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TriplePoint Venture Growth BDC Corp. Announces Extension of its Revolving Credit Facility
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Rhea-AI Summary
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) announced an amendment to its revolving credit facility, extending the revolving period to May 31, 2024, and the maturity date to November 30, 2025. The facility currently offers $350 million in total commitments, with an option to increase it to $400 million. CFO Christopher M. Mathieu expressed appreciation for their banking group's support, emphasizing the company's strong position to meet demand for debt financing solutions.
Positive
Credit Facility extended until November 30, 2025, providing financial stability.
$350 million in total commitments under the Credit Facility, with potential expansion to $400 million.
Negative
None.
MENLO PARK, Calif.--(BUSINESS WIRE)--
TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) (the 鈥淐ompany,鈥� "TPVG," 鈥渨e,鈥� 鈥渦s,鈥� or 鈥渙ur鈥�), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced it has entered into an amendment to its revolving credit facility (鈥淐redit Facility鈥�) to, among other things, extend the revolving period from November 30, 2022 to May 31, 2024 and the scheduled maturity date from May 31, 2024 to November 30, 2025. The Company currently has $350 million in total commitments available under the Credit Facility, which includes an accordion feature that allows the Company to increase the size of the Credit Facility to up to $400 million under certain circumstances. Borrowings under the Credit Facility are subject to various covenants including the leverage restrictions contained in the Investment Company Act of 1940.
鈥淲e appreciate the continued support of our leading and diversified banking group,鈥� said Christopher M. Mathieu, Chief Financial Officer of TPVG. 鈥淲ith this attractive facility and our favorable investment grade notes outstanding, we remain well positioned to capitalize on the demand for our debt financing solutions.鈥�
ABOUT TRIPLEPOINT VENTURE GROWTH BDC CORP.
TriplePoint Venture Growth BDC Corp. is an externally-managed business development company focused on providing customized debt financing with warrants and direct equity investments to venture growth stage companies in technology and other high growth industries backed by a select group of venture capital firms. The Company鈥檚 sponsor, TriplePoint Capital, is a Sand Hill Road-based global investment platform which provides customized debt financing, leasing, direct equity investments and other complementary solutions to venture capital-backed companies in technology and other high growth industries at every stage of their development with unparalleled levels of creativity, flexibility and service. For more information about TriplePoint Venture Growth BDC Corp., visit . For more information about TriplePoint Capital, visit .
FORWARD-LOOKING STATEMENTS
Statements included herein may constitute 鈥渇orward-looking statements,鈥� which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the SEC. The Company undertakes no duty to update any forward-looking statements made herein.
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INVESTOR RELATIONS AND MEDIA CONTACT
The IGB Group Leon Berman 212-477-8438
lberman@igbir.com
Source: TriplePoint Venture Growth BDC Corp.
FAQ
What is the significance of the recent amendment to TriplePoint Venture Growth BDC Corp.'s credit facility?
The amendment extends the revolving credit period and maturity date, enhancing financial flexibility.
How much is TriplePoint Venture Growth BDC Corp.'s current credit facility?
The current credit facility offers $350 million in total commitments, with an option to increase to $400 million.
What are the new dates for TriplePoint Venture Growth BDC Corp.'s credit facility?
The revolving period is now extended to May 31, 2024, and the maturity date is pushed to November 30, 2025.
Who is the CFO of TriplePoint Venture Growth BDC Corp.?
The CFO of TriplePoint Venture Growth BDC Corp. is Christopher M. Mathieu.
