Jefferson Capital announces amendment, upsize of revolving credit facility

Jefferson Capital (JCAP) amended and extended its senior secured revolving credit facility via a syndication led by Citizens Bank. Key components of the amendment include, among other items: An increase of the aggregate committed capital by $175,000,000 to $1,000,000,000; A reduction of the interest rate margins applicable to loans outstanding under the credit facility by fifty basis points; A reduction of the non-use fee rate for unutilized commitments under the credit facility by five basis points and a reduction of the maximum applicable non-use fee rate for unutilized commitments to thirty-five basis points; Elimination of any credit spread adjustments from the calculation of the interest rate applicable to loans outstanding under the credit facility; Extension of the maturity of the credit facility to October 27, 2030, subject to such maturity being reduced to 91 days in advance of the earliest final scheduled maturity date of either the 9.500% Senior Notes due February 15, 2029 or the 8.250% Senior Notes due May 15, 2030, in each case issued by Jefferson Capital Holdings; Removal of the existing financial covenant requiring a minimum tangible net worth of certain subsidiaries; Customary changes to reflect the status of Jefferson Capital as a public company