Gladstone Investment Corporation Announces Amendment To Its Credit Facility, Expanded To $145M

Gladstone Investment Corporation

announced today that on June 26, 2014, through one of its wholly-owned subsidiaries, Gladstone Business Investment, LLC, it entered into Amendment No. 1 to its Fifth Amended and Restated Credit Agreement (the "Credit Facility") with Key Equipment Finance, a division of Keybank National Association, Branch Banking and Trust Company, Everbank Commercial Finance, Inc. and Alostar Bank of Commerce. The highlights of the amendment are as follows: extending the revolving period of the Credit Facility by approximately 14 months to June 26, 2017; lowering the interest rate margin by 50 basis points to 3.25% until June 26, 2017, with the margin then increasing to 3.75% for the period from June 26, 2017 to June 26, 2018, and increasing further to 4.25% thereafter; extending the maturity date of the Credit Facility by approximately two years to June 26, 2019; and allowing the Credit Facility to now be expanded by up to $145 million, to a total facility amount of $250 million, through additional commitments of existing or new committed lenders.