HCXY - Hercules Capital gets new $100M multi-currency credit facility

Hercules Capital (NYSE:HTGC) (NYSE:HCXY) enters into a new $100M multi-currency credit facility with Sumitomo Mitsui Banking Corporation. The new credit facility also includes an uncommitted accordion feature expandable up to $150M. The interest rate applicable to borrowings under the new credit facility is LIBOR plus 1.875% and the advance rate under the new credit facility is a maximum of 75% against eligible loans. The new credit facility matures in November 2026, including a 12-month amortization period. “With the announcement of our recent 5-year 2.625% investment grade bond offering totaling $325.0 million and our new credit facility with SMBC, we continue to reduce our cost of capital while improving operational flexibility. This new credit facility is multi-currency, with improved pricing and flexibility and longer maturity. We thank SMBC for their support of our industry-leading franchise.” said Seth Meyer, CFO.

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Hercules Capital gets new $100M multi-currency credit facility