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MVC Capital Secures $50MM Credit Facility With BB&T

August 06, 2013, 07:07 AM
Filed Under: Lender Finance

MVC Capital, Inc., a publicly traded business development company that makes private debt and equity investments, announced that Branch Banking and Trust Company ("BB&T") has provided the company with a $50 million one-year revolving credit facility.

The additional $50 million credit facility will be used to enhance the company's investment flexibility in managing MVC Capital's investment portfolio. The facility bears interest at LIBOR plus 100 basis points.

"This $50 million revolving credit facility enhances our ability to increase activity, as we continue to pursue our strategy of targeting yielding investments," said Michael Tokarz, chairman & portfolio manager of MVC. "Over the past several months, we have secured more than $160 million in capital on favorable terms that should allow us to more actively engage in investments among middle-market companies looking to grow their businesses."

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