Trinity Capital Inc. Expands its Credit Facility with KeyBank
Trinity Capital Inc. (Nasdaq: TRIN) has expanded its credit facility led by KeyBank N.A. from $350 million to $440 million, with an accordion feature allowing potential growth to $690 million. The amendment extends the maturity date to July 27, 2029, and increases the lender group to 11 banks. The facility now offers variable advance rates of up to 62% on eligible first-lien loans and 42% on second-lien loans.
CEO Kyle Brown highlighted that this expansion will support business growth and capitalize on market opportunities. CFO Michael Testa noted that the expanded facility, combined with recent 7.875% investment grade notes totaling $115.0 million and access to capital through their ATM program, enhances Trinity's liquidity position and strengthens their balance sheet for portfolio growth.
Trinity Capital Inc. (Nasdaq: TRIN) ha ampliato la sua linea di credito guidata da KeyBank N.A. da 350 milioni di dollari a 440 milioni di dollari, con una caratteristica di espansione che consente una crescita potenziale fino a 690 milioni di dollari. L'emendamento estende la data di scadenza al 27 luglio 2029 e aumenta il gruppo di finanziatori a 11 banche. La linea di credito offre ora tassi di avanzamento variabili fino al 62% sui prestiti di primo grado ammissibili e al 42% sui prestiti di secondo grado.
Il CEO Kyle Brown ha sottolineato che questa espansione sosterrà la crescita aziendale e sfrutterà le opportunità di mercato. Il CFO Michael Testa ha osservato che la linea di credito ampliata, insieme ai recenti titoli di debito di grado d'investimento al 7,875% per un totale di 115,0 milioni di dollari e all'accesso al capitale attraverso il loro programma ATM, migliora la posizione di liquidità di Trinity e rafforza il bilancio per la crescita del portafoglio.
Trinity Capital Inc. (Nasdaq: TRIN) ha ampliado su línea de crédito liderada por KeyBank N.A. de $350 millones a $440 millones, con una característica de accordion que permite un crecimiento potencial hasta $690 millones. La enmienda extiende la fecha de vencimiento al 27 de julio de 2029 y aumenta el grupo de prestamistas a 11 bancos. La línea de crédito ahora ofrece tasas de avance variables de hasta el 62% en préstamos de primer gravamen elegibles y del 42% en préstamos de segundo gravamen.
El CEO Kyle Brown destacó que esta expansión apoyará el crecimiento del negocio y capitalizará las oportunidades del mercado. El CFO Michael Testa señaló que la línea de crédito ampliada, combinada con recientes notas de grado de inversión del 7.875% por un total de $115.0 millones y el acceso a capital a través de su programa ATM, mejora la posición de liquidez de Trinity y fortalece su balance para el crecimiento de la cartera.
트리니티 캐피탈 주식회사 (Nasdaq: TRIN)는 KeyBank N.A.가 주도하는 신용 시설을 3억 5천만 달러에서 4억 4천만 달러로 확대하였으며, 6억 9천만 달러까지 성장할 수 있는 조정 기능을 추가했습니다. 이러한 수정안은 만료일을 2029년 7월 27일로 연장하고, 대출자 그룹을 11개 은행으로 늘렸습니다. 현재 이 시설은 적격한 첫 번째 담보 대출에 대해 최대 62%, 두 번째 담보 대출에 대해 42%의 변동 진급 비율을 제공합니다.
CEO Kyle Brown은 이번 확장이 비즈니스 성장과 시장 기회를 활용하는 데 도움이 될 것이라고 강조했습니다. CFO Michael Testa는 확대된 시설이 최근 7.875%의 투자 등급 채권 1억 1천5백만 달러와 ATM 프로그램을 통한 자본 접근과 결합되어 트리니티의 유동성 위치를 개선하고 포트폴리오 성장을 위한 재무 상태를 강화한다고 언급했습니다.
Trinity Capital Inc. (Nasdaq: TRIN) a élargi sa ligne de crédit dirigée par KeyBank N.A. de 350 millions de dollars à 440 millions de dollars, avec une fonction d'accordion permettant une croissance potentielle jusqu'à 690 millions de dollars. L'amendement prolonge la date d'échéance au 27 juillet 2029 et augmente le groupe de prêteurs à 11 banques. La facilité offre désormais des taux de décaissement variables jusqu'à 62 % sur les prêts de premier rang éligibles et 42 % sur les prêts de second rang.
Le PDG Kyle Brown a souligné que cette expansion soutiendra la croissance de l'entreprise et saisira les opportunités du marché. Le directeur financier Michael Testa a noté que la facilité élargie, combinée aux récents billets de qualité investissement à 7,875 % totalisant 115,0 millions de dollars et à l'accès au capital via leur programme de DAB, améliore la position de liquidité de Trinity et renforce son bilan pour la croissance du portefeuille.
Trinity Capital Inc. (Nasdaq: TRIN) hat seine Kreditfazilität, die von KeyBank N.A. geleitet wird, von 350 Millionen Dollar auf 440 Millionen Dollar erhöht, mit einer Akkordeonfunktion, die ein potenzielles Wachstum auf 690 Millionen Dollar ermöglicht. Die Änderung verlängert das Fälligkeitsdatum bis zum 27. Juli 2029 und erhöht die Gruppe der Kreditgeber auf 11 Banken. Die Fazilität bietet jetzt variable Vorschussraten von bis zu 62% für berechtigte erste Hypothekendarlehen und 42% für zweite Hypothekendarlehen.
CEO Kyle Brown hob hervor, dass diese Erweiterung das Unternehmenswachstum unterstützen und Marktchancen nutzen wird. CFO Michael Testa stellte fest, dass die erweiterte Fazilität, kombiniert mit den jüngsten 7,875%igen Investment-Grade-Anleihen in Höhe von 115,0 Millionen Dollar und dem Zugang zu Kapital über ihr Geldautomat-Programm, die Liquiditätsposition von Trinity verbessert und ihre Bilanz für das Portfolio-Wachstum stärkt.
- Credit facility expanded from $350 million to $440 million
- Potential to increase facility size to $690 million through accordion feature
- Maturity date extended to July 27, 2029
- Increased variable advance rates up to 62% on first-lien loans and 42% on second-lien loans
- Diversified lender group expanded to 11 banks
- Recent 5-year 7.875% investment grade notes raised $115.0 million
- None.
Insights
Trinity Capital's credit facility expansion is a positive development for the company's growth prospects. The increase from
The extended maturity to 2029 and improved borrowing terms (up to
The expansion of Trinity Capital's credit facility reflects growing confidence in the growth-stage lending market. With 11 banks now involved, there's broader institutional support for this sector. This could signal positive market dynamics for companies providing financial solutions to growth-stage firms.
Trinity's ability to secure more favorable terms and expand its lender base suggests a strong market position. The variable advance rates of up to
Credit facility can accordion to
Maturity Date Extended to July 2029
The amendment extends the maturity date of the facility to July 27, 2029 and broadens Trinity's borrowing capacity by providing a variable advance rate of up to
"The expansion of our credit facility will further support the growth of our business and allow us to take advantage of our current and future market opportunities," said Kyle Brown, Chief Executive Officer of Trinity Capital. "We are very pleased that we were able to continue to diversify our lender group and significantly expand the commitments under our credit facility. We welcome the new partners and thank our existing banks for their continued confidence in the Trinity platform."
"Proceeds from our recent 5-year
About Trinity Capital Inc.
Trinity (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans, equipment financings and equity-related investments. Trinity believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience, and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contact
Ben Malcolmson
Head of Investor Relations
Trinity Capital Inc.
ir@trincapinvestment.com
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SOURCE Trinity Capital Inc.
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