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CNL’s Non-Traded BDC Expands Credit Facility

Non-traded BDC, Corporate Capital Trust has recently expanded its senior secured revolving credit facility’s lending capacity by $165 million.

Now $655 million, the credit facility was first created in September 2013, at which time it was $285 million. The credit facility was increased in April 2014 to $490 million. The facility may be expanded to a maximum of $900 million and will mature in September 2017.

“We are pleased to be able to expand our credit facility for the third time in 16 months and are pleased with the breadth of lenders participating. We see investment opportunities arising from recent market volatility, and the expansion will provide more capital to capture those opportunities,” commented Steve Shackelford, president and chief financial officer of Corporate Capital Trust.

Sponsored by CNL Financial Group, Corporate Capital Trust is managed by KKR, a global alternative asset manager. The BDC invests in the debt of privately owned American companies, focusing on originated transactions sourced through the networks of its advisors, and seeks to provide shareholders with monthly income, portfolio diversification, and a potential protection against rising interest rates.