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BRIEF-KCAP Financial reports formation of investment JV with Freedom 3
July 20, 2017 / 12:14 PM / 2 months ago

BRIEF-KCAP Financial reports formation of investment JV with Freedom 3

July 20 (Reuters) - KCAP Financial Inc:

* 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: Further company coverage:

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