Logan Ridge Finance Corporation Announces Full Repayment of the Legacy 5.75% Convertible Notes and 6.00% Notes Due May 31, 2022
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 with KeyBank(“KeyBank Credit Facility”), by increasing the initial commitment from $25.0 millionto $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 a May 10, 2027maturity 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 millionconvertible notes due in April 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 millionnotes due in October 2026. The 2026 Notes bear interest at 5.25%.
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
BC Partners Credit was launched in
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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
Source: Logan Ridge Finance Corporation