Main Street Capital boosts revolver to $155 million, extends maturity

By Susanna Moon

Chicago, June 29 - Main Street Capital Corp. raised the total commitments under its revolving credit facility to $155 million from $100 million and added a $45 million accordion, according to an 8-K filing with the Securities and Exchange Commission.

The company also extended the maturity to Sept. 20, 2014.

Main Street Capital amended its credit agreement with Branch Banking and Trust Co., Regions Bank, Capital One, NA, Compass Bank, Texas Capital Bank and Frost National Bank, as lenders, and BB&T as administrative agent Tuesday.

The additional $55 million included commitment increases by all six lenders participating in the facility.

The added boost in total commitments "provides Main Street with access to additional financing capacity in support of its future investment and operational activities," the company said in a press release.

The company increased the revolver to $100 million from $85 million by using a portion of the accordion feature on Jan. 10, as previously reported.

Capital One was the additional lender that provided the incremental $15 million commitment.

Main Street is a Houston-based principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies.

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