debt
confidence high
sentiment neutral
materiality 0.60
Terra Property Trust amends credit facility with Western Alliance Bank, extends maturity to December 31, 2024
Terra Property Trust, Inc.
- Extended the revolving credit facility maturity date to December 31, 2024 under the Sixth Amendment.
- Eliminated the ability to make additional revolving borrowings under the facility agreement.
- Decreased the minimum net worth covenant and introduced a minimum liquidity covenant for the Company.
- Established an interest reserve account and removed minimum profitability and maximum global leverage covenants.