debt
confidence high
sentiment positive
materiality 0.45
Great Elm upsizes revolver to $50M, cuts rate to SOFR+2.50%
Great Elm Capital Corp.
- Revolving facility increased from $25M to $50M, with option to raise to $90M.
- Interest rate reduced to SOFR+2.50% from SOFR+3.00%.
- Maturity extended to earlier of May 5, 2027 or May 31, 2026 if 5.875% notes not refinanced.
- Minimum net assets covenant set at $80M.
- CEO cites growing capital base and enhanced flexibility to fund risk-adjusted returns.