Main Street Capital lifts revolver to $855 million, extends maturity to April 2026

By Rebecca Melvin

Concord, N.H., April 8 – Main Street Capital Corp. has increased total commitments under its revolving credit facility to $855 million from $780 million and extended the final maturity to April 2026, according to company news release.

The facility maintains an expanded accordion feature that allows for an increase up to $1.2 billion from new and existing lenders on the same terms and conditions as the existing commitments.

The interest rate for outstanding borrowings under the facility remains unchanged at Libor plus 187.5 basis points contingent on Main Street satisfying certain agreed upon excess collateral and leverage requirements, consistent with the historical requirements under the facility.

In addition to the extended maturity and increased commitments, Main Street continues to maintain two, one-year extension options under the amended facility, which could extend the final maturity for up to two additional years, subject to certain conditions, including lender approval.

Houston-based Main Street provides long-term debt and equity capital to lower middle-market companies and debt capital to middle-market companies.

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