MVC Capital, Inc. entered into a six month, $25 million non-revolving credit facility with Firstrust Bank. That same day, the fund borrowed $15.9 million under the credit facility to partially finance investments in certain senior subordinated loans. The credit facility will expire on June 30, 2015, at which time all outstanding amounts under the credit facility will be due and payable.

Borrowings under the credit facility bear interest at a fixed rate of 5% with a guaranteed payment of 90 days of interest. In addition, the fund was subject to a loan fee of 1% of the commitment amount paid at closing. Borrowings under the credit facility are subject to certain collateral requirements, which include a first position security lien on substantially all of the fund's senior and subordinated promissory note investments.