Non-traded business development company Sierra Income Corporation, recently added $20 million of commitments to its credit facility.
Led by ING Capital LLC, Sierra’s senior secured revolving credit facility now totals $170 million and includes an accordion feature up to an aggregate of $500 million.
The additional $20 million was committed by a new lender.
“We are pleased to increase the commitments to our credit facility through the expansion of our lender group,” said Seth Taube, Chief Executive Officer of the Company.
Sierra invests in first lien senior secured debt, second lien secured debt, and sometimes subordinated debt of middle market companies with annual revenues of $50 million and $1 billion.
“We intend to utilize the additional lending commitment to continue to grow our investment portfolio and we look forward to working with the lender group as we expand our business in the years ahead,” added Taube.