Logan Ridge Finance Corporation Enhances Credit Facility Terms
![Logan Ridge Finance Corporation Enhances Credit Facility Terms](https://investorshangout.com/images/blog/investors-hangout-newswire.jpg)
Logan Ridge Finance Corporation Amends Its Senior Secured Credit Facility
Logan Ridge Finance Corporation (NASDAQ: LRFC) has announced significant amendments to its existing senior secured revolving credit facility with KeyBank National Association. This strategic move aims to enhance the financial foundation of the company while optimizing borrowing capacity and repayment conditions.
Key Enhancements in Credit Facility
The recent amendment includes a reduction of the interest rate margin during the reinvestment period from 2.90% to 2.80% per annum. This adjustment reflects the company's strategy to lower financing costs and improve overall cash flow efficiency.
Reinvestment Period and Maturity Date Extensions
In addition to the interest rate change, the amendments also extend the reinvestment period to August 2027 and the maturity date to August 2029. This extension provides Logan Ridge Finance Corporation with additional time to manage its investment activities, allowing for greater flexibility and responsiveness to market conditions.
Revised Advance Rates and Increased Borrowing Capacity
The amendment includes revisions to the advance rates and concentration limits associated with the credit facility. These adjustments are expected to create meaningful additional borrowing capacity for the company, further bolstering its financial stability and investment potential.
Focused Investment Strategy
Logan Ridge Finance Corporation operates as a business development company, primarily investing in first lien loans, with some investments in second lien loans and equity securities of lower middle-market companies. Targeting performing, well-established middle-market businesses, the company focuses on diverse industries, employing a fundamental credit analysis approach to minimize risks associated with market volatility.
About Logan Ridge Finance Corporation
As a business development company, Logan Ridge Finance Corporation is dedicated to investing in companies that have a stable operational profile and limited cyclical risk. The company emphasizes investments in businesses that show resilience and can provide consistent returns, thereby aligning with its strategic goals of sustainable growth.
Investor Relations and Company Contact Information
For those interested in learning more about Logan Ridge Finance Corporation and its financial strategies, the company invites inquiries and welcomes discussions with potential investors and stakeholders. They can reach out to the company directly at its New York office.
Contact Details
Logan Ridge Finance Corporation
650 Madison Avenue, 3rd Floor
New York, NY 10022
Brandon Satoren
Chief Financial Officer
Email: Brandon.Satoren@bcpartners.com
Phone: (212) 891-2880
Lena Cati
The Equity Group Inc.
Email: lcati@equityny.com
Phone: (212) 836-9611
Val Ferraro
The Equity Group Inc.
Email: vferraro@equityny.com
Phone: (212) 836-9633
Frequently Asked Questions
What is the main purpose of the amendment to the credit facility?
The amendment aims to reduce interest costs, extend repayment timelines, and enhance borrowing capacity.
What are the new interest rates following the amendment?
The interest rate margin during the reinvestment period is now reduced to 2.80% per annum.
When does the reinvestment period end after the amendment?
The reinvestment period has been extended to August 2027.
How does Logan Ridge Finance Corporation primarily invest?
The company primarily invests in first lien loans and also engages in second lien loans and equity investments.
Where can investors find more information about the company?
Investors can visit the company's website or contact them directly using the provided contact information.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Cargotec Corporation Announces Share Repurchase
- EnWave Corporation Q3 2024 Financial Highlights
- Savaria Corporation Declares Monthly Dividend
- Patriot Glass Solutions Enhances Security with ASESS Shield
- Repligen Corporation's Upcoming Presentation at Healthcare Conference
- Balchem Corporation to Showcase Innovations at Conference
- OKX Wallet Enhances DeFi Trading with NovaBits Integration
- Vaisala Corporation Announces Managers' Transaction Details
- First Watch Enhances Board with New Appointments
- DTE Energy Enhances Reliability with Smart Grid Technology