Medley Capital ups revolver to $137.5 million via Stamford First

By Toni Weeks

San Diego, Sept. 26 - Medley Capital Corp. announced it has increased its senior secured revolving credit facility to $137.5 million from $132.5 million by adding Stamford First Bank to the lending group.

Including Medley Capital's $55 million senior term debt, the company's current financing capacity is now $192.5 million, according to a press release. An accordion feature allows additional increases to up to maximum borrowings of $300 million.

Proceeds of the $5 million add-on will be used to expand the company's investment portfolio.

The company last increased its revolver to $132.5 from $125 million on Sept. 4, simultaneously reducing its pricing. It also obtained the $55 million term loan on the same date.

New York-based Medley Capital is a closed-end management investment company that invests in privately negotiated debt and equity securities of middle-market companies.

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