In a significant move, WhiteHorse Finance , Inc. has amended the terms of its loan agreement, leading to changes in interest rates, non-call periods, reinvestment periods, and the scheduled termination date. This was disclosed in a recent 8-K filing with the Securities and Exchange Commission. According to InvestingPro data, WhiteHorse Finance maintains a notable 17.78% dividend yield and has consistently paid dividends for 13 consecutive years, though its current ratio of 0.87 indicates some pressure on short-term liquidity.
On January 17, 2025, WhiteHorse Finance Credit I, LLC, a wholly owned subsidiary of WhiteHorse Finance, Inc., entered into a Tenth Amendment with JPMorgan Chase (NYSE:JPM) Bank, National Association, and other parties involved. The amendment altered the Fifth Amended and Restated Loan Agreement from April 28, 2021.
Key changes include a reduction of the applicable margins for interest rates to 2.25%, an extension of the non-call period from November 22, 2024, to January 17, 2027, and an extension of the reinvestment period from January 22, 2025, to January 17, 2028. Furthermore, the scheduled termination date has been extended from November 22, 2025, to January 17, 2030.
The company's actions reflect strategic financial management, aiming to improve terms and provide greater flexibility for its financial operations. These amendments may influence the company's financial strategy and its ability to manage capital.
Investors and interested parties can refer to the full Tenth Amendment attached to the 8-K filing for a detailed understanding of the changes. The information provided in this article is based on the press release statement filed with the SEC.
WhiteHorse Finance, listed on the Nasdaq Global Select Market under the ticker (NASDAQ:WHF), is a business development company that provides debt financing to privately held, small-cap companies. With a market capitalization of $232.9 million, the company's stock currently trades at $10.04, showing a year-to-date return of 3.72%. The company's portfolio includes a diverse range of sectors, such as information technology, healthcare, and manufacturing. For deeper insights into WHF's valuation and financial health metrics, investors can access the comprehensive Pro Research Report available on InvestingPro, which offers detailed analysis of this dividend-paying stock along with additional ProTips.
The forward-looking statements contained in the 8-K report are subject to various risks and uncertainties, and actual results may differ materially. The company has stated it does not intend to update any forward-looking statements. With a beta of 1.31 and revenue of $97.44 million in the last twelve months, investors seeking detailed financial analysis and real-time updates can explore additional metrics and expert insights through InvestingPro's comprehensive coverage of WHF and over 1,400 other US stocks.
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