This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MVC Capital Secures $50 Million Revolving Credit Facility

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."

MVC-G                                                                 

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.

Forward-Looking Statements

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
         Jackie Rothchild
         MVC Capital, Inc.
         914-510-9400
         or
         Jeffrey Goldberger / Garth Russell
         KCSA Strategic Communications
         212-896-1249 / 212-896-1250
         
         Media Inquiries
         Nathaniel Garnick / Patrick Scanlan
         SardVerbinnen & Co.
         212-687-8080

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs