TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On January26, 2018, TriplePoint Venture Growth BDC Corp. (the “Company”) issued a press release announcing that it had amended its Receivables Financing Agreement, dated as of February21, 2014 and as amended on June30, 2014, July18, 2014, August8, 2014, November18, 2014 and January27, 2016 (the “Credit Facility”), by executing a letter agreement, dated January25, 2018 (the “Amendment”), by and among the Company, individually and as collateral manager and as equityholder of the borrower, TPVG Variable Funding Company LLC, as borrower, Portfolio Financial Servicing Company, as backup collateral manager, Deutsche Bank AG, New York Branch, as administrative agent, Deutsche Bank Trust Company Americas, as paying agent, the lenders from time to time parties thereto, the agents for the lender groups from time to time parties thereto, and U.S. Bank National Association, as custodian.The Amendment, among other things, (i)increased the capacity of the Credit Facility from $200million to $210million, (ii)extended the revolving period of the Credit Facility from February21, 2018 to February21, 2020 and the maturity date of the Credit Facility from February21, 2019 to August21, 2021, (iii) reduced the undrawn rate from 0.75% to 0.50% and reduced the applicable margin based on the utilization rate of the Credit Facility (a 2.80% applicable margin if utilization is greater than or equal to 75%, a 2.90% applicable margin if utilization is greater than or equal to 50%, and a 3.00% applicable margin if utilization is less than 50%) and (iv)added a new lender, MUFG Union Bank, N.A. Borrowings under the Credit Facility are subject to its various covenants and the leverage restrictions contained in the Investment Company Act of 1940, as amended.
A copy of the press release is attached hereto as Exhibit 99.1, and a copy of the Amendment is attached hereto as Exhibit 10.1. The foregoing description is qualified in its entirety by reference to the full text of the press release and the Amendment, each of which are incorporated herein by reference.
| Item 1.01 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant. |
The information contained in Item 1.01 to this current report on Form 8-K is incorporated by reference in this Item 1.01.
| Item 1.01 | Financial Statements and Exhibits. |
(d) Exhibits.
TriplePoint Venture Growth BDC Corp. ExhibitEX-10.1 2 d530984dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 EXECUTION VERSION January 25,…To view the full exhibit click here
About TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)
TriplePoint Venture Growth BDC Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by primarily lending with warrants to venture growth stage companies focused in technology, life sciences and other high growth industries, which are backed by TriplePoint Capital LLC’s (TPC) select group of venture capital investors. The Company targets investment opportunities in venture growth stage companies backed by venture capital investors. The Company originates and invests primarily in loans that have a secured collateral position and are used by venture growth stage companies to finance their continued expansion and growth, equipment financings and, on a select basis, revolving loans. The Company is managed by TPVG Advisers LLC.
