MENLO PARK, Calif.--(BUSINESS WIRE)--
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) (the “Company”), the
leading financing provider to venture growth stage companies backed by a
select group of venture capital firms in the technology, life sciences
and other high growth industries, today announced it has renewed its
existing $200 million revolving credit facility (“Credit Facility”). In
addition to extending the revolving period of the Credit Facility from
February 21, 2016 to February 21, 2018 and the maturity date of the
Credit Facility from February 21, 2017 to February 21, 2019, the renewal
also included reducing the applicable margin above the base rates
specified in the Credit Facility during the revolving period from 3.50%
to 3.00%. Deutsche Bank AG, New York Branch serves as administrative
agent and as a lender together with KeyBank National Association,
EverBank Commercial Lender Finance, Inc., and AloStar Bank of Commerce.
“We appreciate the continued support of our lenders. This renewal adds
to our financial strength and flexibility and will help us take
advantage of the attractive opportunities we are seeing in the venture
lending market,” said Harold Zagunis, chief financial officer of the
Company. “In addition, the reduced interest rate, combined with the lack
of a LIBOR floor provision, will further benefit our shareholders as it
reduces our cost of debt capital.”
About TriplePoint Venture Growth BDC Corp.
The Company, the leading financing provider to venture growth stage
companies backed by a select group of venture capital firms in the
technology, life sciences and other high growth industries, is an
externally managed, closed-end, non-diversified management investment
company that has elected to be regulated as a business development
company under the Investment Company Act of 1940, as amended. It was
formed to expand the venture growth stage business segment of
TriplePoint Capital LLC. The Company’s investment objective is to
maximize its total return to stockholders primarily in the form of
current income and, to a lesser extent, capital appreciation by
primarily lending with warrants to venture growth stage companies
focused in technology, life sciences and other high growth industries
backed by a select group of leading venture capital investors. More
information is available at http://www.tpvg.com.
Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements. Forward-looking statements are not
guarantees of future performance, condition or results and involve a
number of substantial risks and uncertainties, many of which are
difficult to predict and are generally beyond the Company's control.
Words such as "anticipates," "expects," "intends," "plans," "will,"
"may," "continue," "believes," "seeks," "estimates," "would," "could,"
"should," "targets," "projects," and variations of these words and
similar expressions are intended to identify forward-looking statements.
Actual results may differ materially from those in the forward-looking
statements as a result of a number of factors, including those described
from time to time in the Company’s filings with the Securities and
Exchange Commission. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be required
by law.
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Source: TriplePoint Venture Growth BDC Corp.