HOUSTON, Nov. 5, 2020 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to
announce the expansion of total commitments under its revolving
credit facility (the "Credit Facility") from $740.0 million to $780.0
million. The $40.0 million net
increase in total commitments was the result of the addition of a
new lender relationship, which further diversifies the Main Street
lending group under the Credit Facility to a total of nineteen
participants. The recent increase in total commitments was
executed under the accordion feature of the Credit Facility, which
allows for an increase up to $800.0
million in total commitments under the facility from new and
existing lenders on the same terms and conditions as the existing
commitments. The recent increase in total commitments under
the Credit Facility provides Main Street with access to additional
financing capacity in support of its future investment and
operational activities.
In commenting on this expansion of the total commitments under
the Credit Facility, Dwayne L.
Hyzak, Main Street's Chief Executive Officer, stated, "We
are very pleased that we were able to expand the commitments under
our credit facility to provide access to additional capital. The
confidence shown by this new lending relationship and the continued
support from our long-term relationships within our lending group
is greatly appreciated."
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street
(www.mainstcapital.com) is a principal investment firm that
primarily provides long-term debt and equity capital to lower
middle market companies and debt capital to middle market
companies. Main Street's portfolio investments are typically made
to support management buyouts, recapitalizations, growth
financings, refinancings and acquisitions of companies that operate
in diverse industry sectors. Main Street seeks to partner
with entrepreneurs, business owners and management teams and
generally provides "one stop" financing alternatives within its
lower middle market portfolio. Main Street's lower middle
market companies generally have annual revenues between
$10 million and $150 million. Main Street's middle market
debt investments are made in businesses that are generally larger
in size than its lower middle market portfolio companies.
Main Street, through its wholly owned portfolio company MSC
Adviser I, LLC ("MSC Adviser"), also maintains an asset management
business through which it manages approximately $950 million of investments for third
parties. MSC Adviser is registered as an investment adviser
under the Investment Advisers Act of
1940.
FORWARD-LOOKING STATEMENTS
This press release may
contain certain forward-looking statements, including but not
limited to the availability of future financing capacity under the
Credit Facility, which are based upon Main Street management's
current expectations and are inherently uncertain. Any such
statements other than statements of historical fact are likely to
be affected by other unknowable future events and conditions,
including elements of the future that are or are not under Main
Street's control, and that Main Street may or may not have
considered; accordingly, such statements cannot be guarantees or
assurances of any aspect of future performance. Actual
performance and results could vary materially from these estimates
and projections of the future as a result of a number of factors,
including those described from time to time in Main Street's
filings with the Securities and Exchange Commission. Such
statements speak only as of the time when made and are based on
information available to Main Street as of the date hereof and are
qualified in their entirety by this cautionary statement.
Main Street assumes no obligation to revise or update any such
statement now or in the future.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Brent D. Smith, CFO,
bsmith@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken Dennard /
ken@dennardlascar.com
Zach Vaughan /
zvaughan@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation