SARATOGA INVESTMENT CORP. (SAR): debt financing — Saratoga Investment amends credit facility: borrowing base raised to $65M, maturity extended to Jan 2026

The Amendment, among other things: (i) increased the borrowings available under the Encina Credit Facility from up to $50.0 million to up to $65.0 million; (ii) changed the underlying benchmark used to compute interest under the Credit Agreement from LIBOR to Term SOFR for a one-month tenor plus a 0.10% credit spread adjustment; (iii) increased the applicable effective margin rate on borrowings from 4.00% to 4.25%; (iv) extended the revolving period from October 4, 2024 to January 27, 2026;

On January 27, 2023, Saratoga Investment Corp. (the “Company”) entered into the First Amendment (the “Amendment”) to the Credit and Security Agreement, dated as of October 4, 2021 (the “Credit Agreement”), by and among Saratoga Investment Fund II LLC, a wholly owned subsidiary of the Company, as borrower (the “Borrower”), the Company, as equityholder and as collateral manager, the lenders party thereto, and Encina Lender Finance, LLC, as administrative agent and as collateral agent, and agreed to and acknowledged by U.S. Bank National Association, as custodian, and U.S. Bank Trust Company, National Association (successor in interest to U.S. Bank National Association), as collateral administrator, relating to the Borrower’s senior secured revolving credit facility (the “Encina Credit Facility”).