Business Development obtains $60 million revolver via Deutsche Bank

By Toni Weeks

San Luis Obispo, Calif., Feb. 27 - Business Development Corp. of America entered into a $60 million senior secured revolving credit facility on Feb. 21, according to a press release.

Deutsche Bank AG, New York Branch is the lender and administrative agent for the facility.

Proceeds, along with cash on hand, will be used to finance the company's investment activities and for general corporate purposes.

The New York company was established to provide capital primarily in the form of senior secured loans to middle-market enterprises. It invests in both the debt and equity of private middle-market companies.

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