Runway Growth Finance increases maximum accordion to $600 million

By Wendy Van Sickle

Columbus, Ohio, Dec. 6 – Runway Growth Finance Corp. amended its credit agreement on Monday with KeyBank, NA as administrative agent to increase the maximum accordion amount by $100 million to $600 million and also entered a lender joinder that added an additional bank and increased the facility amount by $50 million to $550 million, according to an 8-K filing with the Securities and Exchange Commission.

The credit facility amendment also permits certain joint venture investments; modifies change of control restrictions and some collateral eligibility criteria and concentration limits; and increases the stock repurchase cap by $15 million to $50 million.

The credit agreement is dated April 20, 2022.

Runway is a specialty finance company focused on providing senior secured loans to high-growth-potential companies in technology, life sciences, health care information and services, business services, select consumer services and products and other high-growth industries. The closed-end management investment company is based in Chicago.

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