HOUSTON, April 8, 2021 /PRNewswire/ -- Main Street Capital
Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the
amendment of its revolving credit facility (the "Credit Facility").
The recently closed amendment provides an extension of the final
maturity to April 2026. The total commitments of the Credit
Facility increased from $780.0
million to $855.0 million
while maintaining an expanded accordion feature that allows for an
increase up to $1.2 billion of total
commitments from new and existing lenders on the same terms and
conditions as the existing commitments. The interest rate for
outstanding borrowings under the Credit Facility remains unchanged
at the applicable LIBOR rate plus 1.875% so long as Main Street
satisfies certain agreed upon excess collateral and leverage
requirements, consistent with the historical requirements under the
Credit Facility. In addition to the extended maturity and
increased commitments, Main Street continues to maintain two,
one-year extension options under the amended Credit Facility which
could extend the final maturity of the Credit Facility for up to
two additional years, subject to certain conditions, including
lender approval.
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 investments for external
parties. MSC Adviser is registered as an investment adviser
under the Investment Advisers Act of 1940.
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