OHA InvestmentCorp. has amended its investment facility to reduce its size to$54.0 million from $72.0 million, reflecting the outstanding principal balanceon May 9.
The amended facility also extended the maturity date to July29 from May 23.
The amended facility requires that the company use cashproceeds from any returns of capital on its portfolio investments to prepaydebt obligations under the facility and those amounts cannot be re-borrowed.OHA Investment is permitted to accrue but prohibited from paying management orincentive fees to OHA under an investment advisory agreement or administrationagreement.
OHA Investment is in the process of negotiating a new investmentfacility, which is expected to be in place before July 29, according to a May10 news release.