Credit Facility, Financial Results & Upcoming Investor Update
Sierra Income Corporation (SIC), a non-traded, closed-end company that hopes to qualify as a BDC, recently revealed that its wholly owned subsidiary, Alpine Funding LLC, has entered into a revolving credit facility with JPMorgan Chase Bank.
The loan is secured by a first priority security interest in substantially all of the assets of Alpine, including its portfolio of loans. The credit facility provides for borrowing in an aggregate principal amount of up to $150,000,000 and will mature January 23, 2019. In order to comply with the asset coverage requirements under the Investment Company Act of 1940 Act applicable to BDCs, borrowings of Alpine will be considered borrowings of Sierra.
Announced today, SIC will release its second quarter financial results on August 6, 2014.
The company will also host an investor update conference call and audio webcast at 11:00 a.m. (Eastern Time) on Thursday, August 7, 2014. Those interested in participating may dial (877) 546-5020 approximately 10-15 minutes prior to the call and use the pass code 59978380.
The call will also be webcast live on the Company’s website.
