Hercules Capital, Inc. (NYSE: HTGC) announced on December 2, 2024, that it has renewed and upsized its existing credit facility with Sumitomo Mitsui Banking Corporation (SMBC) to $300.0 million. This represents an increase from the previous $225.0 million facility.
The renewed credit facility includes commitments from Synovus Bank, Customers Bank, and Apple Bank, alongside SMBC. It also features an uncommitted accordion option that could expand the total capacity up to $500.0 million, subject to certain restrictions.
This strategic move strengthens Hercules Capital's capital resources and enhances its operational flexibility, while maintaining an optimal cost of capital. The facility matures in November 2029, including a 12-month amortization period, providing long-term funding stability for the company's lending operations.
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