Hercules Capital Strengthens Its Capital Resources with New $400.0 Million Credit Facility to Support Continued Investment Portfolio Growth

PALO ALTO, Calif.--(BUSINESS WIRE)--Hercules Capital, Inc. (NYSE: HTGC) (“Hercules” or the “Company”) the largest and leading specialty finance provider to innovative, venture, growth and established stage companies backed by some of the leading and top-tier venture capital and select private equity firms, today announced that effective February 20, 2020, it has replaced its existing $200.0 million credit facility with MUFG Union Bank N.A. (“MUFG”) with a new credit facility under which Royal Bank of Canada /City National Bank, a National Banking Association, Goldman Sachs Bank USA, Umpqua Bank, TIAA, FSB, Zions Bancorporation, N.A., dba California Bank & Trust, HSBC Bank USA, N.A., Hitachi Capital America Corporation and CIT Bank, N.A., together with MUFG, have committed a total of $400.0 million in credit capacity subject to borrowing base, leverage and other restrictions. The new credit facility also includes an uncommitted accordion feature of $200.0 million. The interest rate applicable to borrowings under the new credit facility has been reduced to LIBOR plus 2.50% and the advance rate under the new credit facility has been increased to a maximum of 65% against eligible loans. The new credit facility matures in February 2023, plus a 12-month amortization period.