Stellus Capital Investment Corporation (NYSE:SCM) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On September 13, 2019, Stellus Capital Investment Corporation (the “Company”) entered into a second amendment and commitment increase (the “Amendment”) to its Senior Secured Revolving Credit Agreement, dated as of October 10, 2017 (as amended, the “Credit Facility”), with Zions Bancorporation, N.A. dba Amegy Bank, as administrative agent and a lender, and the other lenders from time to time party thereto.
The Credit Facility was amended to (i) increase the total commitments under the Credit Facility from $180 million to $200 million and (ii) increase the amount of the accordion feature, which allows the Company to increase the aggregate commitments under the Credit Facility from a maximum of $195 million to a maximum of $250 million, subject to new or existing lenders agreeing to participate in the increase and other customary conditions.
The above summary is not complete and is qualified in its entirety by the full text of the Amendment, which is filed as an exhibit hereto.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 is incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 10.1 | Second Amendment to Senior Secured Revolving Credit Agreement and Commitment Increase, dated as of September 13, 2019, by and between Stellus Capital Investment Corporation, Zions Bancorporation, N.A. dba Amegy Bank, as administrative agent, and the lenders party thereto. |
Stellus Capital Investment Corp Exhibit
EX-10.1 2 tv529614_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 SECOND AMENDMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT AND COMMITMENT INCREASE THIS SECOND AMENDMENT TO SENIOR SECURED REVOLVING CREDIT AGREEMENT AND COMMITMENT INCREASE dated as of September 13,…
To view the full exhibit click here
About Stellus Capital Investment Corporation (NYSE:SCM)
Stellus Capital Investment Corporation is a closed-end, non-diversified management investment company. The Company originates and invests primarily in private middle-market companies through first lien, second lien, unitranche and mezzanine debt financing, with corresponding equity co-investments. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation. It invests in various sectors, such as business services, energy, general industrial, government services, healthcare, software and specialty finance. Its investment advisor is Stellus Capital Management, LLC (Stellus Capital Management). Stellus Capital Management is responsible for analyzing investment opportunities, conducting research and performing due diligence on investments, negotiating and structuring the Company’s investments, originating prospective investments, and monitoring its investments and portfolio companies on an ongoing basis.
