Guggenheim (GBAB) enters $100 million BofA credit facility, ends SocGen facility
On October 11, 2024, the Trust entered a margin loan agreement with Bank of America, N.A. allowing borrowing of up to $100 million, subject to a borrowing base. The Trust also notified Société Générale that it will terminate its existing SocGen credit facility in full on November 20, 2024, and it will not borrow under the BofA facility until the SocGen facility is terminated. The filing bears on shareholders because it sets new borrowing terms and costs for the Trust.
Key points
- Borrowing limit of up to $100 million under the BofA facility, subject to a borrowing base and Investment Company Act limits
- Drawn amounts bear interest at daily SOFR plus 85 basis points; a 0.20% per annum fee applies to daily undrawn amounts, payable monthly
- SocGen credit facility to be terminated in full on November 20, 2024, with the termination linked to the new BofA facility
- Facility is secured by a perfected first-priority interest in certain Trust assets held in a segregated account; mandatory prepayments may apply on certain events
The filing
Written by AI on Nov 9, 2026, 10:08 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 16, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.