Daily News: July 31, 2019

People’s United Leads Expansion of MVC Capital Facility to $50MM


People’s United Bank’s Commercial Banking division served as lead arranger on the expansion of MVC Capital’s credit facility to $50 million.

MVC provides long-term debt and equity investment capital to fund acquisitions, growth and recapitalizations of companies in a variety of industries. People’s United’s Asset-Based Lending (ABL) and Capital Markets teams partnered on the facility that will provide MVC with working capital for future acquisitions and investments.

“We are excited to develop a new partnership with the MVC management team to provide an Asset-Based Lending facility as well as other bank products to support the company’s near and long-term growth initiatives,” said Kate Lepak, SVP, Asset Based Lending, People’s United Bank.

“Partnering with our Capital Markets team allowed us to successfully expand the credit facility to facilitate MVC’s anticipated growth.”

“As the needs of our business has transitioned, People’s United has proven to be a reliable partner who is committed to understanding our evolving capital needs, and more importantly, how they can help us achieve our strategic growth objectives,” said Scott J. Schuenke, CFO, MVC Capital.