BB&T Agents Main Street Capital Facility Increase
Main Street Capital announced the amendment of its five-year credit facility to expand the total commitments under the credit facility from $445 million to $502.5 million.
According to an 8-K filing, BB&T served as administrative agent. BB&T, Regions Bank, Frost Bank, Amegy Bank, Capital One, Texas Capital Bank, Cadence Bank, Goldman Sachs Bank USA, Royal Bank of Canada, Comerica Bank, Patriot Bank, Trustmark National Bank, Raymond James Bank and First Financial Bank served as lenders.
The $57.5 million increase in total commitments was the result of commitment increases by five existing lenders in the facility and the addition of a new lender relationship, which further diversifies the Main Street lending group under the credit facility to a total of fourteen participants. The amended credit facility also contains an upsized accordion feature that allows for an increase in total commitments under the facility to up to $600 million of total commitments from new and existing lenders on the same terms and conditions as the existing commitments.
The recent increase in total commitments under the credit facility provides Main Street with access to additional financing capacity in support of its future investment and operational activities. Main Street currently has $253 million of outstanding debt under the credit facility.
Main Street is a principal investment firm that provides long-term debt and equity capital to lower middle-market companies and debt capital to middle-market companies.