Main Street Capital expanded the total commitments under its revolving credit facility from $655 million to $680 million. The $25 million increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the credit facility to a total of 17 participants.
According to a related 8-K filing, BB&T served as administrative agent for the facility. Frost Bank, Royal Bank of Canada, Hancock Whitney Bank, ZB d/b/a Amegy Bank, Texas Capital Bank, Cadence Bank, Trustmark National Bank, Comerica Bank, Raymond James Bank, BOKF d/b/a Bank of Texas, Woodforest National Bank, City National Bank, First Financial Bank, Veritex Community Bank, First National Bank of Pennsylvania and Goldman Sachs Bank formed the lender group.
The increase in total commitments was executed under the accordion feature of the credit facility, which allows for an increase up to $800 million in total commitments on the same terms and conditions as the existing commitments. The recent increase in total commitments will provide Main Street with access to additional financing capacity in support of its future investment and operational activities.
Main Street is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies.