Main Street Adds New Lender, Increases Credit Facility
Main Street Capital announced the expansion of total commitments under its five-year credit facility from $372.5 million to $382.5 million.
Main Street said the $10.0 million increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the firm’s lending group under the credit facility to a total of eleven participants.
The recent increase in total commitments was executed under the accordion feature of the credit facility which allows for an increase in total commitments under the facility up to $425.0 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 said it currently has $187.0 million of outstanding debt under the credit facility.