HOUSTON, Sept. 21, 2020 /PRNewswire/ — Stellus Capital Funding Company (the “Firm”) (NYSE: SCM) introduced right now that on September 18, 2020 it entered into an modification and extension of its $230 million Senior Secured Revolving Credit score Settlement (the “Facility”). The Firm prolonged the dedication termination date of the Facility to September 18, 2024 with a closing maturity of September 18, 2025, and amended sure covenants and situations of the Facility, together with a discount within the required asset protection. The Facility was led by Zions Bancorporation, N.A. dba Amegy Financial institution, and features a whole of 10 financial institution members. Pricing and advance charges stay unchanged on the Facility, aside from the addition of a LIBOR flooring of 0.25%.
“We’re happy to report the modification and extension of our $230 million financial institution credit score facility to September of 2025. We recognize the assist of our financial institution group, led by Amegy Financial institution, all through the COVID-19 interval and in acquiring this long-term extension,” mentioned Robert T. Ladd, Chief Govt Officer of Stellus Capital Funding Company.
About Stellus Capital Funding Company
The Firm is an externally managed, closed-end, non-diversified funding administration firm that has elected to be regulated as a enterprise improvement firm underneath the Funding Firm Act of 1940. The Firm’s funding goal is to maximise the full return to its stockholders within the type of present revenue and capital appreciation by investing primarily in personal middle-market firms (sometimes these with $5.Zero million to $50.Zero million of EBITDA (earnings earlier than curiosity, taxes, depreciation and amortization)) by way of first lien, second lien, unitranche and mezzanine debt financing, and corresponding fairness investments. The Firm’s funding actions are managed by its funding adviser, Stellus Capital Administration. To be taught extra about Stellus Capital Funding Company, go to www.stelluscapital.com underneath the “Public Buyers” hyperlink.
Statements included herein could include “forward-looking statements” which relate to future efficiency or monetary situation. Statements aside from statements of historic details included on this press launch could represent forward-looking statements and aren’t ensures of future efficiency or outcomes and contain various assumptions, dangers and uncertainties, which change over time. Precise outcomes could differ materially from these anticipated in any forward-looking statements on account of various elements, together with these described occasionally in filings by the Firm with the Securities and Trade Fee together with the ultimate prospectus that can be filed with the Securities and Trade Fee. The Firm undertakes no obligation to replace any forward-looking assertion made herein. All forward-looking statements communicate solely as of the date of this press launch.
Stellus Capital Funding Company
W. Todd Huskinson, (713) 292-5414
Chief Monetary Officer
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SOURCE Stellus Capital Funding Company