Gladstone Investment Corp. (GAIN) announced that it has renewed its credit facility agreement arranged by Deutsche Bank, A.G. as administrative agent through its subsidiary Gladstone Business Investment LLC.
The facility will mature on April 16, 2009 and provides Gladstone Investment with a revolving credit facility to make loans and investments in small and middle market businesses.
Deutsche Bank is providing $125 million of credit and the Company is working with other lenders to increase the facility to $200 million.
Advances under the credit facility will generally bear interest at the commercial paper rate plus 3.5% per annum, with a commitment fee of 0.75% per annum on the undrawn amounts.
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