Great Elm Capital Corp. Announces Amended and Upsized Revolving Credit Facility
Great Elm Capital Corp. (NASDAQ: GECC), a business development company, has successfully amended its revolving credit facility with City National Bank. The amendment includes two key improvements: doubling the borrowing capacity from $25.0 million to $50.0 million (with potential increase to $90.0 million), and reducing the interest rate from SOFR plus 3.00% to SOFR plus 2.50%.
CEO Matt Kaplan highlighted that this enhancement reflects the company's growing capital base and strong operational performance since establishing the initial facility in 2021. The improved terms are expected to reduce borrowing costs and provide greater flexibility for funding investment opportunities.
[ "Doubled borrowing capacity from $25M to $50M with potential increase to $90M", "Reduced interest rate by 50 basis points to SOFR + 2.50%", "Demonstrates strong operational performance and growing capital base", "Enhanced flexibility for funding investment opportunities" ]Great Elm Capital Corp. (NASDAQ: GECC), società di investimento per lo sviluppo aziendale, ha rinegoziato con successo la sua linea di credito revolving con City National Bank. L'emendamento prevede due miglioramenti chiave: raddoppiare la capacità di indebitamento da $25.0 milioni a $50.0 milioni (con possibile aumento fino a $90.0 milioni) e ridurre il tasso d'interesse da SOFR + 3,00% a SOFR + 2,50%.
Il CEO Matt Kaplan ha sottolineato che questa modifica riflette la crescita della base di capitale e le solide prestazioni operative della società dall'istituzione della linea iniziale nel 2021. I nuovi termini dovrebbero ridurre i costi di finanziamento e offrire maggiore flessibilità per sostenere opportunità di investimento.
- Raddoppiata la capacità di indebitamento da $25M a $50M con possibile aumento fino a $90M
- Ridotto il tasso d'interesse di 50 punti base a SOFR + 2,50%
- Dimostra solide performance operative e una base di capitale in crescita
- Maggiore flessibilità per finanziare opportunità di investimento
Great Elm Capital Corp. (NASDAQ: GECC), una compañía de desarrollo empresarial (Business Development Company), ha modificado con éxito su línea de crédito revolvente con City National Bank. La enmienda incluye dos mejoras clave: duplicar la capacidad de endeudamiento de $25.0 millones a $50.0 millones (con posibilidad de aumentar hasta $90.0 millones) y reducir el tipo de interés de SOFR + 3,00% a SOFR + 2,50%.
El CEO Matt Kaplan destacó que esta mejora refleja la creciente base de capital y el sólido desempeño operativo de la compañía desde que se estableció la línea inicial en 2021. Se espera que las condiciones mejoradas reduzcan los costes de financiación y proporcionen mayor flexibilidad para financiar oportunidades de inversión.
- Duplicada la capacidad de endeudamiento de $25M a $50M con posibilidad de aumento hasta $90M
- Reducido el tipo de interés en 50 puntos básicos a SOFR + 2,50%
- Refleja sólido desempeño operativo y una base de capital en crecimiento
- Mayor flexibilidad para financiar oportunidades de inversión
Great Elm Capital Corp. (NASDAQ: GECC)는 비즈니스 개발 회사(Business Development Company)로서 City National Bank와의 리볼빙 신용시설을 성공적으로 수정했습니다. 이번 개정에는 두 가지 주요 개선 사항이 포함됩니다: 차입 한도를 $25.0M에서 $50.0M으로 2배 확대(최대 $90.0M까지 증액 가능)하고, 이자율을 SOFR + 3.00%에서 SOFR + 2.50%로 인하한 것입니다.
CEO 매트 캡란(Matt Kaplan)은 이 개선이 2021년 초기 시설 설정 이후 회사의 자본 기반 확대와 견고한 운영 성과를 반영한다고 강조했습니다. 개선된 조건은 차입 비용을 낮추고 투자 기회를 자금 조달하는 데 더 큰 유연성을 제공할 것으로 기대됩니다.
- 차입 한도 $25M에서 $50M으로 2배 확대(최대 $90M까지 가능)
- 이자율 50베이시스 포인트 인하, SOFR + 2.50%로 조정
- 강한 운영 성과와 증가하는 자본 기반을 보여줌
- 투자 기회 자금 조달을 위한 유연성 향상
Great Elm Capital Corp. (NASDAQ: GECC), une société de développement d'entreprise (Business Development Company), a modifié avec succès sa facilité de crédit renouvelable auprès de City National Bank. L'amendement comprend deux améliorations clés : le doublement de la capacité d'emprunt de $25.0 millions à $50.0 millions (avec possibilité d'augmentation jusqu'à $90.0 millions) et la réduction du taux d'intérêt de SOFR + 3,00% à SOFR + 2,50%.
Le PDG Matt Kaplan a souligné que cette amélioration reflète la croissance de la base de capital et la solide performance opérationnelle de la société depuis la mise en place de la facilité initiale en 2021. Les conditions améliorées devraient réduire les coûts d'emprunt et offrir une plus grande flexibilité pour financer des opportunités d'investissement.
- Capacité d'emprunt doublée : $25M à $50M (possible jusqu'à $90M)
- Taux réduit de 50 points de base à SOFR + 2,50%
- Montre une solide performance opérationnelle et une base de capital en croissance
- Flexibilité accrue pour financer des opportunités d'investissement
Great Elm Capital Corp. (NASDAQ: GECC), ein Business-Development-Unternehmen (Business Development Company), hat seine revolvierende Kreditfazilität mit der City National Bank erfolgreich geändert. Die Änderung umfasst zwei wesentliche Verbesserungen: Verdoppelung der Kreditkapazität von $25,0 Mio. auf $50,0 Mio. (mit möglicher Erhöhung auf $90,0 Mio.) und Senkung des Zinssatzes von SOFR + 3,00% auf SOFR + 2,50%.
CEO Matt Kaplan betonte, dass diese Anpassung die wachsende Kapitalbasis und die starken operativen Leistungen des Unternehmens seit der Einrichtung der ursprünglichen Fazilität im Jahr 2021 widerspiegelt. Die verbesserten Konditionen dürften die Finanzierungskosten senken und mehr Flexibilität bei der Finanzierung von Investitionsmöglichkeiten bieten.
- Kapazität verdoppelt: $25M auf $50M (mit Option auf bis zu $90M)
- Zinssatz um 50 Basispunkte gesenkt auf SOFR + 2,50%
- Belegt starke operative Leistung und wachsende Kapitalbasis
- Mehr Flexibilität zur Finanzierung von Investitionsmöglichkeiten
- None.
- Increased debt exposure through expanded credit facility
- Higher floating rate debt exposure in current interest rate environment
PALM BEACH GARDENS, Fla., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (“we,” “our,” the “Company” or “GECC”) (NASDAQ: GECC), a business development company, today announced it has entered into an amendment to its revolving credit facility (the “Revolving Credit Facility”) with City National Bank (“CNB”) to, among other things, increase the borrowing capacity under the Revolving Credit Facility from
“We are very pleased to announce this amendment to our revolving credit facility with CNB,” said Matt Kaplan, GECC’s Chief Executive Officer. “The increased borrowing capacity is a testament to our growing capital base and strong operational performance since partnering with CNB on the initial
About Great Elm Capital Corp.
GECC is an externally managed business development company that seeks to generate current income and capital appreciation by investing in debt and income generating equity securities, including investments in specialty finance businesses and CLOs. For additional information, please visit http://www.greatelmcc.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements in this communication that are not historical facts are “forward-looking” statements within the meaning of the federal securities laws. These statements include statements regarding our future business plans and expectations. These statements are often, but not always, made through the use of words or phrases such as “expect,” “anticipate,” “should,” “will,” “estimate,” “designed,” “seek,” “continue,” “upside,” “potential” and similar expressions. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. The key factors that could cause actual results to differ materially from those projected in the forward-looking statements include, without limitation: conditions in the credit markets, our expected financings and investments, including interest rate volatility, inflationary pressure, the price of GECC common stock and the performance of GECC’s portfolio and investment manager. Information concerning these and other factors can be found in GECC’s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission. GECC assumes no obligation to, and expressly disclaims any duty to, update any forward-looking statements contained in this communication or to conform prior statements to actual results or revised expectations except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.
This press release does not constitute an offer of any securities for sale.
Media & Investor Contact:
Investor Relations
investorrelations@greatelmcap.com
FAQ
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