SAN FRANCISCO--(BUSINESS WIRE)--Dec. 1, 2017--
Corporate Capital Trust, Inc., a leading business development company,
today announced it increased the maximum borrowing capacity of two of
its secured revolving credit facilities.
On November 28, 2017, the borrowing capacity of CCT Tokyo Funding, LLC,
a wholly-owned subsidiary of Corporate Capital Trust, under its
revolving credit facility with Sumitomo Mitsui Banking Corporation was
increased to $300 million from $200 million, with interest charged at
the option of CCT Tokyo Funding at a rate of (a) LIBOR plus 1.75%, if
the average advances are greater than $150 million, otherwise plus 2.00%
or (b) the higher of the prime rate or the federal funds rate plus
0.50%, plus 0.75% if the average advances outstanding are greater than
$150 million, otherwise plus 1.00%. This credit facility matures in 2021.
Additionally, also on November 28, 2017, Corporate Capital Trust
increased the size of its revolving credit facility with JPMorgan Chase
Bank, N.A., as administrative agent, and ING Capital LLC, as syndication
agent, by $30 million for a total revolving credit facility size of $958
million. Borrowings under this credit facility, which includes 21
lenders, bears interest (at the option of Corporate Capital Trust) at a
rate of (a) LIBOR plus 2.00%, if the borrowing base is equal to or
greater than 1.85 times the combined debt amount, otherwise plus 2.25%,
and (b) the greatest of the prime rate, the federal funds rate plus
0.50%, and one-month LIBOR plus 1.00%, plus 1.00%, if the borrowing base
is equal to or greater than 1.85 times the combined debt amount,
otherwise plus 1.25%. This credit facility matures in 2021.
“We are pleased to continue to build our capital structure at an
attractive cost of borrowings, while expanding an already diverse lender
group,” said Todd Builione, CEO of Corporate Capital Trust.
About Corporate Capital Trust
Corporate Capital Trust is a business development company that provides
investors an opportunity to access middle market direct lending
investments. The Company is externally managed by KKR Credit Advisors
(US) LLC (“KKR”), a subsidiary of KKR & Co. LLP (“KKR & Co.”), and its
investment objective is to provide shareholders with current income and,
to a lesser extent, long-term capital appreciation. The Company intends
to meet its investment objective by investing primarily in the debt of
privately owned companies, with a focus on originated transactions. For
additional information, please visit www.corporatecapitaltrust.com.
KKR & Co. is a leading global investment firm that manages multiple
alternative asset classes, including credit, private equity, energy,
infrastructure and real estate, and, through its strategic manager
partnerships, hedge funds. KKR & Co. aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation with KKR & Co. portfolio companies. KKR & Co. invests its own
capital alongside its partners' capital and provides financing solutions
and investment opportunities through its capital markets business.
References to KKR’s investments may include the activities of its
sponsored funds. For additional information about (NYSE: KKR), please
visit KKR's website at http://www.kkr.com
and on Twitter @KKR_Co.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171201005793/en/
Source: Corporate Capital Trust, Inc.
For Corporate Capital Trust
/ Cara Major
Danny McMahon / Donna Bass