KeyBank Specialty Finance, CIBC Bank USA and other lenders increased the aggregate commitments on Runway Growth Finance’s existing revolving credit facility to $500 million.

Borrowings under the credit facility bear interest on a per annum basis equal to the adjusted term Secured Overnight Financing Rate (SOFR) plus an applicable margin rate that ranges from 2.95% to 3.35% per annum depending on Runway Growth Finance’s leverage ratio and number of eligible loans in its collateral pool. The lending syndicate is comprised of KeyBank and CIBC Bank USA as co-lead arrangers and includes MUFG Union Bank and U.S. Bank. The maturity date under the credit facility is April 20, 2026.

“We are pleased with the ongoing support from our lending partners, which enhances Runway’s balance sheet to capitalize on robust demand for creative financing solutions,” Tom Raterman, CFO and COO of Runway Growth Finance, said. “This credit facility expansion strengthens our liquidity, and strategically positions Runway to navigate any environment that lies ahead. With more than $200 million of available liquidity, our team remains focused on disciplined execution while deploying capital at favorable terms.”

“KeyBank is proud to have led the revolving credit facility for Runway Growth given its reputation as a trusted partner in the venture debt market,” Rian Emmett, group head of KeyBank Specialty Finance Lending, said. “We look forward to the continued partnership with management as they execute against their mission to support passionate entrepreneurs in building great businesses.”