TriplePoint ups revolver to $210 million, reduces pricing, extends

By Sarah Lizee

Olympia, Wash., Jan. 26 – TriplePoint Venture Growth BDC Corp. amended and renewed its revolving credit facility to increase the total credit capacity to $210 million, according to a press release.

The revolving period was extended to Feb. 21, 2020 from Feb. 21, 2018, and the maturity date to Aug. 21, 2021 from Feb. 21, 2019.

In addition, the credit facility includes a reduction in the undrawn rate to 50 basis points from 75 bps and a reduction in the applicable margin during the revolving period to 280 bps if facility utilization is greater than or equal to 75%, 290 bps if utilization is greater than or equal to 50%, and 300 bps if utilization is less than 50%.

Deutsche Bank AG, New York Branch is the administrative agent and lender together with existing lenders KeyBank NA, EverBank Commercial Lender Finance, Inc. and new lender MUFG Union Bank, NA.

TriplePoint is an externally managed, closed-end, non-diversified management investment company based in Menlo Park, Calif.

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