Main Street Capital Adds Lender, Increases Facility
Main Street Capital announced the expansion of total commitments under its five-year credit facility from $352.5 million to $372.5 million. The $20 million increase in total commitments was the result of the addition of one new lender relationship, which further diversifies the Main Street lending group to a total of ten 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 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 $168 million of outstanding debt under the credit facility.
Previously on abfjournal.com:
BB&T Agents Main Street Capital Facility Increase, Thursday, May 09, 2013