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Sierra Income Increases ING-Led Credit Facility to $170MM

February 17, 2015, 07:08 AM
Filed Under: Investment Financing

Sierra Income Corporation announced the closing of an additional $20 million of commitments to its senior secured revolving credit facility (the "Credit Facility"). The Credit Facility was arranged and led by ING Capital LLC. One additional lender joined the lending group and committed the $20 million to the Credit Facility. Total commitments to the Credit Facility are $170 million and the Credit Facility provides for an aggregate accordion feature up to an aggregate maximum amount of $500 million.

“We are pleased to increase the commitments to our Credit facility through the expansion of our lender group," said Seth Taube, Chief Executive Officer of the Company. “We intend to utilize the additional lending commitment to continue to grow our investment portfolio and we look forward to working with the lender group as we expand our business in the years ahead,” 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.

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