TriplePoint Venture Growth BDC Corp. Renews Revolving Credit Facility
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) has announced an amendment to its revolving credit facility. Key changes include:
1. Extension of the revolving period from August 31, 2024, to November 30, 2025
2. Extension of the scheduled maturity date from November 30, 2025, to May 30, 2027
3. Reduction of total commitments to $300 million, with an accordion feature allowing increase up to $400 million
4. Maintained borrowing covenants, including leverage restrictions
The facility involves multiple lenders, led by Deutsche Bank AG, New York Branch. TPVG's president highlighted the facility's role in providing liquidity, diversifying capital structure, and supporting portfolio growth.
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) ha annunciato una modifica al suo contratto di linea di credito revolving. Le principali modifiche includono:
1. Estensione del periodo di revolving dalla data del 31 agosto 2024 al 30 novembre 2025
2. Estensione della scadenza programmata dalla data del 30 novembre 2025 al 30 maggio 2027
3. Riduzione degli impegni totali a 300 milioni di dollari, con una funzionalit脿 di accordo che consente un aumento fino a 400 milioni di dollari
4. Mantenimento dei covenants di prestito, inclusi i limiti di leverage
La linea coinvolge pi霉 creditori, guidati da Deutsche Bank AG, filiale di New York. Il presidente di TPVG ha sottolineato il ruolo della linea nel fornire liquidit脿, diversificare la struttura del capitale e supportare la crescita del portafoglio.
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) ha anunciado una modificaci贸n a su l铆nea de cr茅dito revolving. Los cambios clave incluyen:
1. Extensi贸n del per铆odo revolving desde el 31 de agosto de 2024 hasta el 30 de noviembre de 2025
2. Extensi贸n de la fecha de vencimiento programada desde el 30 de noviembre de 2025 hasta el 30 de mayo de 2027
3. Reducci贸n de los compromisos totales a 300 millones de d贸lares, con una caracter铆stica de accordion que permite un aumento hasta 400 millones de d贸lares
4. Mantenimiento de los convenios de pr茅stamo, incluidas las restricciones de apalancamiento
La l铆nea involucra m煤ltiples prestamistas, liderados por Deutsche Bank AG, sucursal de Nueva York. El presidente de TPVG destac贸 el papel de la l铆nea en la provisi贸n de liquidez, la diversificaci贸n de la estructura de capital y el apoyo al crecimiento de la cartera.
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TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) a annonc茅 une modification de sa facilit茅 de cr茅dit renouvelable. Les changements cl茅s incluent :
1. Extension de la p茅riode de renouvellement du 31 ao没t 2024 au 30 novembre 2025
2. Extension de la date d'茅ch茅ance programm茅e du 30 novembre 2025 au 30 mai 2027
3. R茅duction des engagements totaux 脿 300 millions de dollars, avec une option d'augmentation allant jusqu'脿 400 millions de dollars
4. Maintien des clauses de pr锚t, y compris les restrictions de levier
La facilit茅 implique plusieurs pr锚teurs, dirig茅s par Deutsche Bank AG, succursale de New York. Le pr茅sident de TPVG a soulign茅 le r么le de cette facilit茅 dans la fourniture de liquidit茅s, la diversification de la structure du capital et le soutien 脿 la croissance du portefeuille.
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) hat eine 脛nderung seiner revolvierenden Kreditfazilit盲t bekannt gegeben. Die wichtigsten 脛nderungen umfassen:
1. Verl盲ngerung der revolvierenden Periode vom 31. August 2024 bis zum 30. November 2025
2. Verl盲ngerung des geplanten F盲lligkeitsdatums vom 30. November 2025 bis zum 30. Mai 2027
3. Reduzierung der Gesamtempfehlungen auf 300 Millionen Dollar, mit einer Accordion-Funktion, die eine Erh枚hung auf bis zu 400 Millionen Dollar erm枚glicht
4. Beibehaltung der Kreditbedingungen, einschlie脽lich der Leverage-Beschr盲nkungen
Die Fazilit盲t umfasst mehrere Kreditgeber, angef眉hrt von der Deutsche Bank AG, Zweigstelle New York. Der Pr盲sident von TPVG hob die Rolle der Fazilit盲t bei der Bereitstellung von Liquidit盲t, der Diversifizierung der Kapitalstruktur und der Unterst眉tzung des Portfoliowachstums hervor.
- Extended revolving period by 15 months to November 30, 2025
- Extended maturity date by 18 months to May 30, 2027
- Maintained accordion feature allowing increase of credit facility up to $400 million
- Continued support from multiple lenders, indicating strong banking relationships
- Reduced total commitments from previous amount to $300 million
Insights
TriplePoint Venture Growth BDC Corp's (TPVG) credit facility amendment is a strategic move that enhances the company's financial flexibility. The extension of the revolving period to November 30, 2025 and maturity date to May 30, 2027 provides TPVG with a longer runway for capital deployment. While the reduction in total commitments to
The retained accordion feature, allowing expansion to
This credit facility renewal signals TPVG's strong positioning in the venture growth stage financing market. By securing extended terms, TPVG gains a competitive edge in a potentially tightening credit environment. The company's ability to maintain favorable terms suggests robust demand for venture debt, despite recent market volatility.
The decision to right-size the facility to
Borrowings under the Credit Facility are subject to various covenants including the leverage restrictions contained in the Investment Company Act of 1940. Deutsche Bank AG,
鈥淲e value the long-term commitment from our world-class banking group,鈥 said Sajal K. Srivastava, president and chief investment officer of TPVG. 鈥淭his Credit Facility continues to provide us with meaningful liquidity, a diversified capital structure, and flexibility to grow the portfolio as we seek to capitalize on lending opportunities in this market.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
Certain statements contained in this press release constitute forward-looking statements. Forward-looking statements are not guarantees of future performance, events, investment activity, financial condition or results and involve a number of substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company鈥檚 control. Words such as 鈥渁nticipates,鈥 鈥渆xpects,鈥 鈥渋ntends,鈥 鈥減lans,鈥 鈥渨ill,鈥 鈥渕ay,鈥 鈥渃ontinue,鈥 鈥渂elieves,鈥 鈥渟eeks,鈥 鈥渆stimates,鈥 鈥渨ould,鈥 鈥渃ould,鈥 鈥渟hould,鈥 鈥渢argets,鈥 鈥減rojects,鈥 and variations of these words and similar expressions are intended to identify forward-looking statements. Actual events, investment activity, performance, condition or results 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 the Company鈥檚 filings with the Securities and Exchange Commission. More information on these risks and other potential factors that could affect actual events and the Company鈥檚 performance and financial results, including important factors that could cause actual results or events to differ materially from plans or expectations included herein, is or will be included in the Company鈥檚 filings with the Securities and Exchange Commission, including in the 鈥淩isk Factors鈥 and 鈥淢anagement鈥檚 Discussion and Analysis of Financial Condition and Results of Operations鈥 sections of the Company鈥檚 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management鈥檚 opinions only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
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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 are the new dates for TPVG's revolving credit facility?
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