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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
BB&T Agents Facility Expansion to $445MM for Main Street Capital
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Lenders/Participants
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BB&T [Administrative Agent]
Regions Bank [Lender]
Frost Bank [Lender]
Capital One Bank [Lender]
Texas Capital Bank [Lender]
Amegy Bank National Association [Lender]
Cadence Bank [Lender]
Royal Bank of Canada [Lender]
Patriot Bank [Lender]
Raymond James [Lender]
First Financial Bank [Lender]
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Structure
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Revolver Increase
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Amount
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$445.000
Million
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Borrower(s)
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Main Street Capital
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Description
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Credit facility provides an expansion of the total committed facility size to $445 million, including commitment increases by three existing lenders in the facility and the addition of two new lender relationships, which further diversifies the Main Street lending group under the credit facility to a total of 13 participants; an extension of the final maturity to five years, with the facility fully revolving for the entire five-year term; and reduced LIBOR interest rate pricing and reduced unused commitment fees. The amended credit facility also contains an upsized accordion feature that allows for an increase in total commitments under the facility to up to $500 million from new and existing lenders on the same terms and conditions as the existing commitments, and has a maturity date of September 27, 2018. In addition, Main Street continues to maintain two, one-year extension options that could extend the final maturity of up to two additional years. Borrowings under the credit facility bear interest, subject to Main Street’s election, on a per annum basis equal to the applicable LIBOR rate plus 2.25% or the applicable base rate plus 1.25%. Main Street will pay unused commitment fees of 0.25% per annum on the average unused lender commitments. Main Street currently has $166 million of outstanding debt under the credit facility.
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Industry
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Lender Finance
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| Related Tags |
Amegy Bank National Association, BB&T, Cadence Bank, Capital One Bank, First Financial Bank, Frost Bank, Main Street Capital, Patriot Bank, Raymond James, Regions Bank, Royal Bank of Canada, Texas Capital Bank
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ABL Advisor
Deal Tables
2024
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