Skip to content

Corporate Capital Trust Expands Credit Facility

Corporate Capital Trust, a non-traded business development company sponsored and advised by CNL Financial Group and KKR, amended its senior secured credit facility, resulting in an increased borrowing capacity, a reduced overall cost of the facility, and an extended maturity date.

The aggregate commitments under the credit facility now total $893 million, up from $710 million. The stated interest rate was lowered to LIBOR plus 2 percent or LIBOR plus 2.25 percent, subject to borrowing base conditions. This is down from the previous rate of LIBOR plus 2.50 percent. The maturity date of the facility was also extended from September 2017 to April 2021.

“We are pleased with the improvements to the credit facility, which include lower pricing and a longer term, in addition to the expanded commitments from a large and diversified bank group,” said Steve Shackelford, president of Corporate Capital Trust. “Having this additional capital will enable us to further capture investment opportunities as they arise.”

Corporate Capital Trust provides individuals an opportunity to invest in privately-owned American companies. Earlier this year, the company closed its offering to investors who purchase shares through the independent broker-dealer channel. However, the offering will remain open to those who purchase through the registered investment advisor channel.

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.