT The IGB Group Leon
Berman 212-477-8438 lberman@igbir.com
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