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Gladstone Capital upsizes credit facility

Gladstone Capital Corp. raised the current commitment amount of its syndicated credit facility led by KeyBank NA to $190 million from $170 million.

The credit facility may be expanded to $265 million through additional commitments of existing lenders.

The revolving period of the credit facility was also extended to Jan. 15, 2021, from Jan. 19, 2019, and its maturity date was moved to April 15, 2022, from May 1, 2020.

The interest rate margin was reduced by 40 basis points to 2.85% for the balance of the revolving period until Jan. 15, 2021, after which the margin increases to 3.25% for the balance of the facility term.