Financing ·
Saratoga Investment Corp. increases Valley Credit Facility borrowings to $110M
SAJSaratoga Investment Corp.
Saratoga Investment Corp. and its subsidiary Saratoga Investment Funding II LLC entered into a First Amendment to their Credit and Security Agreement with Valley National Bank. The amendment increases the available borrowings under the facility from $85 million to $110 million and raises the potential increase commitment from $100 million to $135 million during the first two years post-closing. Other changes include capping Unitranche Loan advance rates at 70%, increasing healthcare industry concentration limits to 35% of Aggregate ECA Value, raising single obligor concentration caps to 35%, and replacing Henri Steenkamp with Christine Ramdihal as a Key Person. Saratoga Investment Corp. operates in the alternative asset management sector, specifically focusing on private credit investments.