- extend the revolving period by over two years to November 15, 2019;
- extend the maturity date by over two years to November 15, 2021, at which time all principal and interest will be due and payable unless the Credit Facility is extended as described below;
- lower the interest rate margin by 10 basis points to 3.15% until November 15, 2019, with the margin then increasing to 3.40% for the period from November 15, 2019 to November 15, 2020, and increasing further to 3.65% thereafter;
- change the unused commitment fee from 0.50% of the total unused commitment amount to 0.50% on the portion of the total unused commitment amount that is less than or equal to 45% of the total commitments and 0.80% on the total unused commitment amount that is greater than 45%;
- reduce the current commitment amount to $165 million from $185 million and retain the ability to expand to a total facility amount of $250 million through additional commitments of new or existing lenders;
- change the static advance rate of 50% to multi-tiered advance rates up to 64% based on collateral quality; and
- provide two one-year extension options that may be exercised on or before the first and second anniversary of this amendment, subject to approval by all lenders.
Investor Relations Inquiries: Please visit www.gladstone.com or +1-703-287-5893.