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

September 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.





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