Venture Lending & Leasing reduces revolving facility to $180 million

By Marisa Wong

Morgantown, W.Va., Feb. 1 – Venture Lending & Leasing VII, Inc. and Venture Lending & Leasing VII, LLC notified the lenders of its secured revolving loan facility that they intend to permanently reduce the lenders’ aggregate commitments by $20 million, according to an 8-K filing with the Securities and Exchange Commission.

The total size of the credit facility was reduced to $180 million, effective as of Jan. 30.

The funds entered into the original syndicated loan agreement led by Wells Fargo, NA and Union Bank, NA on July 18, 2013.

Venture Lending & Leasing VII is a non-diversified, closed-end management investment company based in Portola Valley, Calif., that provides debt financing to venture capital-backed companies.

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