TriplePoint Venture Growth BDC Corp. Announces Expansion of its Revolving Credit Facility
August 27 2019 - 4:15PM
Business Wire
Facility Increased to $300 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, life sciences 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 $265 million to
$300 million and adds new lenders Hitachi Capital America
Corporation and NBH Bank. The $35 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.
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. 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. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect management’s
opinions only as of the date hereof. 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: https://www.businesswire.com/news/home/20190827005659/en/
INVESTOR RELATIONS AND MEDIA CONTACT Abernathy MacGregor
Group Alan Oshiki / Sheila Ennis 212-371-5999 / 415-745-3294
aho@abmac.com / sbe@abmac.com
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