Main Street Capital Increases SPV Credit Facility

(RTTNews) - Main Street Capital Corp. (MAIN), an investment firm, announced on Friday that its unit MSCC Funding I, LLC or the SPV has expanded its senior secured revolving credit facility from $255 million to $430 million.

The increase is the result of the addition of two new lender relationships under the SPV Credit Facility.

The total commitments were executed under the accordion feature of the SPV Credit Facility, as it allows for an increase of up to $450 million in total commitments from new and existing lenders under the same terms and conditions as the existing commitments.

As per Main Street, the increase in total commitments under the SPV Credit Facility provides the company with access to additional financing capacity to fund the future growth of its investment portfolio and for general corporate purposes.

"These new commitments provide us with $175 million of additional debt capital, which when combined with over $80 million of new equity capital raised under our at-the-market, or ATM, equity issuance program during the third quarter of 2023, has significantly increased our overall liquidity available to fund the continued growth of our investment portfolio and provided us additional flexibility with our overall capital structure," commented, Dwayne Hyzak, Main Street's Chief Executive Officer.

In pre-market activity, Main Street shares are trading at $39.90, up 0.50% on the New York Stock Exchange.