LAFAYETTE SQUARE ANNOUNCES IMPACT-FOCUSED CREDIT FACILITY WITH SUMITOMO MITSUI BANKING CORPORATION
Lafayette Square, an impact investment platform, announced that its affiliates have entered a new credit facility with Sumitomo Mitsui Banking Corporation (“SMBC”), one of the largest global financial firms. The facility will be used to support Lafayette Square’s regionally focused middle market lending activities, consistent with its mission to achieve impact in local communities. The credit facility will initially provide the Lafayette Square affiliates with the ability to borrow up to $10.6 million based upon unused capital commitments from their investors and is expected to grow through an uncommitted accordion feature expandable up to $1 billion. The annual interest rate applicable to borrowings under the facility will be based on a range of alternative rates, including applicable SOFR plus a margin of 1.8%, and the facility matures in January 2024.