Loan & DebtOct 9, 2026, 04:36 PM
Saratoga Investment Corp. Increases Credit Facility to $110M
AI Summary
Saratoga Investment Corp. (SAR) announced an amendment to its Credit and Security Agreement with its financing subsidiary, Saratoga Investment Funding II LLC (SIF II). The amendment increases the total borrowings available under the Valley Credit Facility from $85 million to $110 million. It also raises the potential for further commitment increases to $135 million and adjusts concentration limits for healthcare and top obligor loans. Additionally, the definition of 'Key Person' was updated to reflect a change in personnel.
Key Highlights
- Saratoga Investment Corp. amended its credit agreement, increasing available borrowings from $85M to $110M.
- The amendment allows for potential commitment increases from $100M to $135M under certain conditions.
- Advance Rate for Unitranche Loans will not exceed 70% post-amendment.
- Concentration limit for healthcare industry collateral loans increased from 25% to 35% of Aggregate ECA Value.
- Concentration limit for top three obligors' collateral loans increased from 30% to 35% of Aggregate ECA Value.
- Christine Ramdihal replaced Henri Steenkamp in the definition of 'Key Person'.
Price Impact
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