Main Street Capital lifts revolver commitments to $740 million

By Rebecca Melvin

New York March 24 – Main Street Capital Corp. said it increased the total commitments under its revolving credit facility to $740 million from $705 million, according to company news release on Tuesday.

The $35 million increase is due to the addition of a new lender. The company has a total of 18 lending banks, according to a press release.

The commitment increase was executed under the accordion, which allows for up to $800 million of total commitments, the release noted.

Referencing “current events and circumstances over the last few weeks,” Dwayne L. Hyzak, Main Street’s chief executive, said, the expanded commitments will provide access to additional capital while further diversifying the company’s lending group.

Houston-based Main Street provides long-term debt and equity capital to lower middle-market companies and debt capital to middle-market companies.

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