According to an 8K filed with the SEC, Truist Bank is serving as administrative agent for an amendment to Main Street Capital’s revolving credit facility. The amendment provides an extension of the final maturity to April 2026 and increases the total commitments of the credit facility from $780 million to $855 million while maintaining an expanded accordion feature that allows for an increase up to $1.2 billion of total commitments from new and existing lenders on the same terms and conditions as the existing commitments.
The interest rate for outstanding borrowings under the credit facility remains unchanged at the applicable LIBOR rate plus 1.875% so long as Main Street satisfies certain agreed upon excess collateral and leverage requirements, consistent with the historical requirements under the credit facility. In addition to the extended maturity and increased commitments, Main Street continues to maintain two one-year extension options under the amended credit facility, which could extend the final maturity of the credit facility for up to two additional years, subject to certain conditions, including lender approval.
Main Street Capital is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies.
