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Corporate Capital Trust Expands Credit Facility to $655MM

December 02, 2014, 07:18 AM
Filed Under: Investment Financing

Corporate Capital Trust, a business development company that offers individuals the opportunity to invest in the debt of privately owned American companies, has increased its lending capacity through its senior secured revolving credit facility from $490 million to $655 million.

J.P. Morgan Securities and ING Capital served as the joint lead arrangers of the facility and 17 financial institutions currently participate in the lender syndicate. This credit facility was initiated in September 2013 with $285 million in commitments. The facility is expandable to a maximum of $900 million and matures in September 2017.

"We are pleased to be able to expand our credit facility for the third time in 16 months and are pleased with the breadth of lenders participating. We see investment opportunities arising from recent market volatility, and the expansion will provide more capital to capture those opportunities," said Steve Shackelford, president and chief financial officer of Corporate Capital Trust.

Corporate Capital Trust is an innovative non-traded business development company that provides individuals an opportunity to invest in privately owned American companies. The company is externally managed by CNL and KKR and its investment objective is to provide shareholders with current income, and, to a lesser extent, long-term capital appreciation.

CNL Financial Group (CNL) is a leading private investment management firm providing global real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $29 billion in assets. CNL is headquartered in Orlando, Florida.

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.

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