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SELECTED TRANSACTION DETAILS
City National Bank Enters $25MM Revolving Credit Facility with Great Elm Capital
Friday, May 7, 2021

Lenders/Participants City National Bank [Lender]
Structure Senior Secured Revolver
Amount $25.000 Million
Borrower(s) Great Elm Capital
Description The Loan Agreement provides for a senior secured revolving line of credit of up to $25 million (subject to a borrowing base as defined in the Loan Agreement). The Company may request to increase the revolving line in an aggregate amount not to exceed $25 million, which increase is subject to the sole discretion of CNB. The maturity date of the revolving line is the earlier of (i) May 5, 2024 and (ii) May 15, 2022 if the Company’s 6.50% notes due 2022 are not refinanced on or prior to such date. Borrowings under the revolving line bear interest at a rate equal to (i) the London Inter-bank Offered Rate plus 3.50%, (ii) a base rate plus 2.00% or (iii) a combination thereof, as determined by the Company.
Industry Lender Finance
Related Tags BDC, Business Develoment Company, City National Bank, Great Elm Capital Corp.




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