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Goldman Sachs BDC amends revolving to reduce asset coverage requirement

Published 09/17/2018, 05:06 PM
Updated 09/17/2018, 05:06 PM
© Reuters.  Goldman Sachs BDC amends revolving to reduce asset coverage requirement
  • Goldman Sachs (NYSE:GS) BDC (NYSE:GSBD) amends its senior secured revolving credit agreement to reduce the company's minimum asset coverage ratio financial covenant to 150% from 200%.
  • There was no fee or change in borrowing cost under the facility in connection with the amendment.
  • The amendment follows the passage of the Small Business Credit Availability Act in March 2018, which seeks to increase the availability of funding to middle market U.S. companies by increasing capital available to business development companies such as GSBD.
  • Previously: Goldman Sachs BDC beats by $0.03, beats on total investment income (Aug. 2)
  • Now read: Goldman Sachs BDC: Strong Buy


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