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 Capital amended its credit facility with BB&T, which included a reduction in the commitment amount from $100 million to $50 million.
MVC Capital entered into a $50 million revolving borrowing base credit facility with Santander Bank as a lender and lead agent and Wintrust Bank as a lender and syndication agent.
MVC Capital announced it invested approximately $40 million in four collateralized senior subordinated loans with a weighted average interest rate of 15.1%.
MVC Capital announced the addition of four debt investment professionals from Fifth Third Bancorp’s Mezzanine Finance Group to accelerate MVC’s portfolio transformation to yielding investments.
MVC Capital announced the completion of a second lien term loan of $10 million to G3K Displays, which carries a cash interest rate of 13% and includes warrants.
MVC Capital announced the completion of a $10 million second lien term loan to LegalShield. The loan is part of a $175 million syndicated second line term loan arranged by Morgan Stanley Senior Funding and RBC Capital Markets.
MVC Capital announced that it has appointed Scott J. Schuenke to the role of chief financial officer. Schuenke succeeds current CFO, Peter Seidenberg.