Portman Ridge Finance Corporation Amends and Extends Its Senior Secured Revolving Credit Facility

Core Viewpoint - Portman Ridge Finance Corporation has amended and extended its senior secured revolving credit facility, increasing commitments and reducing interest rate margins, which may enhance its financial flexibility and investment capacity [6][11]. Group 1: Credit Facility Amendments - The company has increased the aggregate principal amount of its credit facility from $115.0 million to $200.0 million [8][11]. - The applicable interest rate margin has been reduced from 2.80% to 2.50% per annum [11]. - A committed seven-day bridge advance of approximately $18.3 million has been included in the terms of the amendment [11]. Group 2: Refinancing and Maturity Extensions - The refinancing of Senior Secured Notes due November 20, 2029, will occur in connection with the increased credit facility, eliminating approximately $18.3 million of the notes and refinancing $85.0 million [9][11]. - The reinvestment period has been extended from April 29, 2025, to August 29, 2026, and the maturity date has been extended from April 29, 2026, to August 29, 2027 [11]. Group 3: Company Overview - Portman Ridge Finance Corporation is a publicly traded investment company regulated as a business development company under the Investment Company Act of 1940, focusing on middle market investments [7]. - The company manages a portfolio that includes term loans, mezzanine investments, and selected equity securities in middle market companies [7].