TCW Direct Lending borrowing commitment increases

By Rebecca Melvin

New York, March 20 – TCW DL VII Financing LLC and TCW Direct Lending VVI LLC have entered into an amended and restated credit and security agreement, which will, among other things, increase the total commitments under the facility to $795 million from $600 million, according to an 8-K filed Friday with the Securities and Exchange Commission.

The agreement was inked March 17 between the borrower and PNC Bank NA as facility agent and State Street Bank and Trust Co. as collateral agent. Additional commitments are being provided by State Street Bank, KeyBank, Sterling NA and Atlantic Union Bank. Natixis, New York Branch is the lead arranger, bookrunner, syndication agent and administrative agent.

The maximum commitment can be increased by the borrower periodically to up to an aggregate principal amount of $900 million.

The facility, which matures Jan. 29, 2024, will bear interest at Libor plus 230 basis points.

TCW is a Los Angeles-based lender that targets middle-market companies.

© 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.