CNL’s Corporate Capital Trust Secures $200 Million Credit Facility

Corporate Capital Trust, a non-traded business development company sponsored and advised by CNL Financial Group and KKR, closed a new $200 million credit facility with Sumitomo Mitsui Banking Corporation.

The facility bears an interest rate of the 3-month Libor rate plus 1.75 percent if the average outstanding balance is greater than $100 million or the 3-month Libor rate plus 2 percent if the average outstanding balance is less than $100 million. The credit facility matures in December 2020.

“We are pleased to form this relationship as the addition of the credit facility further strengthens our ability to execute on the opportunities arising in the market,” says Steve Shackelford, president and chief financial officer of Corporate Capital Trust. “Along with more than $2.5 billion in equity capital, we have a broad lender base of 21 financial institutions currently providing capital through our various facilities.”

In other Corporate Capital Trust news, The DI Wire recently reported that, as of Jan. 29, 2016, investment in the common stock of the company will be closing to investors who purchase shares through the independent broker-dealer channel. However, the offering will remain open to investors who purchase through the registered investment advisor channel.

Corporate Capital Trust is a non-traded business development company that provides individuals an opportunity to invest in privately-owned American companies. The company is externally managed by CNL and KKR.

CNL Financial Group is a private investment management firm providing global real estate and alternative investments headquartered in Orlando, Florida. Since inception in 1973, CNL Financial Group and/or its affiliates have formed or acquired companies with more than $33 billion in assets.

KKR & Co. L.P. is a global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.