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Gladstone Increases Credit Facility to $105MM with Addition of Two New Lenders

June 18, 2013, 08:15 AM
Filed Under: Lender Finance

Gladstone Investment Corporation increased its borrowing capacity in its line of credit by $35 million to $105 million in aggregate with the addition of two new lenders.  Through Gladstone Investment's wholly-owned subsidiary, Gladstone Business Investment, LLC, the company is a party to a fifth amended and restated credit agreement, dated as of April 30, 2013, with Key Equipment Finance, Inc, as administrative agent, lead arranger and a lender and Branch Banking and Trust Company, as a lender and managing agent, originally providing for a 3-year $70 million credit facility. 

On June 12, 2013, the company increased its borrowing capacity under the credit agreement from $70 million to $105 million by adding two new lenders, Alostar Business Credit and Everbank Commercial Finance, Inc.  Subject to certain terms and conditions, the Credit Facility may further be expanded up to $200 million through the addition of other lenders to the facility.

Gladstone Investment Corporation is a publicly traded business development company that seeks to make debt and equity investments in small and mid-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations.

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