Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust has entered a Margin Loan and Security Agreement with Bank of America, N.A. allowing the Trust to borrow up to $100 million, secured by assets held at The Bank of New York Mellon Corp., its custodian. The credit facility's terms include an adjustable borrowing base, potential increase or decrease of borrowings, an interest rate of SOFR plus 85 basis points, and a 0.20% fee on undrawn amounts. The agreement contains customary representations, covenants, and default events. Additionally, the Trust has notified Société Générale of its intent to terminate their existing Credit Agreement by November 20, 2024, coinciding with the new credit facility establishment.
Names Mentioned: - Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) - Bank of America, N.A. (BofA) - The Bank of New York Mellon Corp. (Custodian) - Société Générale (SocGen) - Mark E. Mathiasen (Secretary of GBAB)