Corporate Capital subsidiary arranges for $100 million tranche F loan

By Angela McDaniels

Tacoma, Wash., Sept. 16 – Corporate Capital Trust, Inc. subsidiary CCT Funding LLC amended its credit agreement on Friday to provide for up to an additional $100 million of borrowings on a commitment basis (tranche F commitment), according to an 8-K filing with the Securities and Exchange Commission.

All borrowings that exceed the credit agreement’s first $150 million tranche E commitment will be made under the tranche F commitment, which will bear interest at Libor plus 195 basis points and will mature on Sept. 11, 2017.

Fees associated with the amended credit agreement include an administrative agent’s fee equal to 0.015% per year, payable monthly in arrears on the amount of the average outstanding commitments for that month; an annual fee of 50 bps on any unused commitment amounts; and an additional annual fee of 1.95% of the excess, if any, of 80% of the commitments less the principal amount of outstanding borrowings.

Deutsche Bank AG, New York Branch is the administrative agent.

Corporate Capital Trust is an Orlando, Fla.-based business development company that invests in privately owned American companies.

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