Signed Dec 30, 2022
- Committed
- $250m
- Matures
- Mar 2028
- Agent
- City National Bank
| Tranche | Size | Matures | Margin |
|---|---|---|---|
| Revolving Credit | $250m | Mar 2028 | n/a |
Priced over Term SOFR, floor 0 bps (Revolving credit facility).
§1.1
Lenders: City National Bank
REVOLVING CREDIT AGREEMENT
CovenantTestedHeadroomLimit now
Tested quarterlyHeadroom not yet measured3.50x
Equity cure available.
Borrower will not permit the ratio of (i) Consolidated Net Funded Indebtedness as of the end of any fiscal quarter of Borrower to (ii) Consolidated Adjusted EBITDA ... to be greater than 3.50 to 1.00.Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured10,616,900,000
Borrower will not permit, as of the end of any fiscal quarter, the Fee Earning Equity Owned and Operated to be less than $10,616,900,000.Read the filing on sec.gov ↗
Amendments
Mar 28, 2025
Amendment
Amends the revolver to increase the aggregate commitments to $250,000,000 and extend the maturity to March 28, 2028. It also revises the accordion capacity to $50,000,000 and sets the Swing Line Maximum Amount formula with a cap of $50,000,000.
- revolver_commitment: n/a → 250000000 §2(b); Definition “Revolving Credit Aggregate Commitment”
- maturity_date: n/a → 2028-03-28 §Definition “Maturity Date”
- commitment_increase_cap: n/a → 50000000 §Section 2.13(a)
- swingline_cap: n/a → 50000000 §Definition “Swing Line Maximum Amount”
Jan 27, 2023
Amendment
Adds Comerica Bank as a new Lender and increases the unsecured revolving credit facility by $25,000,000 to a total of $175,000,000. Also updates the Swing Line Maximum Amount and revises a reference in Section 2.13(a) to reflect the $25,000,000 increase effective January 27, 2023.
- commitment_increase_amount: $50,000,00 → 25000000 §Section 3(a)(iii)
Jan 24, 2023
Amendment
The amendment upsizes the unsecured revolving credit facility to $150,000,000 and adds Truist Bank as a new lender. It also increases the Swing Line sublimit to $56,250,000 and reduces the future commitment increase (accordion) capacity to $50,000,000, while updating the fee letter and administrative roles.
Filing ↗
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