Runway Growth Credit Fund, a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced that it has expanded and amended its credit agreement with KeyBank Specialty Finance Lending and other lenders. The Revolving Credit Facility provides for borrowings up to a maximum aggregate principal amount of $215M, with an accordion feature that enables Runway Growth to increase the aggregate commitments up to $300M.

Three new banks, MUFG Union Bank N.A. (co-documentation agent and lender), Bank of Hope (lender), and First Foundation Bank (lender), join KeyBank Specialty Finance Lending (administrative agent, syndication agent and lender) and CIBC Bank USA (co-documentation agent and lender) as parties to the Revolving Credit Facility in support of the Fund's growth. On September 30, 2020, the Fund's non-control/non-affiliate investment portfolio totaled $435.1M.

"We are pleased to have been able to expand our total availability under the Revolving Credit Facility to $215M. The funds will be used to support growth in Runway Growth's loan portfolio and to continue fueling our philosophy of relationship-driven investing that helps dynamic companies achieve their potential," stated Runway Growth's Chief Financial Officer, Tom Raterman. "With nearly $220M in available liquidity consisting of cash, undrawn credit facilities and undrawn equity capital commitments, we are well positioned to fund strong portfolio growth in 2021."

"Runway Growth continues to be an effective provider of debt capital to fast-growing companies and it has been a strong addition to our industry-leading growth capital lending portfolio. We are pleased to expand our commitment to the Fund and look forward to working with the management team to support their growth lending platform," said Rian Emmett, Group Head of KeyBank Specialty Finance Lending.