ING Capital and Capital Southwest Corporation closed a four-year, $100 million revolving credit facility with a maturity date of August 30, 2016.
The facility will bear interest at LIBOR+3.25% and has an accordion feature that allows for its expansion of up to $150 million.
“We are excited to announce the closing of this credit facility and the beginning of what we believe will be a long partnership with ING and the full bank syndicate,” said Capital Southwest CFO Michael S. Sarner, chief financial officer of Capital Southwest. “This facility provides significant capitalization with which to execute our business plan, providing flexible financing for both our Upper Middle Market and Lower Middle Market businesses.”
Capital Southwest is a Dallas-based Business Development Company that specializes in middle market lending.