FS Investment unit amends credit facility, extends to 2021

By Sarah Lizee

Olympia, Wash., Oct. 15 – FS Investment Corp. II wholly owned subsidiary Juniata River LLC amended its credit agreement on Friday to extend the maturity to Oct. 11, 2021, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is the administrative agent.

The amendment also extends the reinvestment period of the facility to Oct. 12, 2020 and requires mandatory repayment of any advances outstanding in excess of $550 million on that date.

Also, the amendment decreases the margin payable on borrowings to 245 basis points over Libor.

The amendment also increases the advance rate used to determine borrowing base compliance to 60% and reduces the required minimum use of the facility to $440 million.

FS Investment is a business development company based in Philadelphia.

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