FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Medley Capital Amends ING Led Facility, Adds AloStar to Lending Group

April 02, 2013, 07:46 AM
Filed Under: Industry News

Medley Capital Corporation amended its senior secured revolving and term loan credit facilities to increase the credit facility’s accordion feature from $300 million to $400 million of total commitments. In addition, the company closed an additional $14 million of commitments to the credit facility from AloStar Business Credit. The aggregate commitments to the revolving credit facility and to the term loan facility are now $209 million and $105 million, respectively. The credit facility was arranged and led by ING Capital LLC.

“We are pleased to add AloStar to our growing bank group," said Brook Taube, Chief executive officer of the company. "We intend to utilize the additional lending commitment to grow our investment portfolio and we look forward to working with our bank group as we expand our business in the years ahead," continued Taube.

The company is an externally-managed, non-diversified closed-end management investment company that has filed an election to be treated as a business development company under the Investment Company Act of 1940, as amended.

MCC Advisors LLC, an affiliate of Medley, is a registered investment adviser under the Investment Advisers Act of 1940, as amended. Medley specializes in credit investing, including direct private lending and corporate credit related strategies and provides first lien, second lien and unitranche term loans to lower middle-market and middle-market companies with an investment size between $7-50 million. Medley will support acquisition and growth financings, leveraged buyouts, management buyouts, bank debt restructurings, CAPEX, Chapter 11 exit financing and DIP financing. Medley is headquartered in New York with offices in San Francisco.

ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, which is part of the global financial services company ING Group.

Week's News

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.