Main Street Capital Increases Commitments Under Credit Facility
Main Street Capital Corporation announced the expansion of total commitments under its three-year credit facility from $277.5 million to $287.5 million. The $10 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 nine participants.
The recent increase in total commitments was executed under the accordion feature of the credit facility, which allows Main Street to increase the total commitments under the facility up to $350 million from new or 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 $89 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.