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HMS Income Fund ups credit facility, extends maturity date

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HMS Income Fund ups credit facility, extends maturity date

HMS Income Fund Inc. has amended a credit facility with Deutsche Bank to increase its commitments under the agreement, among other things.

The revolver commitments now stand at $450 million, up from $400 million.

The amendment also extended the maturity date of the facility to Nov. 20, 2022, and established a maximum borrowing capacity of $550 million.

Additionally, the amendment reduced the interest rate from the sum of the index plus an applicable margin of 2.50% to the sum of the index plus an applicable margin of 2.35%. The index will be equal to the one-month London interbank offered rate, or in the event that LIBOR is not reasonably available, the higher of Deutsche Bank's base commercial lending rate and the interest rate equal to 0.5% above the federal funds rate.