Runway Growth Credit Fund Inc. Announces $100M Revolving Credit Agreement with KeyBank and CIBC Bank USA

-- Closes New $100M Revolving Credit Facility with Accordion feature to $200M --

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Jun 11, 2019, 09:12 ET

CHICAGO, June 11, 2019 /PRNewswire/ -- Runway Growth Credit Fund Inc. (the "Fund" or "Runway Growth"), a premier lender of growth capital to sponsored and non-sponsored companies seeking alternatives to raising equity, announced that it has entered into a Credit Agreement (as borrower) with KeyBank National Association (administrative agent, syndication agent and a lender) and CIBC Bank USA (documentation agent and a lender). The Credit Agreement provides for borrowings up to a maximum aggregate principal amount of $100M, with an accordion feature that could allow Runway to increase the aggregate commitments up to $200M.

The funds will be used to support growth in the Fund's loan portfolio, to continue fueling the Fund's philosophy of relationship-driven investing that helps dynamic companies achieve their potential.

Whether navigating dilution or boosting the balance sheet in anticipation of economic turbulence, achieving company growth without making significant sacrifices can be challenging. By providing thoughtful, patient debt capital, Runway Growth believes that it can help companies grow in a manner that is consistent with their vision.

"The future of growth lending is to creatively structure loans that match the entrepreneur's needs, in a manner that strikes a true partnership between borrower and lender," said Runway Growth's CEO, David Spreng. "We pride ourselves in our ability to truly understand the businesses we're working with, because that's the only way to provide a loan structure that fosters growth. The $100M revolving credit facility with KeyBank and CIBC USA provides us with additional capital to invest in rapidly growing companies with exciting commercial prospects."

"Runway Growth has established itself as an effective provider of debt capital to fast-growing companies. We are pleased to add Runway Growth to our growth capital lending portfolio and look forward to working with the management team in growing their BDC platform," said Rian Emmett, Group Head of Specialty Finance Lending at KeyBank.

This press release is neither an offer to sell nor a solicitation of an offer to buy shares of Runway Growth Credit Fund and will not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offers of shares will be made only by means of a private offering memorandum.

About Runway Growth Capital LLC and Runway Growth Credit Fund, Inc.
Runway Growth Capital LLC is the investment advisor to Runway Growth Credit Fund Inc., a lender of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, the Fund provides senior term loans of $10 million to $50 million to fast-growing companies based in the United States and Canada. The Fund is a closed-end investment fund which has elected to be regulated as a business development company under the Investment Company Act of 1940. For more on the Fund and its manager, Runway Growth Capital LLC, please visit our website at www.runwaygrowth.com.

SOURCE Runway Growth Capital LLC