Item 1.01 Entry into a Material Definitive Agreement.
On
The terms and conditions of the Amended and Restated Facility are substantially
the same as those in the prior facility. The pricing remains unchanged under the
Amended & Restated Facility. The Amended & Restated Facility includes an
"accordion" feature that allows the Company to increase the size of the
Amended & Restated Facility to
Under the Amended & Restated Facility, the Company has made certain representations and warranties and is still required to comply with various covenants, reporting requirements and other customary requirements for similar revolving credit facilities. The Amended & Restated Facility continues to include usual and customary events of default for senior secured revolving credit facilities of this type.
Borrowings under the Amended & Restated Facility (and the incurrence of certain other permitted debt) continue to be subject to compliance with a Borrowing Base that applies different advance rates to different types of assets in the Company's portfolio. The advance rate applicable to any specific type of asset in the Company's portfolio depends on the relevant asset coverage ratio as of the date of determination. Borrowings under the Amended & Restated Facility continue to be subject to the leverage restrictions contained in the Investment Company Act of 1940, as amended.
Terms used in the foregoing paragraphs have the meanings set forth in the Amended & Restated Facility. The description above is only a summary of the material provisions of the Amended & Restated Facility and does not purport to be complete and is qualified in its entirety by reference to the provisions in such Amended & Restated Facility, which is attached hereto as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 10.1 Amended and Restated Senior Secured Revolving Credit Agreement, dated as ofDecember 22, 2020 , betweenApollo Investment Corporation , the lenders party thereto, andJPMorgan Chase Bank, N.A ., as Administrative Agent 99.1 Press Release, datedDecember 23, 2020 2
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