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News Breaks | | | | March 13, 2013 | | 05:25 EDT |  | KED | Kayne Anderson increases revolving credit facility to $95M
Kayne Anderson announced that it amended its secured revolving credit facility to increase the total commitment amount from $85M to $95M. This $10M increase in commitment amount was accomplished by adding a new lender to the syndicate. All other terms of the credit facility remain the same. The maturity date is March 30, 2014, and outstanding loan balances accrue interest daily at a rate equal to LIBOR plus 2.00%, based on the current borrowings and the current borrowing base. As of March 11, the company had $68M in borrowings outstanding under the credit facility. | |
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