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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Truist Bank Agents Revolving Credit Facility Upsize to $600MM for Main Street Capital's SPV
Wednesday, October 2, 2024
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Lenders/Participants
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Truist Bank [Administrative Agent, Swing Line Lender]
Citibank [Collateral Agent]
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Structure
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Revolving Credit Facility Expansion, Amendment
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Amount
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$600.000
Million
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Borrower(s)
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Main Street Capital Corporation
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Description
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The recently closed amendment provides an increase in total commitments from $430.0 million to $600.0 million, while maintaining an expanded accordion feature that allows for an increase up to $800.0 million of total commitments from new and existing lenders on the same terms and conditions as the existing commitments. The amendment also extends the revolving period, or reinvestment period, through September 2027 and the final maturity date to September 2029. The amendment also decreases the interest rate during the revolving period to one-month Term SOFR ("SOFR") plus 2.35% (from the prior interest rate of SOFR plus 2.50% plus a 0.10% credit spread adjustment, or SOFR plus 2.60% in total) and during the first and second years after the revolving period to SOFR plus 2.475% and 2.60%, respectively (from the prior interest rate of SOFR plus 2.625% and 2.75%, respectively).
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Industry
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Lender Finance
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Location
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TX
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| Related Tags |
Citibank, Main Street Capital, Truist, Truist Bank
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ABL Advisor
Deal Tables
2025
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