Main Street adds lender, lifts revolver commitments to $705 million

By Wendy Van Sickle

Columbus, Ohio, Nov. 15 – Main Street Capital Corp. said it increased the total commitments under its revolving credit facility to $705 million from $680 million on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The $25 million increase is due to the addition of a new lender, bringing the total number of banks to 18, 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.

Proceeds of the additional commitments will be used for additional financing capacity to support future investment and operational activities.

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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