Stellus Capital Investment Corporation (NYSE:SCM) Enters Increase Agreement for Credit Facility

Stellus Capital Investment Corporation (NYSE:SCM) recently announced that on October 30, 2024, the company entered into an Increase Agreement pertaining to the Amended and Restated Senior Secured Revolving Credit Agreement. This agreement was made with Zions Bancorporation, N.A. dba Amegy Bank, serving as the administrative agent, along with other lenders involved in the agreement.

The Increase Agreement has resulted in a substantial change, increasing the total Commitments under the Credit Facility from $260,000,000 to $315,000,000 on a committed basis. This amendment signifies a significant expansion in the financial resources available to Stellus Capital Investment Corporation.

While brief, this announcement encapsulates the core details of the Increase Agreement executed by the company. It is important to note that a full understanding of the agreement can be gleaned by referring to the detailed content of the Increase Agreement, which has been officially filed as Exhibit 10.1 to the current report on Form 8-K. Interested parties are encouraged to peruse the complete Increase Agreement for comprehensive insights regarding this development.

The ramifications of this Increase Agreement are evident as Stellus Capital Investment Corporation actively works to bolster its financial position. Such strategic maneuvers are crucial in navigating the evolving financial landscape to ensure sustained growth and stability for the company.

Investors and stakeholders are advised to stay abreast of further developments in light of this recent agreement and its potential impact on Stellus Capital Investment Corporation’s operational and financial strategies.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Stellus Capital Investment’s 8K filing here.

About Stellus Capital Investment

Stellus Capital Investment Corporation is a business development company specializing in investments in private middle-market companies. It invests through first lien, second lien, unitranche, and mezzanine debt financing, often with a corresponding equity investment. The fund prefers to invest in US and Canada.