MFIC Extends, Amends Credit Facility to 2030 with Reduced Margin
MidCap Financial Investment Corporation (MFIC) has amended and extended its senior secured, multi-currency, revolving credit facility. The final maturity date has been pushed back from October 17, 2029, to October 1, 2030. The total lender commitments under the facility have decreased by $50 million to $1.610 billion.
JPMorgan Chase Bank, N.A. continues to serve as the Administrative Agent on the facility. The applicable margin under the facility has been reduced by 10 basis points to 177.5 basis points. The commitment fee has also been reduced by 5 basis points from 37.5 basis points to 32.5 basis points. MFIC primarily invests in directly originated and privately negotiated first lien senior secured loans to privately held U.S. middle-market companies, aiming to generate current income and, to a lesser extent, long-term capital appreciation. The company, a closed-end, externally managed, diversified management investment company, has elected to be treated as a business development company (BDC).
The facility is syndicated, with JPMorgan Chase Bank, N.A., Truist Securities, Inc., and BMO Capital Markets Corp. serving as Joint Bookrunners and Joint Lead Arrangers. Historically, such transactions often involve large investment banks and commercial banks specializing in credit funds, leveraged loans, and syndicated credits. JPMorgan Chase Bank, N.A. is frequently, but not always, the lead arranger.
MFIC's credit facility has been successfully amended and extended, with reduced margins and commitment fees. The company continues to focus on its investment objective, with a syndicated facility supported by leading financial institutions. For detailed and up-to-date information on specific transactions, it is recommended to consult official press releases, regulatory filings, business publications, and credit agency databases.
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