Business Context and Reporting Period
Company: Saratoga Investment Corp.
Filing Type: Form 8-K (Current Report)
Date of Report: February 24, 2012
Event: Entry into a Material Definitive Agreement regarding the amendment of a senior secured revolving credit facility with Madison Capital Funding LLC.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity ratios. It focuses exclusively on debt facility terms.
| Metric | Previous Value | New Value |
|---|---|---|
| Borrowing Capacity | $40 million | $45 million |
| Revolving Period End Date | July 30, 2013 | February 24, 2015 |
| Final Maturity | 5 years after Revolving Period | 5 years after Revolving Period |
Material Changes
- Capacity Increase: The credit facility limit was expanded by $5 million.
- Term Extension: The period available for making and repaying borrowings was extended by approximately 1.5 years.
- Operational Flexibility: The requirement for prior written consent from Madison Capital Funding LLC to acquire additional loan assets was removed.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard terms of the credit agreement. The Revolving Period may be terminated early by the company, the lenders (upon an event of default), or automatically.
Investor Verification Checklist
- Review Exhibit 10.1 (Amendment No. 1 to Credit, Security and Management Agreement) for full legal terms and covenants.
- Verify the current outstanding balance under the facility to assess the utilization of the new $45 million capacity.
- Confirm the interest rate structure and fees associated with the amended facility.
- Check for any existing events of default that could trigger early termination of the extended Revolving Period.