Runway Growth Credit Fund Inc. Announces Expansion of KeyBank Revolving Credit Facility to $215M and Addition of New Lenders

-- Closes on $115M in new lender commitments with accordion feature up to $300M --

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Dec 10, 2020, 15:00 ET

CHICAGO, Dec. 10, 2020 /PRNewswire/ -- Runway Growth Credit Fund Inc. (the "Fund" or "Runway Growth"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced that it has expanded and amended its credit agreement with KeyBank Specialty Finance Lending and other lenders (the "Revolving Credit Facility"). The Revolving Credit Facility provides for borrowings up to a maximum aggregate principal amount of $215M, with an accordion feature that enables Runway Growth to increase the aggregate commitments up to $300M.

Three new banks, MUFG Union Bank N.A. (co-documentation agent and lender), Bank of Hope (lender), and First Foundation Bank (lender), join KeyBank Specialty Finance Lending (administrative agent, syndication agent and lender) and CIBC Bank USA (co-documentation agent and lender) as parties to the Revolving Credit Facility in support of the Fund's growth. On September 30, 2020, the Fund's non-control/non-affiliate investment portfolio totaled $435.1M.

"We are pleased to have been able to expand our total availability under the Revolving Credit Facility to $215M. The funds will be used to support growth in Runway Growth's loan portfolio and to continue fueling our philosophy of relationship-driven investing that helps dynamic companies achieve their potential," stated Runway Growth's Chief Financial Officer, Tom Raterman. "With nearly $220M in available liquidity consisting of cash, undrawn credit facilities and undrawn equity capital commitments, we are well positioned to fund strong portfolio growth in 2021."

"Runway Growth continues to be an effective provider of debt capital to fast-growing companies and it has been a strong addition to our industry-leading growth capital lending portfolio. We are pleased to expand our commitment to the Fund and look forward to working with the management team to support their growth lending platform," said Rian Emmett, Group Head of KeyBank Specialty Finance Lending.

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 that 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.

About KeyBank Specialty Finance Lending

KeyBank Specialty Finance Lending is a business unit of KeyBank National Association and provides structured debt facilities for targeted segments within the specialty lending marketplace. For more information, visit keyequipmentfinance.com/business/specialty-finance.

About KeyCorp

KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $170.5 billion at September 30, 2020. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of over 1,000 branches and approximately 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com. KeyBank is Member FDIC.

Forward-Looking Statements

Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties, including the impact of COVID-19 and related changes in base interest rates and significant market volatility on our business, our portfolio companies, our industry and the global economy. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway Growth's filings with the Securities and Exchange Commission. Runway Growth undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Runway Growth Capital LLC