Trinity Capital ups facility to $200 million, replaces Libor with SOFR

By Marisa Wong

Los Angeles, April 19 – TrinCap Funding, LLC, a wholly owned special purpose subsidiary of Trinity Capital Inc., entered into a second amendment on April 13 to its credit agreement dated Oct. 27 to increase the initial commitment amount available for borrowing to $200 million from $75 million, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also permits the company to request an increased amount of commitments for a total of up to $400 million, subject to some provisions.

In addition, the amendment replaces Libor benchmark provisions with SOFR benchmark provisions such that borrowings will bear interest at adjusted term SOFR plus 325 basis points.

KeyBank, NA is administrative agent and syndication agent and Wells Fargo, NA is collateral custodian and paying agent.

Trinity Capital is a Phoenix-based specialty lending company.

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