Hercules Capital, Inc. (HTGC): debt financing — Hercules Capital enters new $100M SMBC LC facility; amends MUFG revolver reducing capacity to $400M

Hercules Capital, Inc.

Entered $100M letter of credit facility with Sumitomo Mitsui Banking Corp., maturing Jan 13, 2026; proceeds support unfunded portfolio commitments.
First Omnibus Amendment to SMBC RCF permits up to $400M of debt from LC facilities and grants liens on assets securing them.
MUFG Third Amendment reduces maximum revolver from $545M to $400M, extends maturity to Jan 13, 2026 plus 12-month amortization.
MUFG borrowing spread modified to SOFR plus 2.75%; non-use fee 0.75%–0.375%; minimum tangible net worth covenant set at $869M.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Hercules Capital, Inc. incurred credit facility of $100.0 million with Sumitomo Mitsui Banking Corporation maturing January 13, 2026.

Instrument: credit facility
Principal: $100.0 million
Counterparty: Sumitomo Mitsui Banking Corporation
Maturity: January 13, 2026
Event: incurrence

Exact text from the filing

Hercules Capital, Inc., a Maryland corporation (the “Company”), entered into a Letter of Credit Facility Agreement (the “SMBC LC Facility”) with Sumitomo Mitsui Banking Corporation (“SMBC”), as issuing bank. The SMBC LC Facility provides for a letter of credit facility with a final maturity date ending on January 13, 2026 and an initial commitment amount of $100.0 million.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hercules Capital, Inc. amended SMBC RCF First Omnibus Amendment with Sumitomo Mitsui Banking Corporation (effective 2023-01-13).

Action: amendment
Agreement: credit facility
Counterparty: Sumitomo Mitsui Banking Corporation
Effective: 2023-01-13

Exact text from the filing

On January 13, 2023, the Company entered into the First Omnibus Amendment to Revolving Credit Agreement and Guarantee and Security Agreement (the “SMBC RCF First Omnibus Amendment”), which among other things, amends the Revolving Credit Agreement, dated as of November 9, 2021,

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Hercules Capital, Inc. entered into SMBC LC Facility with Sumitomo Mitsui Banking Corporation valued at $100.0 million (effective 2023-01-13).

Action: entry
Agreement: credit facility
Counterparty: Sumitomo Mitsui Banking Corporation
Value: $100.0 million
Effective: 2023-01-13

Exact text from the filing

On January 13, 2023, Hercules Capital, Inc., a Maryland corporation (the “Company”), entered into a Letter of Credit Facility Agreement (the “SMBC LC Facility”) with Sumitomo Mitsui Banking Corporation (“SMBC”), as issuing bank.

View on SEC.gov

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Hercules Capital, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-008904

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