Silvercrest Asset Management Group Inc. has announced the entry into a significant amendment and restatement agreement with City National Bank, enhancing their credit facility. Under the new agreement, the term loan maturity date has been extended to June 18, 2028, with the possibility of two one-year extensions, potentially reaching June 18, 2030, subject to certain conditions. Additionally, the revolving credit facility's maturity date has been extended to June 18, 2026, and the term loan draw date is now set to terminate on June 18, 2026. The arrangement includes a $10 million term loan commitment and a $10 million revolving credit facility. Furthermore, the fee structure has been revised to incorporate additional annual payments, demonstrating Silvercrest's proactive approach in managing its financial obligations and strategic growth initiatives.
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