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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
JPMorgan Chase Agents Revolver Extension, Upsize for Apollo Investment
Wednesday, November 21, 2018
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Lenders/Participants
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JPMorgan Chase Bank [Administrative Agent]
GACP Finance Co., LLC [Administrative Agent]
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Structure
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Senior Secured Revolver Amendment, Upsize
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Amount
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$1.590
Billion
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Borrower(s)
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Apollo Investment Corporation
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Description
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Company has amended, extended and upsized its senior secured revolving credit facility (the “Senior Secured Facility”). The amendment reduces the Company’s minimum asset coverage financial covenant from 200% to 150% and includes certain related changes to the borrowing base calculation. This amendment follows the passage of the Small Business Credit Availability Act (“SBCA Act”) in March 2018 and the Company’s Board of Directors’ adoption of the reduction in the asset coverage requirement in April 2018 which will become effective on April 4, 2019. There was no change in the borrowing cost in connection with the amendment. Lender commitments to the Senior Secured Facility increased by $400 million from $1.19 billion to $1.59 billion. In addition, the final maturity date of the Senior Secured Facility was extended by approximately 2 years from December 21, 2021 to November 19, 2023.
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Industry
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Investment Financing
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| Related Tags |
JPMorgan Chase Bank
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ABL Advisor
Deal Tables
2025
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