Capital Southwest Increases Credit Facility to $400 million
17 November 2022 - 8:01AM
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 its senior secured revolving credit facility (the “Credit
Facility”). The Credit Facility was increased under the existing
accordion feature by $20 million, bringing the total commitments
from $380 million to $400 million. The $20 million increase was
provided by one existing lender and one new lender, bringing the
total bank syndicate to 11 participants.
About Capital Southwest
Capital Southwest Corporation (Nasdaq: CSWC) is
a Dallas, Texas-based, internally managed business development
company with approximately $1.1 billion in investments at fair
value as of September 30, 2022. 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.
Forward-Looking Statements
This press release contains historical
information and forward-looking statements with respect to the
business and investments of Capital Southwest. Forward-looking
statements are statements that are not historical statements and
can often be identified by words such as "will," "believe,"
"expect" and similar expressions and variations or negatives of
these words. These statements are based on management's current
expectations, assumptions and beliefs. They are not guarantees of
future results and are subject to numerous risks, uncertainties and
assumptions that could cause actual results to differ materially
from those expressed in any forward-looking statement. These risks
include risks related to: the adequacy of Capital Southwest’s cash
resources and working capital; changes in the markets in which
Capital Southwest invests; changes in the financial, capital, and
lending markets; changes in the interest rate environment;
regulatory changes; tax treatment and general economic and business
conditions; an economic downturn and its impact on the ability of
Capital Southwest’s portfolio companies to operate and the
investment opportunities available to Capital Southwest
Corporation; and uncertainties associated with the impact from the
COVID-19 pandemic, including its impact on the global and U.S.
capital markets and the global and U.S. economy, the length and
duration of the COVID-19 outbreak in the United States as well as
worldwide and the magnitude of the economic impact of that
outbreak; the effect of the COVID-19 pandemic on our business
prospects and the operational and financial performance of our
portfolio companies, including our ability and their ability to
achieve their respective objectives, and the effects of the
disruptions caused by the COVID-19 pandemic on our ability to
continue to effectively manage our business.
Readers should not place undue reliance on any
forward-looking statements and are encouraged to review Capital
Southwest's Annual Report on Form 10-K for the year ended March 31,
2022 and subsequent filings, including the "Risk Factors" sections
therein, with the Securities and Exchange Commission for a more
complete discussion of the risks and other factors that could
affect any forward-looking statements. Except as required by the
federal securities laws, Capital Southwest does not undertake any
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events,
changing circumstances or any other reason after the date of this
press release.
Investor Relations Contact:
Michael S. Sarner, Chief Financial Officer214-884-3829
Capital Southwest (NASDAQ:CSWC)
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