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Sierra Income Corp. Increases Credit Facility to $300MM

February 09, 2015, 07:32 AM
Filed Under: Investment Financing

Sierra Income Corporation announced the closing of an amendment to a revolving credit facility through Alpine Funding LLC, the company’s wholly-owned special purpose financing subsidiary. The closing of the amended facility results in an increase of Alpine’s leverage capacity from $150 million to $300 million.

“We are pleased with the increase in Sierra’s overall leverage capacity," said Seth Taube, Chief Executive Officer of the Company. “We intend to utilize the additional leverage as we continue to execute and expand our investment objective,” continued Taube.

Sierra is a non-traded Business Development Company (“BDC”) that invests primarily in first lien senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt of middle market companies in a broad range of industries with annual revenue between $50 million and $1 billion. The company’s investment objective is to generate current income, and to a lesser extent, long-term capital appreciation. Sierra’s investment activities are managed by its investment adviser, SIC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.

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