FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

Amegy Bank Leads Syndicate in Amending Stellus Capital’s Revolving Credit Facility

Date: Sep 21, 2020 @ 09:05 AM
Filed Under: Industry News

Stellus Capital Investment Corporation  announced  that on September 18, 2020 it entered into an amendment and extension of its $230 million Senior Secured Revolving Credit Agreement (the "Facility"). The Company extended the commitment termination date of the Facility to September 18, 2024 with a final maturity of September 18, 2025, and amended certain covenants and conditions of the Facility, including a reduction in the required asset coverage.  The Facility was led by Zions Bancorporation, N.A. dba Amegy Bank, and includes a total of 10 bank participants. Pricing and advance rates remain unchanged on the Facility, except for the addition of a LIBOR floor of 0.25%.

"We are pleased to report the amendment and extension of our $230 million bank credit facility to September of 2025. We appreciate the support of our bank group, led by Amegy Bank, throughout the COVID-19 period and in obtaining this long-term extension," said Robert T. Ladd, Chief Executive Officer of Stellus Capital Investment Corporation.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.