Main Street Capital increases credit facility to $597.5 million

By Wendy Van Sickle

Columbus, Ohio, April 30 – Main Street Capital Corp. entered into an agreement to increase total commitments under its five-year credit facility to $597.5 million from $572.5 million, as detailed in a form 8-K filed with the Securities and Exchange Commission on Wednesday.

The credit facility’s accordion also will increase to $750 million from $650 million,

Branch Banking and Trust Co. is the administrative agent. Regions Bank, Royal Bank of Canada, Frost Bank, Whitney Bank, Amegy Bank NA, Capital One, NA, Texas Capital Bank, NA, Cadence Bank, NA, Goldman Sachs Bank USA, Comerica Bank, Patriot Bank, Trustmark National Bank, Raymond James Bank, NA and First Financial Bank, NA are also financing sources, according to the filing.

The $25 million increase in total commitments under the credit facility was the result of a commitment increase by one of the existing lenders in the facility, according to a Main Street press release.

The increase was executed under the accordion feature of the credit facility, which allows for an increase in total commitments up to $750 million from new and existing lenders on the same terms and conditions as the existing commitments.

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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