Trinity Capital Increases Its Capital Resources with a $300 Million Credit Facility to Support Continued Investment in Portfolio Growth
PHOENIX--(BUSINESS WIRE)--Trinity Capital Inc. (“Trinity” or the “Company”), a leading specialty lending company that provides debt and equipment lease financing to growth stage companies backed by technology banks, venture capital and private equity firms, today announced that effective January 16, 2020, it became a party to a $300.0 million credit facility (the “Credit Facility”) with affiliates of Credit Suisse AG. The Credit Facility is scheduled to mature on January 8, 2022, unless extended. As of February 17, 2020, the Company had $160 million in borrowings outstanding under the Credit Facility.
“We’re excited to finalize this very important part of our capitalization, adding to the equity and unsecured debt raise we recently announced,” said Steve Brown, Chairman and CEO of Trinity. “We believe this credit facility will allow us to continue to grow as we scale our lending and equipment lease financing platform.”
For additional information, please review the Company’s registration statement on Form 10 filed with the Securities and Exchange Commission on January 16, 2020, which includes the completed transaction documents.
About Trinity Capital Inc.
Trinity, an internally managed specialty lending company that has elected to be regulated as a BDC under the Investment Company Act of 1940, is a leading provider of debt and equipment lease financing to growth stage companies, including venture-backed companies and companies with institutional equity investors. Trinity’s investment objective is to generate current income and, to a lesser extent, capital appreciation through investments consisting primarily of term debt and equipment lease financings and, to a lesser extent, working capital loans, equity and equity-related investments. Trinity believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience, and track record in lending to growth stage companies. For more information, please visit https://trincapinvestment.com/.
Certain information contained herein may constitute “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about Trinity, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond Trinity’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in Trinity’s filings with the Securities and Exchange Commission. Investors should not place undue reliance on these forward-looking statements, which apply only as of the date on which Trinity makes them. Trinity does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.
Vibhor Garg, Director, Marketing