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Main Street extends credit facility maturity, ups commitments

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Main Street extends credit facility maturity, ups commitments

Main Street Capital Corp. amended its revolving credit facility to extend final maturity and increase the total commitments.

The amendment extended the final maturity of the facility by more than two years to September 2023. In addition, it increased the total commitments under the facility to $655.0 million from $585.0 million.

An expanded accordion feature under the credit facility allows for an increase up to $800.0 million of total commitments from new and existing lenders on the same terms and conditions as the existing commitments.

The interest rate for outstanding borrowings under the facility remains unchanged at the applicable LIBOR rate plus 1.875%. Main Street continues to maintain two, one-year extension options under the amended credit facility which could extend its final maturity for up to two additional years, subject to certain conditions.