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BRIEF-Stonecastle Financial Corp announces amended and improved credit facility with TEXAS CAPITAL BANK
May 25, 2017 / 12:55 PM / 4 months ago

BRIEF-Stonecastle Financial Corp announces amended and improved credit facility with TEXAS CAPITAL BANK

May 25 (Reuters) - Stonecastle Financial Corp

* Stonecastle Financial Corp announces amended and improved credit facility with Texas Capital Bank and newly assigned investment grade corporate issuer rating of “A+” from Kroll Bond Rating Agency

* Amended changes to terms includes maturity date of facility extended for a full five years to May 16, 2022

* Cost of facility has decreased to a significantly lower credit spread of LIBOR +2.35%, down from LIBOR +2.85%

* Under amendments, $3.5 million account is no longer required

* Stonecastle Financial Corp says amended changes size of facility from $70 million to $62 million Source text for Eikon: Further company coverage:

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