Payments

Keybank expands Trinity Capital's credit facility

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August 16, 2024

Keybank amended the credit facility for Trinity Capital Inc., a financial solutions company from $350 million to $440 million in commitments. It also increased the group of lenders to 11 banks, according to a press release.

With this amendment, Trinity can offer advance rates of up to 62% on first-lien loans and up to 42% on second lien-loans.

"The expansion of our credit facility will further support the growth of our business and allow us to take advantage of our current and future market opportunities," Kyle Brown, CEO of Trinity Capital, said in the release. "We are very pleased that we were able to continue to diversify our lender group and significantly expand the commitments under our credit facility. We welcome the new partners and thank our existing banks for their continued confidence in the Trinity platform."

"Proceeds from our recent 5-year 7.875% investment grade notes totaling $115.0 million, including the fully executed overallotment, combined with our access to capital through our accretive ATM program, and now our expanded credit facility with KeyBank, enhance our liquidity position and strengthen our balance sheet, allowing us to further execute on our business strategy and pursue the growth of our investment portfolio," Michael Testa, CFO of Trinity Capital, said in the release.