Loan & DebtJul 15, 2026, 04:56 PM
Runway Growth Finance Cuts Credit Facility to $425M
AI Summary
Runway Growth Finance Corp. entered into an eighth amendment to its credit agreement, effective June 30, 2026. The amendment decreased the credit facility commitment from $550 million to $425 million and modified financial covenants, key person trigger events, and loan eligibility criteria. Additionally, the company received a waiver for two prior defaults: one related to the delayed closure of a Wells Fargo brokerage account and another concerning the acquisition of MOD3 Pharma Inc. without prior consent and its failure to guarantee obligations.
Key Highlights
- Credit facility commitment decreased from $550,000,000 to $425,000,000.
- Permits future non-pro rata prepayment and termination of a lender's commitments.
- Amended certain financial covenants within the Credit Agreement.
- Updated key person trigger events and loan eligibility criteria.
- Waiver granted for Account Closure Default related to Wells Account closure.
- Waiver granted for MOD Event of Default regarding MOD3 Pharma Inc. acquisition and guaranty.
Price Impact
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