Logan Ridge Finance Corporation Amends and Extends its Existing Senior Secured Revolving Credit Facility
21 Août 2024 - 10:05PM
Logan Ridge Finance Corporation (Nasdaq: LRFC) (the “Company”)
today announced that it has amended and extended its existing
senior secured revolving credit facility (as amended, the “Credit
Facility”) with KeyBank National Association.
Under the terms of the amendment, the applicable
margin during the reinvestment period was reduced from 2.90% per
annum to 2.80% per annum, and the applicable margin during the
amortization period was reduced from 3.25% per annum to 3.20% per
annum. The reinvestment period was also extended from May 2025 to
August 2027, and the maturity date was extended from May 2027 to
August 2029. Of note, the Credit Facility continues to provide for
borrowing of up to $75.0 million, and an uncommitted accordion
feature that allows the Company to borrow up to an additional
$125.0 million.
Furthermore, under the terms of the amendment,
the advance rates and concentration limits were revised, which
should create meaningful additional borrowing capacity for the
Company.
About Logan Ridge Finance
CorporationLogan Ridge Finance Corporation (Nasdaq: LRFC)
is a business development company that invests primarily in first
lien loans and, to a lesser extent, second lien loans and equity
securities issued by lower middle-market companies. The Company
invests in performing, well-established middle-market businesses
that operate across a wide range of industries. It employs
fundamental credit analysis, targeting investments in businesses
with relatively low levels of cyclicality and operating risk. For
more information, visit www.loganridgefinance.com.
Cautionary Statement Regarding
Forward-Looking Statements This communication contains
“forward-looking” statements. Forward-looking statements concern
future circumstances and results and other statements that are not
historical facts and are sometimes identified by the words “may,”
“will,” “should,” “potential,” “intend,” “expect,” “endeavor,”
“seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,”
“believe,” “could,” “project,” “predict,” “continue,” “target” or
other similar words or expressions. Forward-looking statements are
based upon current plans, estimates and expectations that are
subject to risks, uncertainties, and assumptions. Should one or
more of these risks or uncertainties materialize, or should
underlying assumptions prove to be incorrect, actual results may
vary materially from those indicated or anticipated by such
forward-looking statements. The inclusion of such statements should
not be regarded as a representation that such plans, estimates or
expectations will be achieved. Important factors that could cause
actual results to differ materially from such plans, estimates or
expectations include those risk factors detailed in the Company’s
reports filed with the Securities and Exchange Commission (“SEC”),
including the Company’s annual report on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K and other
documents filed with the SEC.
Any forward-looking statements speak only as of
the date of this communication. The Company does not undertake any
obligation to update any forward-looking statements, whether as a
result of new information or developments, future events or
otherwise, except as required by law. Readers are cautioned not to
place undue reliance on any of these forward-looking
statements.
For additional information, contact:
Logan Ridge Finance Corporation650 Madison
Avenue, 3rd FloorNew York, NY 10022
Brandon SatorenChief Financial Officer
Brandon.Satoren@bcpartners.com(212) 891-2880
Lena Cati The Equity Group
Inc.lcati@equityny.com(212) 836-9611
Val FerraroThe Equity Group
Inc.vferraro@equityny.com (212) 836-9633
Logan Ridge Finance (NASDAQ:LRFC)
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