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Capital Southwest Increases Credit Facility to $460 million
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Rhea-AI Summary
Capital Southwest Corporation (Nasdaq: CSWC) announced an increase in total commitments under its senior secured credit facility by $25 million, bringing the total commitments from $435 million to $460 million. The increase was provided by one new lender, bringing the total bank syndicate to 10 participants. The existing Credit Facility accordion feature allows for maximum commitments of up to $750 million.
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DALLAS, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced an increase to the total commitments under its senior secured credit facility (the “Credit Facility”). The Credit Facility was increased under the existing accordion feature by $25 million, bringing total commitments from $435 million to $460 million. The $25 million increase was provided by one new lender, bringing the total bank syndicate to 10 participants. The existing Credit Facility accordion feature allows for maximum commitments of up to $750 million.
About Capital Southwest
Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $1.4 billion in investments at fair value as of September 30, 2023. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $35 million investments across the capital structure, including first lien, second lien and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.
Investor Relations Contact:
Michael S. Sarner, Chief Financial Officer 214-884-3829
FAQ
What did Capital Southwest announce?
Capital Southwest Corporation (Nasdaq: CSWC) announced an increase in total commitments under its senior secured credit facility by $25 million.
How much was the increase in total commitments?
The increase brought the total commitments from $435 million to $460 million.
How many participants are in the total bank syndicate?
The total bank syndicate now has 10 participants.
What is the maximum commitment allowed under the existing Credit Facility accordion feature?
The existing Credit Facility accordion feature allows for maximum commitments of up to $750 million.
