TriplePoint Venture Growth BDC Corp. announced an amendment to its revolving credit facility extending the revolving period to November 30, 2027 and the scheduled maturity date to May 30, 2029.
The amendment provides improved terms including a reduced spread on borrowings and higher advance rates on assets pledged to the borrowing base.
The Company currently has $300 million in total commitments available under the Credit Facility with an accordion feature allowing an increase to $400 million under certain circumstances.
Extension of Revolving Period
The revolving period of the Credit Facility has been extended to November 30, 2027, providing the Company with an extended timeframe for utilizing the facility.
Improved Terms
The amendment offers improved terms, such as reduced spread on borrowings and higher advance rates on assets, enhancing the financial flexibility of TPVG.
Total Commitments
The Company currently has $300 million in total commitments available under the Credit Facility, with the potential to increase to $400 million under specific conditions.
- The amended credit facility with favorable terms reflects the confidence of banking partners in TPVG's long-term strategy.
- Enhanced financial flexibility during a period of strong demand from high-quality venture growth stage companies across various sectors, including AI and software.
The amendment to the Credit Facility under favorable terms is a positive development for TriplePoint Venture Growth BDC Corp., bolstering its financial position and flexibility for future growth opportunities.