Stellus lifts revolver to $230 million, extends termination date

By Marisa Wong

Los Angeles, May 18 – Stellus Capital Investment Corp. said it increased commitments under its revolving credit facility to $230 million and extended the commitment termination date to March 10, 2021.

Stellus also amended some covenants and conditions of the facility, including a reduction in the required asset coverage and interest coverage ratios and a modification of the terms of the borrowing base, according to a news release.

The final maturity of the facility remains Oct. 10, 2021, and pricing remains unchanged.

The facility was led by Zions Bancorp, NA dba Amegy Bank and includes a total of 10 bank participants.

The externally managed, closed-end, non-diversified investment management company is based in Houston.

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