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BlackRock Capital Allocation Trust Enters Credit Facility with BNP Paribas Prime Brokerage

August 09, 2021, 05:57 AM
Filed Under: Private Equity News

BlackRock Capital Allocation Trust announced that the Trust has entered into a 179-day rolling line of credit facility with BNP Paribas Prime Brokerage International, Limited. BNP is required to provide 179 days’ notice of termination to the Trust absent a default or certain similar events.

The Trust has granted a security interest in substantially all of its assets to BNP. The Trust can borrow up to $550,000,000 at any time, subject to asset coverage and other limitations as specified in the Credit Facility. Advances will be made by BNP to the Trust at the Overnight Bank Funding Rate plus 0.75%. In addition, the Trust pays a commitment fee on the daily unused amount if utilization is less than 80% of the committed line amount.

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