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PURCHASE, N.Y., Aug. 5, 2013 (GLOBE NEWSWIRE) -- MVC Capital, Inc. (NYSE:MVC), a publicly traded business development company that makes private debt and equity investments, announced today that Branch Banking and Trust Company ("BB&T") has provided the Company with a $50 million one-year revolving credit facility (the "Facility").
The additional $50 million credit facility will be used to enhance the Company's investment flexibility in managing MVC Capital's investment portfolio. The Facility bears interest at LIBOR plus 100 basis points.
"This $50 million revolving credit facility enhances our ability to increase activity, as we continue to pursue our strategy of targeting yielding investments," said Michael Tokarz, Chairman & Portfolio Manager of MVC. "Over the past several months, we have secured more than $160 million in capital on favorable terms that should allow us to more actively engage in investments among middle-market companies looking to grow their businesses."
About MVC Capital, Inc.
MVC Capital is a Business Development Company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. For MVC's investor relations, please call Jackie Rothchild at 914-510-9400. All media inquiries should be directed to Nathaniel Garnick at 212-687-8080.
The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated in the company's periodic filings with the Securities and Exchange Commission.
CONTACT: Investor Relations
MVC Capital, Inc.
Jeffrey Goldberger / Garth Russell
KCSA Strategic Communications
212-896-1249 / 212-896-1250
Nathaniel Garnick / Patrick Scanlan
SardVerbinnen & Co.