Trinity Capital Inc. Increases its Credit Facility to $510 Million

Rhea-AI Summary

Trinity Capital Inc. (Nasdaq: TRIN) has announced an expansion of its credit facility, increasing total commitments from $440 million to $510 million. This $70 million increase was achieved through the existing accordion feature and was provided by two new lenders, bringing the total number of participants in the diversified bank syndicate to 13. The credit facility, led by KeyBank N.A., now has an accordion feature allowing for maximum commitments of up to $690 million.

This expansion enhances Trinity's capacity as a leading provider of diversified financial solutions to growth-stage companies. The increased credit facility demonstrates Trinity's ability to attract new lenders and expand its financial resources, potentially enabling the company to support more growth-stage businesses with its financial solutions.

Positive

• Credit facility increased by $70 million to $510 million total commitments
• Two new lenders added to the bank syndicate, now totaling 13 participants
• Accordion feature allows for further expansion up to $690 million

Negative

• None.

PHOENIX, Sept. 19, 2024 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced an increase to $510 million of total commitments under its credit facility led by KeyBank N.A.

The credit facility was expanded under the existing accordion feature by $70 million, bringing total commitments from $440 million to $510 million. The $70 million increase was provided by two new lenders, bringing the diversified bank syndicate to 13 participants. The existing credit facility accordion feature allows for maximum commitments of up to $690 million.

About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.

Contact
Ben Malcolmson
Head of Investor Relations
Trinity Capital Inc.
ir@trincapinvestment.com

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SOURCE Trinity Capital Inc.

FAQ

What is the new total commitment under Trinity Capital's (TRIN) credit facility?

Trinity Capital Inc. (TRIN) has increased its credit facility to $510 million in total commitments.

How much did Trinity Capital (TRIN) expand its credit facility by in September 2024?

Trinity Capital (TRIN) expanded its credit facility by $70 million, increasing it from $440 million to $510 million.

How many lenders are now in Trinity Capital's (TRIN) bank syndicate after the credit facility expansion?

After the credit facility expansion, Trinity Capital's (TRIN) bank syndicate now includes 13 participants, with two new lenders added.

What is the maximum commitment possible under Trinity Capital's (TRIN) credit facility accordion feature?

The accordion feature of Trinity Capital's (TRIN) credit facility allows for maximum commitments of up to $690 million.