Hercules Capital Renews and Increases Its Credit Facility with MUFG Bank, Ltd. to $440.0 Million
Hercules Capital, Inc. (NYSE:HTGC) ("Hercules" or the "Company"), the largest and leading specialty finance provider to innovative venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that it has upsized and renewed its existing $400.0 million credit facility with MUFG Bank, Ltd. ("MUFG") with an upsized credit facility under which Goldman Sachs Bank USA, Autobahn Funding Company LLC, City National Bank, a National Banking Association, Umpqua Bank, Valley National Bank, Citizens Bank, N.A., Zions Bancorporation, N.A., dba California Bank & Trust and Mitsubishi HC Capital America, Inc. together with MUFG, have committed a total of $440.0 million in credit capacity subject to borrowing base, leverage and other restrictions. The upsized and renewed credit facility continues to include an uncommitted accordion feature expandable up to $600.0 million. The renewed credit facility matures in June 2029.
"The renewal and increase of our credit facility with MUFG will further support the growth of our business and allow us to take advantage of our current and future market opportunities," said Seth Meyer, chief financial officer of Hercules. "We welcome the new lenders to the group and thank our existing bank partners for their support of our industry-leading franchise and look forward to continuing our long-term relationship."
For additional information, please review the Company's current report on Form 8-K, to be filed with the Securities and Exchange Commission ("SEC").
About Hercules Capital, Inc.
Hercules Capital, Inc. (NYSE:HTGC) is the leading and largest specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broad variety of technology and life sciences industries. Since inception (December 2003), Hercules has committed more than $22 billion to over 680 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing. Companies interested in learning more about financing opportunities should contact [email protected], or call (650) 289-3060.
Hercules, through its wholly owned subsidiary business, Hercules Adviser LLC (the "Adviser Subsidiary"), also maintains an asset management business through which it manages investments for external parties ("Adviser Funds"). The Adviser Subsidiary is registered as an investment adviser under the Investment Advisers Act of 1940.
Hercules' common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol "HTGC." In addition, Hercules has one retail bond issuance of 6.25% Notes due 2033 (NYSE:HCXY).
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We may use words such as "anticipates," "believes," "expects," "intends," "will," "should," "may" and similar expressions to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and should not be relied upon in making any investment decision. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. While we cannot identify all such risks and uncertainties, we urge you to read the risks discussed in our Annual Report on Form 10-K and other materials that we publicly file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are made only as of the date hereof. Hercules assumes no obligation to update any such statements in the future.
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Michael Hara
Investor Relations and Corporate Communications
Hercules Capital, Inc.
(650) 433-5578
[email protected]