Hamilton Lane INC — Form 10-Q
Filed August 4, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
Hamilton Lane Advisors (HLANE) executed sixth amendment to $95M term loan facility (Facility I) and fifth amendment to revolving credit facility (Facility II, up to $50M) with JPMorgan Chase Bank, both effective April 29, 2026. Key changes include: Facility I maturity extended to July 1, 2029; Facility II revolving maturity moved to October 16, 2027 with option for annual 365-day extensions at 15 bps fee; unsecured guaranty capacity increased from $25M to $70M for international partner-loan-program borrowers; and covenants maintained (minimum $185M semi-annual management fees, 75% of Adjusted EBITDA threshold, 70% tangible net worth floor). No material financial covenants were relaxed.
Why this rating
Routine amendment to existing facilities. No new money, no covenant easing, no event of default. Terms normalized post-First Republic acquisition by JPM. Minor relative to $5.5B market cap.
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