ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
As previously disclosed, MVC Capital, Inc. (the "Fund") is party to a one-year
$25 million revolving credit facility (the "Credit Facility"), dated as of July
31, 2013, with Branch Banking and Trust Company ("BB&T").
On August 31, 2020, the Fund and Truist Bank (formerly known as Branch Banking
and Trust Company) entered into the Fourteenth Amendment to the Secured
Revolving Credit Agreement (the "Amendment"). Pursuant to the Amendment, the
Fund and Truist Bank renewed the Credit Facility and amended the definition of
"Termination Date" in Section 1.01 of the Credit Facility to mean the earlier to
occur of (i) December 31, 2020, (ii) the effective date of the merger agreement
between the Fund and Barings BDC, Inc., (iii) the date the Revolver Commitment
(as defined in the Credit Facility) is terminated pursuant to Section 6.01 of
the Credit Facility following the occurrence of an Event of Default (as defined
in the Credit Facility), or (iv) the date the Fund terminates the Revolver
Commitment (as defined in the Credit Facility) entirely pursuant to Section 2.09
of the Credit Facility.
Other than as noted above, terms of the Credit Facility remain substantially
unchanged and borrowings under the Credit Facility continue to be secured by
cash, short-term and long-term U.S. Treasury securities and other governmental
agency securities.
As permitted by General Instruction B to the Form 8-K, this Current Report
incorporates by reference the information contained in previously filed reports
relating to the Credit Facility on Form 8-K filed on August 5, 2013, February 5,
2014, August 4, 2014, August 5, 2015, October 5, 2015, December 7, 2015, July 6,
2016, March 1, 2017, September 1, 2017, August 14, 2018 and August 30, 2019 and
on Form 10-Q filed on June 9, 2020 (File No. 814-00201).
ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
The information provided in Item 1.01 is incorporated herein by reference.
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