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MCGC > SEC Filings for MCGC > Form 8-K on 8-Aug-2013All Recent SEC Filings

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Form 8-K for MCG CAPITAL CORP


8-Aug-2013

Entry into a Material Definitive Agreement


Item 1.01. Entry into a Material Definitive Agreement.
Amendment to Unsecured Revolving Credit Facility On August 8, 2013, MCG Capital Corporation, a Delaware corporation ("MCG" or the "Company") and Bank of America, N.A. executed an amendment (the "Unsecured Revolver Amendment") to the Company's $20.0 million unsecured revolving credit facility (the "Credit Facility"). Under the Unsecured Revolver Amendment (i) MCG is required to maintain a zero balance on the Credit Facility for a period of at least five consecutive days during the six-month period immediately preceding June 30th and December 31st of each year, which testing was previously required quarterly, and (ii) advances under the Credit Facility will bear interest at the London Interbank Offer Rate plus 4.0% per annum.
The Company did not pay an amendment fee in connection with the Unsecured Revolver Amendment.
As of this date, there are no borrowings outstanding under the Credit Facility and the maturity date of the Credit Facility remains at November 21, 2014. The foregoing description of the Unsecured Revolver Amendment is not complete and is qualified in its entirety by the full text of such amendment, which is filed as an exhibit to this Current Report on Form 8-K as Exhibit 10.1, and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
10.1 First Amendment to Financing Agreement dated as of August 8, 2013 between MCG Capital Corporation and Bank of America, N.A.


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