MVC Capital renews $100 million revolving facility to May 31, 2016

By Tali Rackner

Norfolk, Va., Dec. 7 – MVC Capital, Inc. extended its $100 million revolving credit facility dated July 31, 2013 with Branch Banking and Trust Co. by six months to May 31, 2016, according to an 8-K filing with the Securities and Exchange Commission.

The company previously renewed the revolver by two months to Nov. 30. The initial term was one year.

No other terms of the facility were changed, except the fee on the unused portion of the facility was reduced to 20 basis points.

Borrowings continue to be secured by cash, short-term and long-term Treasury securities and other governmental agency securities, according to the filing.

MVC is a business development company based in Purchase, N.Y.

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