Hercules CapitalInc. has expanded its credit facility with Wells Fargo Capital Finance,under which EverBank has committed $25.0 million, for a total of $120.0 millionin credit capacity under a $300.0 million accordion credit facility, subject toborrowing base, leverage and other restrictions.
Borrowings under the enhancement, which was effective April 7,maintain the current interest rate of LIBOR plus 3.25% with no floor and a maturitydate to August 2018, plus a 12-month amortization period. The advance rate of 50%against eligible loans remains the same.
According to an April 8 news release, the enhancement is in additionto a March 8 announcementthat AloStar Bank of Commerce committed $20.0 million under the Wells Fargo accordioncredit facility.