Capital Southwest expanded its senior secured credit facility from $270 million to $295 million.

The $25 million increase in total commitments was the result of the addition of a new lender, bringing the total lender group to 10 participants. The increase was executed under the accordion feature of the credit facility, which allows for an increase in total commitments under the facility from new and existing lenders on the same terms and conditions as the existing commitments in an amount up to $350 million.

According to a related 8-K filing, ING Capital served as administrative agent for the facility. Texas Capital Bank was documentation agent, and Mutual of Omaha Bank was a lender.

Michael Sarner, CFO, commented, “We were pleased with the upsize of our credit facility, as it is a testament to our portfolio quality and track record. The substantial availability on our credit facility provides the necessary capital to achieve balance sheet leverage well within our target range of 1-to-1 to 1.2-to-1. We value our relationships with our lenders and are grateful for their continued support.”

Dallas-based Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments.