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Strategic Credit Opportunities Partners unit inks $250M credit facility

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Strategic Credit Opportunities Partners unit inks $250M credit facility

A subsidiary of Strategic Credit Opportunities Partners LLC has entered a credit agreement with Goldman Sachs Bank USA for a $250 million revolving credit facility.

The subsidiary, Jersey City Funding LLC, is backing the facility with substantially all its assets. The facility can provide loans in U.S. dollars, Australian dollars, euros and British pounds. U.S. dollar loans bear interest at a rate equal to the London Interbank Offered Rate plus 2.25%. The facility matures Sept. 29, 2021.

The total assets in Strategic Credit Opportunities Partners now exceed $600 million. The company is a joint venture between Corporate Capital Trust Inc. and Conway Capital LLC, which is an affiliate of Guggenheim Life & Annuity Co. and Delaware Life Insurance Co.