Main Street Capital Corporation announced on October 1, 2024, that its wholly-owned subsidiary, MSCC Funding I, LLC, amended its special purpose vehicle revolving credit facility. This amendment increased total commitments from $430.0 million to $600.0 million, with an expanded accordion feature allowing for an increase up to $800.0 million from new and existing lenders.
The amendment also extended the revolving period through September 2027 and the final maturity date to September 2029. These extensions provide Main Street with enhanced long-term financial flexibility and stability for its investment and operating activities.
Furthermore, the interest rate during the revolving period was decreased to one-month Term SOFR plus 2.35% from the prior rate of SOFR plus 2.60%. This reduction in borrowing costs is expected to positively impact Main Street's financial performance.
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