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ING Capital, Medley Capital Increase Credit Facility to $365MM

September 27, 2013, 07:14 AM
Filed Under: Lender Finance

Medley Capital Corporation announced the closing of an additional $20 million of commitments to its senior secured revolving and term loan credit facilities. Total commitments to the credit facility are $365 million, comprised of $245 million committed to the revolving credit facility and $120 million committed to the term loan facility. The credit facility provides for an aggregate accordion feature permitting subsequent increases to the credit facility up to an aggregate maximum amount of $400 million and was arranged and led by ING Capital LLC.

Medley Capital 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. The Ccompany's investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies. The Company is a direct lender targeting private debt transactions ranging in size from $10 million to $50 million to borrowers principally located in North America.

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