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 amended and
renewed its revolving credit facility (“Credit Facility”). Deutsche Bank
AG, New York Branch serves as administrative agent and as a lender
together with existing lenders KeyBank National Association and EverBank
Commercial Lender Finance, Inc., and new lender MUFG Union Bank, N.A.,
under the Credit Facility.
The amendment and renewal, among other things, increased the total
credit capacity to $210 million and extended the revolving period from
February 21, 2018 to February 21, 2020 and the maturity date from
February 21, 2019 to August 21, 2021. In addition, the Credit Facility
includes a reduction in the undrawn rate from 0.75% to 0.50% and a
reduction in the applicable margin during the revolving period to 2.80%
if facility utilization is greater than or equal to 75%, 2.90% if
utilization is greater than or equal to 50%, and 3.00% if utilization is
less than 50%. Borrowings under the Credit Facility are subject to its
various covenants and the leverage restrictions contained in the
Investment Company Act of 1940, as amended.
About TriplePoint Venture Growth BDC Corp.
The Company serves as the primary financing source for the venture
growth stage business segment of TriplePoint Capital LLC, the leading
global provider of financing across all stages of development to
technology, life sciences and other high growth companies backed by a
select group of venture capital firms. 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.
The Company 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. 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.