The Fund announced today that it has entered into a $100 million unsecured revolving credit facility with a syndicate of lenders. The Credit Facility matures on February 8, 2021. The
Credit Facility replaces the Fund’s $100 million unsecured revolving credit facility that was scheduled to
mature on February 7, 2020.
The interest rate on outstanding borrowings under the Credit Facility may vary between LIBOR plus
1.30% and LIBOR plus 1.95%, depending on the Fund’s asset coverage ratios. Based on the Fund’s
current asset coverage ratios, the interest rate would be equal to the one-month LIBOR plus 1.30%.
The Fund will pay a commitment fee of 0.20% per annum on any unused amounts of the Credit Facility.
As of February 7, 2020, the Fund had no borrowings outstanding under the Credit Facility. As of 2020-02-06, the Fund’s leverage was 32.1% and MLP Funds Group leverage was 30.6%.