MSC Income Fund unit gets $300 million four-year revolver

By Wendy Van Sickle

Columbus, Ohio, Feb. 4 – MSC Income Fund, Inc. wholly owned subsidiary MSIF Funding LLC entered into a $300 million senior secured revolving credit facility with JPMorgan Chase Bank, NA as administrative agent on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

An accordion feature allows for total commitments to be increased to up to $450 million.

The revolver matures on Feb. 3, 2025.

Borrowings bear interest at Libor plus 290 basis points.

Proceeds are being used to purchase certain investments and participation interests from HMS Funding I, LLC, MSC’s wholly owned subsidiary. HMS Funding will, in turn, use the proceeds from these transactions to fully repay its existing debt under its amended and restated credit agreement with Deutsche Bank AG, New York Branch, as administrative agent.

Houston-based MSC is an externally managed, non-diversified, closed-end management investment company that invests in lower middle-market companies.

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