Total Commitments Increased to $1.110 Billion and Final Maturity
of the Facility Extended to June
2029
HOUSTON, June 28,
2024 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce the amendment
of its revolving credit facility (the "Corporate Facility"). The
recently closed amendment provides an increase in total commitments
from $995.0 million to $1.110 billion and an increase to the diversified
group of lenders to 19 lenders, while maintaining an expanded
accordion feature that allows for an increase up to $1.665 billion of total commitments from new and
existing lenders on the same terms and conditions as the existing
commitments. The amendment also provides for maturity dates of
June 2029 on $1.035 billion and August
2027 on $0.075 billion of the
total revolving commitments, respectively. In addition to the
increased commitments and extended maturity, Main Street continues
to maintain two, one-year extension options under the amended
Corporate Facility which could extend the final maturity of the
Corporate 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 investment strategy. Main Street's lower middle market
portfolio companies generally have annual revenues between
$10 million and $150 million. Main Street's middle market
portfolio companies 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, as amended.
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 facilities, 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,
events 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
Jesse E. Morris, CFO and COO,
jmorris@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
