AFC Expands Revolving Credit Facility to $80M with $30M New Commitment
AFC expanded its revolving credit facility by $30 million to $80 million, with an additional commitment from its FDIC-insured lead arranger holding over $75 billion in assets. The facility, expandable to $100 million, will fund existing borrower commitments, originate lower middle-market commercial loans and support corporate purposes.
1. Facility Expansion
AFC expanded its revolving credit facility by $30 million to $80 million through its FDIC-insured lead arranger, boosting available liquidity. This increase reflects confidence from a banking partner overseeing over $75 billion in assets.
2. Use of Proceeds
Proceeds from the expanded facility will support existing borrower commitments and the origination and participation in senior secured commercial loans targeting U.S. lower middle-market companies with EBITDA between $5 million and $50 million. Funds may also cover working capital needs and general corporate purposes.
3. Terms and Outlook
The credit facility remains a senior secured revolving structure with borrowing base limitations, and holds an expansion option to $100 million pending additional lender participation. This flexibility positions AFC to scale lending operations in line with its opportunistic investment strategy.