Gladstone Capital Announces Amendment to its Revolving Credit Facility Increases Commitment, Extends Maturity and Improves Pricing
- Extend the revolving period from
January 19, 2019to January 15, 2021;
- Extend the maturity date from
May 1, 2020to April 15, 2022, at which time all principal and interest will be due and payable;
- Reduce the interest rate margin by 40 basis points effective immediately to 2.85% for the balance of the revolving period (
January 15, 2021), after which the margin increases to 3.25% for the balance of the facility term;
- Change the unused commitment fee from 0.50% of the total unused commitment amount to 0.50% when the average unused commitment amount for the reporting period is less than or equal to 50%, 0.75% when the average unused commitment amount for the reporting period is greater than 50% but less than or equal to 65%, and 1.00% when the average unused commitment amount for the reporting period is greater than 65%; and
- Increase the current commitment amount from
$170 millionto $190 millionwith the ability to expand to a total facility amount of $265 millionthrough additional commitments of existing lenders.
Comments from Gladstone Capital Corporation's President,
Investor Relations Inquiries: Please visit www.gladstonecompanies.com or +1-703-287-5893.
The statements in this press release about future growth and shareholder returns are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on our current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in our filings with the
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