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


Zions Bancorp Leads Upsize for Stellus Capital

May 18, 2020, 09:15 AM
Filed Under: Industry News

Stellus Capital Investment Corporation announced that it has increased commitments under its revolving credit facility  to $230 million, extended the commitment termination date of the Facility to March 10, 2021, and amended certain covenants and conditions of the Facility, including a reduction in the required asset coverage and interest coverage ratios and a modification of the terms of the borrowing base. The final maturity of the Facility remains October 10, 2021.  The Facility was led by Zions Bancorporation, N.A. dba Amegy Bank, and includes a total of 10 bank participants. Pricing and advance rates remain unchanged on the Facility.

"We very much appreciate the support of our existing bank group, led by Amegy Bank, and are pleased to welcome Bank of Texas as an additional lender in the facility," said Robert T. Ladd, chief executive officer of Stellus Capital Investment Corporation.  "This amendment and extension allows us additional liquidity and flexibility to serve the capital needs of our portfolio companies." 

Comments From Our Members

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