TriplePoint Venture Growth BDC Corp. Renews Revolving Credit Facility
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 07 2024
0mins
Source: Businesswire
Credit Facility Amendment: TriplePoint Venture Growth BDC Corp. has amended its revolving credit facility, extending the revolving period to November 30, 2025, and the maturity date to May 30, 2027, while reducing total commitments to $300 million but maintaining an option to increase it to $400 million.
Company Overview: TriplePoint Venture Growth BDC Corp. specializes in providing customized debt financing and equity investments to venture growth stage companies in technology and high-growth sectors, backed by a select group of venture capital firms.
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Analyst Views on TPVG
Wall Street analysts forecast TPVG stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TPVG is 6.06 USD with a low forecast of 5.50 USD and a high forecast of 7.25 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
0 Buy
3 Hold
1 Sell
Hold
Current: 6.200
Low
5.50
Averages
6.06
High
7.25
Current: 6.200
Low
5.50
Averages
6.06
High
7.25
About TPVG
TriplePoint Venture Growth BDC Corp. is an externally managed, closed-end, non-diversified management investment company that operates as a business development company. It is focused on providing customized debt financing with warrants and direct equity investments to venture growth stage companies in technology and other high-growth industries backed by a select group of venture capital firms. Its investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation by lending, typically with warrants, primarily to venture growth stage companies focused on technology and other high-growth industries backed by TriplePoint Capital LLC (TPC) a select group of venture capital investors. TPC is a Sand Hill Road-based global investment platform, which provides customized debt financing, leasing, direct equity investments and other complementary solutions. Its investment adviser is TriplePoint Advisers LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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TriplePoint Venture Growth BDC Reveals Changes to Its Revolving Credit Facility
Credit Facility Amendment: TriplePoint Venture Growth BDC announced an amendment to its revolving credit facility, extending the revolving period to November 30, 2027, and the maturity date to May 30, 2029.
Improved Terms: The amendment includes a reduced spread on borrowings and higher advance rates on assets pledged to the borrowing base, enhancing the company's financial flexibility.
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