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Main Street Announces Amendment of its SPV Credit Facility
Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that its wholly-owned subsidiary, MSCC Funding I, LLC ("MSCC Funding"), recently amended its special purpose vehicle revolving credit facility (the "SPV Facility"). The recently closed amendment decreases the interest rate during the revolving period to one-month term Secured Overnight Financing Rate ("Term SOFR") plus 1.95% (from the prior interest rate of Term SOFR plus 2.35%) and during the first and second ye
About this update from Main Street Capital Corporation
[{"type":"text","content":"Interest Rate Reduced ","length":21,"tagName":"p","attribs":{}},{"type":"text","content":"Final Maturity Date Extended to September 2030","length":46,"tagName":"p","attribs":{}},{"type":"text","content":"HOUSTON, April 24, 2025 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that its wholly-owned subsidiary, MSCC Funding I, LLC ("MSCC Funding"), recently amended its special purpose vehicle revolving credit facility (the "SPV Facility"). The recently closed amendment decreases the interest rate during the revolving period to one-month term Secured Overnight Financing Rate ("Term SOFR") plus 1.95% (from the prior interest rate of Term SOFR plus 2.35%) and during the first and second years after the revolving period to Term SOFR plus 2.075% and 2.20%, respectively (from the prior interest rate of Term SOFR plus 2.475% and 2.60%, respectively). The amendment also extends both the revolving period, or reinvestment period, and the final maturity date by one year through September 2028 and to September 2030, respectively. The amendment also decreases the unused fee to 0.40% (from 0.50%) on the unused amount up to 50% (from 35%) of the commitment amount.","length":1057,"tagName":"p"},{"type":"text","content":"ABOUT MAIN STREET CAPITAL CORPORATION","length":37,"tagName":"p"},{"type":"text","content":"Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides customized long-term debt and equity capital solutions to lower middle market companies and debt capital to private companies owned by or in the process of being acquired by a private equity fund. 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 customized "one-stop" debt and equity financing alternatives within its lower middle market investment strategy. Main Street seeks to partner with private equity fund sponsors and primarily invests in secured debt investments in its private loan investment strategy. Main Street's lower middle market portfolio companies generally have ...