Kayne Anderson shrinks agreement to $50 million, extends maturity

By William Gullotti

Buffalo, N.Y., Jan. 5 – Kayne Anderson BDC, Inc. entered a fourth amendment to its subscription credit agreement with City National Bank as administrative agent on Dec. 31, according to an 8-K filing with the Securities and Exchange Commission.

The facility commitments were reduced to $50 million from $75 million, and the maturity date was extended by one year to Dec. 31, 2024. The extension comes with a 7.5 basis point fee on the commitment amount.

All other terms of the agreement remained substantially the same.

Kane Anderson BDC was formed to make investments in middle-market companies and is based in Houston.

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