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Main Street Increases Credit Facility Commitments to $572.5MM

December 12, 2014, 07:28 AM
Filed Under: Investment Financing

Main Street Capital Corporation announced the expansion of total commitments under its five-year credit facility (the "Credit Facility") from $522.5 million to $572.5 million.  The $50.0 million increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the Credit Facility to a total of fifteen participants.  The recent increase in total commitments was executed under the accordion feature of the Credit Facility which allows for an increase in total commitments under the facility up to $650.0 million from new and existing lenders on the same terms and conditions as the existing commitments.  The recent increase in total commitments under the Credit Facility provides Main Street with access to additional financing capacity in support of its future investment and operational activities.   

Main Street is a principal investment firm that provides long-term debt and equity capital to lower middle-market companies and debt capital to middle-market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors.

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