Item 1.01. Entry into a Material Definitive Agreement.
On June 26, 2020, Fidus Investment Corporation (the "Company") entered into an
amendment (the "Amendment") to its existing Amended & Restated Senior Secured
Revolving Credit Agreement dated as of April 24, 2019 (the "Credit Facility";
the Credit Facility, as amended by the Amendment, the "Amended Credit
Facility"), among the Company, as borrower, the lenders party thereto, and ING
Capital LLC, as administrative agent.
The Amendment to the Credit Facility modifies certain covenants in the Credit
Facility, including to amend the minimum consolidated interest coverage ratio to
be 2.25 to 1.00 for the four quarter period ending on June 30, 2020, 2.00 to
1.00 for the four quarter periods ending on each of September 30, 2020 and
December 31, 2020, and 1.75 to 1.00 for each four quarter period ending at the
end of each quarter thereafter. In addition, the Amendment provides for
inclusion of LTV Transactions (as defined in the Amendment) in the borrowing
base subject to certain restrictions as defined in the Amendment.
In conjunction with the execution of the Amended Credit Facility, Fidus
Mezzanine Capital, L.P. and Fidus Capital GP, LLC, each a direct or indirect
wholly-owned subsidiary of the Company, became additional subsidiary guarantors
of the obligations under the Amended Credit Facility.
ING Capital LLC and the other lenders under the Amended Credit Facility, and
their respective affiliates, may from time to time receive customary fees and
expenses in the performance of investment banking, financial advisory or other
services for the Company.
The description of the Amendment above is not complete and is qualified in its
entirety by reference to the full text of the Amendment attached hereto as
Exhibit 10.1.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is
incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Description
10.1 Amendment No. 1 to Amended & Restated Senior Secured Revolving
Credit Agreement, dated as of June 26, 2020, by and among the
Company, as borrower, the subsidiary guarantors party thereto, ING
Capital LLC, as administrative agent, and the lenders party thereto.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses