Triangle Capital ups credit facility to $435 million, extends maturity

By Marisa Wong

Morgantown, W.Va., May 3 – Triangle Capital Corp. amended its third amended and restated credit facility to increase current commitments under the facility to $435 million from $300 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also provides for an accordion feature that allows commitments to be increased to up to $550 million and extends the maturity of the facility by two years.

The revolving period of the credit agreement ends April 30, 2021, followed by a one-year amortization period with a final maturity date of April 30, 2022.

Pricing and key financial covenants remain unchanged.

Branch Banking and Trust Co. is administrative agent under the facility, with ING Capital LLC as multicurrency agent and BB&T, ING, Fifth Third Bank, Morgan Stanley Bank, NA, Bank of North Carolina, EverBank Commercial Finance, Inc., First Tennessee Bank NA, First National Bank of Pennsylvania, Capital Bank Corp., Park Sterling Bank, Paragon Commercial Bank, Raymond James Bank, NA and Stifel Bank & Trust as lenders.

The specialty finance company is based in Raleigh, N.C.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.