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Main Street Announces Increase in Commitments Under Its Credit Facility

March 26, 2020, 09:00 AM
Filed Under: Industry News

Main Street Capital Corporation announced the expansion of total commitments under its revolving credit facility (the "Credit Facility") from $705.0 million to $740.0 million. The $35.0 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 eighteen participants. The recent increase in total commitments was executed under the accordion feature of the Credit Facility which allows for an increase up to $800.0 million in total commitments under the facility 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.

In commenting on this expansion of the total commitments under the Credit Facility, Dwayne L. Hyzak, Main Street's Chief Executive Officer, stated, "We are very pleased that we were able to expand the commitments under our credit facility to provide access to additional capital while further diversifying our lending group. Our credit facility, and more importantly the long-term relationships with each lender in our lending group, are extremely important to us, and we deeply value and appreciate these relationships. The confidence that this new lender and the individuals on its relationship team have shown in Main Street is very much appreciated, particularly given the current events and circumstances over the last few weeks."

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