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Silvercrest Asset Management unit extends credit facility


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Silvercrest Asset Management unit extends credit facility

Silvercrest Asset Management Group Inc.'s Silvercrest LP and certain of its units on Dec. 23 amended a $15.0 million credit facility with City National Bank, which consists of a $7.5 million delayed draw term loan that matures June 24, 2020, and a $7.5 million revolving credit facility that matured Dec. 24.

The amendment extends the maturity date of the $7.5 million revolving credit facility until Dec. 23, 2017. The credit agreement and all other loan documents between the credit parties and City National Bank continued in full force and effect.

Silvercrest LP and its units are borrowers under the facility, which is secured by certain assets of the company and the units. Silvercrest LP guarantees the obligations of such subsidiaries under the facility.