Jernigan Capital Upsizes Credit Facility to $235 Million, Extends Maturity and Adds Banks
JERNIGAN CAPITAL INC (JCAP)
Last jernigan capital inc earnings: 2/26 04:05 pm
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Source: Business Wire
-Provides Capital to Fund the Company’s Current Development Pipeline and Developer Buy-Outs- MEMPHIS, Tenn.--(BUSINESS WIRE)-- Jernigan Capital, Inc. (NYSE: JCAP) (the “Company”) announced that on December 28, 2018, it entered into an amended and restated senior secured revolving credit facility of up to $235 million with a syndicate of banks led by KeyBank National Association, Raymond James Bank, N.A., and BMO Harris Bank N.A. The $235 million credit facility, which has an accordion feature permitting expansion up to $400 million, subject to certain conditions including obtaining additional commitments from lenders, has a three-year term that expires December 28, 2021 and two one-year extension options to extend the maturity of the facility to December 28, 2023. The amended credit facility more than doubles the Company’s access to committed credit, from $100 million to $235 million, increases the accor
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