Logan Ridge Finance Corporation Announces Full Repayment of the Legacy 5.75% Convertible Notes and 6.00% Notes Due May 31, 2022
As of
The repayment to the Trustee was completed on
- KeyBank Credit Facility: On
May 10, 2022 , the Company amended its existing senior secured revolving credit facility withKeyBank (“KeyBank Credit Facility”), by increasing the initial commitment from$25.0 million to$75.0 million , with an uncommitted accordion feature that allows the Company to borrow up to an additional$125.0 million . The amended KeyBank Credit Facility has aMay 10, 2027 maturity date. Borrowings under the amended KeyBank Credit Facility bear interest at 1M Term SOFR plus 2.90% during the 3-year revolving period and 3.25% thereafter, with 0.40% 1M Term SOFR floor. - 2032 Convertible Notes: On
April 1, 2022 , the Company entered into a note purchase agreement for the issuance of$15.0 million convertible notes due inApril 2032 . The 2032 Convertible Notes bear interest at 5.25%. - 2026 Notes: On
October 29, 2021 , the Company entered into a note purchase agreement for the issuance of$50.0 million notes due inOctober 2026 . The 2026 Notes bear interest at 5.25%.
About
About Mount Logan Capital Inc.
Mount Logan Capital Inc. (“MLC”) is an alternative asset management company that is focused on public and private debt securities in the North American market. MLC is the ultimate control person of
About
BC Partners Credit was launched in
Cautionary Statement Regarding Forward-Looking Statements
This communication contains “forward-looking” statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target” or other similar words or expressions. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include those risk factors detailed in the Company’s reports filed with the
Any forward-looking statements speak only as of the date of this communication. The Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
For additional information, contact:
Chief Financial Officer
Jason.Roos@bcpartners.com
(212) 891-5046
lcati@equityny.com
(212) 836-9611
sliegey@equityny.com
(212) 836-9630
Source: Logan Ridge Finance Corporation