debt
confidence high
sentiment positive
materiality 0.50
Portman Ridge amends revolver: SOFR replaces LIBOR, margin down to 2.80%, maturity to 2026
BCP Investment Corp
- Amended senior secured revolving credit facility with JPMorgan; replaced LIBOR benchmark with Term SOFR.
- Lowered applicable margin on advances from 2.85% to 2.80% per annum.
- Extended reinvestment period to April 29, 2024 and final maturity to April 29, 2026.
- All other material terms of the credit facility remain unchanged.