debt
confidence high
sentiment neutral
materiality 0.55
AFC Gamma enters $60M senior secured revolver with East West Bank; replaces $75M affiliate facility
Advanced Flower Capital Inc.
- New $60M revolving credit facility (expandable to $100M) with East West Bank as lead arranger and agent.
- Interest rate is greater of base rate +0.50% or 4.50%; secured by certain loan obligations.
- Covenants: minimum liquidity $5M, annual debt service coverage ≥1.50x, secured debt ≤25% of consolidated assets.
- Prior $75M revolving credit agreement with affiliate AFC Finance, LLC terminated effective April 29, 2022.
- Facility may be drawn, repaid, and redrawn subject to a borrowing base based on eligible loan obligations.