Gladstone Investment Corporation
Nov 17, 2016

Gladstone Investment Corporation Announces Amendment to its Credit Facility

MCLEAN, Va., Nov. 17, 2016 (GLOBE NEWSWIRE) -- Gladstone Investment Corporation (NASDAQ:GAIN) (the "Company") announced today that on November 16, 2016, the Company, through its wholly-owned subsidiary, Gladstone Business Investment, LLC, entered into Amendment No. 2 to its Fifth Amended and Restated Credit Agreement (the "Credit Facility") with Keybank National Association, Alostar Bank of Commerce, Manufacturers and Traders Trust, East West Bank, Chemical Bank (as successor in interest to Talmer Bank and Trust), and Customers Bank.  The amendment follows the successful issuance of $57.5 million of 6.25% Series D Cumulative Term Preferred Stock, due 2023, in September 2016, the proceeds of which significantly exceeded the redemption payment of $40.0 million made on September 30, 2016 for the Company's 7.125% Series A Cumulative Term Preferred Stock, due 2017. The Company's availability under its previous revolving line of credit was approximately $80 million prior to the amendment and approximately $102 million following the completion of the amendment.

Amendment No. 2 amended the Credit Facility to, among other things:

             
About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in small and medium-sized businesses in the United States in connection with acquisitions, changes in control and recapitalizations.  The Company has paid 136 consecutive monthly cash distributions on its common stock. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.

 

Investor Relations Inquiries: Please visit www.gladstone.com or +1-703-287-5893.

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Source: Gladstone Investment Corporation

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