Gladstone Investment amends credit facility: size reduced to $135M, revolving period extended to Oct 2026

GLADSTONE INVESTMENT CORPORATION\DE

Credit facility reduced from $180.0M to $135.0M; revolving period extended to October 30, 2026, with final maturity two years later.
Advances bear interest at Term SOFR + 3.15% p.a. during revolving period, stepping up to 3.40% and then 3.65% after.
Unused commitment fee tiers: 0.50% if usage ≤50%, 0.75% if >50% to ≤65%, 1.00% if >65%.
Lenders Customers Bank and Hancock Whitney Bank exited the facility as of the Effective Date.
Borrowing base and standard covenants amended; KeyBank remains administrative agent.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

GLADSTONE INVESTMENT CORPORATION\DE amended Amendment No. 8 with KeyBank National Association (effective 2023-10-30).

Action: amendment
Agreement: credit facility
Counterparty: KeyBank National Association
Effective: 2023-10-30

Exact text from the filing

On October 30, 2023, Gladstone Investment Corporation (the “Company”), through its wholly-owned subsidiary Gladstone Business Investment, LLC, entered into Amendment No. 8 (the “Amendment”) to its Fifth Amended and Restated Credit Agreement with KeyBank National Association (“KeyBank”), as administrative agent, lead arranger and lender, Gladstone Management Corporation, the Company’s Adviser, as servicer, and certain other lenders party thereto (together with the Amendment, the “Credit Facility”).

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GLADSTONE INVESTMENT CORPORATION\DE filing history →

Source: SEC EDGAR

accession 0001193125-23-267202

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