Brief: KCAP Financial reports formation of investment JV with Freedom 3

BCP Investment

20/07/2017 13:03

July 20 (Reuters) - KCAP Financial Inc  KCAP.O : 
    * KCAP Financial, Inc announces formation of investment 
joint venture with Freedom 3 and redemption of approximately 
$148 million of debt 
    * KCAP Financial- co and Freedom 3 Opportunities Llc 
contributed approximately $35 million and $25 million, 
respectively, in assets to KCAP-F3 joint venture 
    * KCAP Financial Inc - has formed a joint venture with 
Freedom 3 Opportunities Llc, an affiliate of Freedom 3 Capital 
Llc, to create KCAP Freedom 3 Llc 
    * KCAP Financial Inc - fund used cash on hand and borrowings 
under a credit facility to purchase approximately $183 million 
of loans from company 
    * KCAP Financial Inc - company used cash from the sale to 
redeem approximately $148 million in debt 
    * KCAP Financial Inc - KCAP-F3 joint venture may originate 
loans from time to time and sell them to fund 
    * KCAP Financial Inc - joint venture agreement will allow 
company to invest in senior middle-market loans 
 
Source text for Eikon:  ID:nGNXOAEZZa  
Further company coverage:  KCAP.O  
 
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