Bain Capital Specialty Finance increased commitments under its senior secured revolving credit facility with Sumitomo Mitsui Banking Corporation as administrative agent to $855 million from $665 million and extended the maturity date to May 18, 2029 from December 24, 2026. The total number of lenders to the Sumitomo Credit Facility increased to 14.

There was no change in borrowing costs in connection with the amendment of the Sumitomo Credit Facility. The stated interest rate on the facility with respect to term benchmark loans denominated in Dollars is (i) SOFR, plus (ii) a 0.10% credit spread adjustment, plus (iii) depending on debt outstanding and subject to borrowing base conditions, (a) 1.875% per annum or (b) 1.75% per annum.

“We are pleased to grow the size of our credit facility by attracting new lenders to our platform and extending the maturity,” said Michael Ewald, Chief Executive Officer of BCSF. “These changes further strengthen our capital position as we seek to capitalize on investment opportunities in the current environment.”

“We appreciate the support from our bank relationships we have developed across the Bain Capital platform,” said Amit Joshi, Chief Financial Officer of BCSF. “Our financing strategy for the Company remains focused on a diversified and long-dated liability structure with a strong liquidity and funding profile.”