Corporate Capital Trust, a non-traded BDC sponsored by CNL, recently announced that it has increased its senior secured revolving credit facility by $170 million. Previously $320 million, the credit facility now has a borrowing capacity of $490 million and is further expandable to $600 million.
As a result of the increase, five new banks have been added to the facility bringing the total number of lenders to 16. The credit facility, which began on September 4, 2013, is set to mature in September 2017.
“We are pleased to be able to expand the facility,” said Andy Hyltin, CEO of Corporate Capital Trust. “We see a continued market opportunity to invest in directly originated loans and the expansion of this facility significantly increases our ability to take advantage of these opportunities,” he added.
In addition, the company has scheduled its quarterly earnings call for Friday, May 16, 2014 at 2:30 P.M. Eastern Time. To listen to the earnings call, dial (800) 931-6361; a passcode is not required.
Externally managed by CNL, Corporate Capital Trust allows individual investors the opportunity to invest in privately owned American companies.