Runway Growth Finance amends 2022 credit agreement

By Wendy Van Sickle

Columbus, Ohio, Jan. 9 – Runway Growth Finance Corp. entered into an amendment to its amended and restated credit agreement dated as of April 20, 2022 with KeyBank NA as administrative agent on Jan. 4, according to an 8-K filing with the Securities and Exchange Commission.

The amendment revises the liquidity covenant to incorporate coverage for delayed-draw term loans within the company’s pledged loan portfolio; adds a swingline sub-commitment within the KeyBank commitment to accommodate the potential for delayed fundings of lender advances; and changes the requirements for future facility amount increases under the accordion provisions of the credit agreement.

Each of the amendments was effective as of Jan. 4, except for the revision to the liquidity covenant, which was effective as of Dec. 31.

CIBC Bank USA is documentation agent. MUFG Bank, Ltd. is co-documentation agent, and U.S. Bank Trust Co. NA is collateral custodian and paying agent.

Runway is a specialty finance company focused on providing senior secured loans to high-growth-potential companies in technology, life sciences, health care information and services, business services, select consumer services and products and other high-growth industries. The closed-end management investment company is based in Chicago.

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