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Get filing alertsSaratoga Investment Corp. amends Valley Credit Facility, boosting borrowing capacity to $110M
Filed October 9, 2026 · Period ending October 8, 2026 · ~1 min read
Key Changes
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high
Borrowing capacity under the Valley Credit Facility increases from $85.0 million to $110.0 million.
Item 1.01 verify on EDGAR → -
medium
Commitment increase option during first two years rises from $100.0 million to $135.0 million.
Item 1.01 verify on EDGAR → -
medium
Advance rate on unitranche loans capped at 70%.
Item 1.01 verify on EDGAR → -
medium
Healthcare industry concentration limit raised from 25.0% to 35.0% of Aggregate ECA Value.
Item 1.01 verify on EDGAR → -
medium
Top three obligors concentration limit increased from 30.0% to 35.0% of Aggregate ECA Value.
Item 1.01 verify on EDGAR →
Summary
Saratoga Investment Corp. amended its Valley Credit Facility, increasing total borrowing capacity from $85.0 million to $110.0 million. The amendment also expands the option to request additional commitments during the first two years from $100.0 million to $135.0 million, subject to terms and conditions. These changes provide the company with greater flexibility to fund investments.
The amendment adjusts concentration limits: the healthcare industry cap rises from 25.0% to 35.0% of Aggregate ECA Value, and the limit for the three largest obligors increases from 30.0% to 35.0%. Additionally, the advance rate on unitranche loans is capped at 70%. These modifications allow for a more diversified portfolio while maintaining certain risk controls.
For retail investors, the increased borrowing capacity and relaxed concentration limits suggest the company is positioning for growth, though the higher limits also imply greater exposure to specific sectors and obligors. The filing does not indicate any immediate concerns, and the changes appear to be part of normal business operations.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
Item 2.03 also reports this as a direct financial obligation (body incorporates the primary Item by reference).
Added in current filing · verify on EDGAR →
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
The company also filed this under Item 2.03, which means it is reporting the arrangement as a direct financial obligation. The Item 2.03 text refers back to the Item 1.01 entry for the terms rather than restating them.
Event · Item 1.01 — Entry into a Material Definitive Agreement
Saratoga Investment Corp. amended its Valley Credit Facility, increasing borrowing capacity and adjusting concentration limits.
Added in current filing · verify on EDGAR →
provides that the Advance Rate (as defined in the Credit Agreement) with respect to Unitranche Loans (as defined in the Credit Agreement) will not exceed 70%
The amendment caps the advance rate for unitranche loans at 70%, which affects how much the company can borrow against those loans as collateral.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 13, 2026 · How we verify