Hercules Capital announced that effective November 9, 2021, it has entered into a new $100.0 million multi-currency credit facility with Sumitomo Mitsui Banking Corporation (“SMBC”).

SMBC has committed a total of $100.0 million in credit capacity subject to borrowing base, leverage and other restrictions. The new credit facility also includes an uncommitted accordion feature expandable up to $150.0 million. The interest rate applicable to borrowings under the new credit facility is LIBOR plus 1.875% and the advance rate under the new credit facility is a maximum of 75% against eligible loans. The new credit facility matures in November 2026, including a 12-month amortization period.

“With the announcement of our recent 5-year 2.625% investment grade bond offering totaling $325.0 million and our new credit facility with SMBC, we continue to reduce our cost of capital while improving operational flexibility,” said Seth Meyer, chief financial officer of Hercules. “This new credit facility is multi-currency, with improved pricing and flexibility and longer maturity. We thank SMBC for their support of our industry-leading franchise.”