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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

June 30, 2016

814-00201

(Commission File Number)

MVC CAPITAL, INC.

(the "Fund")

(Exact name of registrant as specified in its charter)

DELAWARE, 943346760

(Jurisdiction of Incorporation) (IRS Employer Identification Number)

287 Bowman Avenue

2nd Floor

Purchase, NY  10577

(Address of registrant's principal executive office)

914-701-0310

(Registrant's telephone number)

 

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(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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ITEM 1.01.

Entry into a Material Definitive Agreement.

As previously disclosed, MVC Capital, Inc. (the "Fund") is party to a one-year, $100 million revolving credit facility (the “Credit Facility”) dated as of July 31, 2013, with Branch Banking and Trust Company (“BB&T”).

On June 30, 2016, the Fund renewed the Credit Facility until February 28, 2017, at which time all outstanding amounts under the Credit Facility will be due and payable.

Certain terms of the Credit Facility have been amended, including a reduction at the Company’s election in the commitment amount from $100 million to $50 million, an increase in the unused fee from 0.20% to 0.25% per annum and an increase in the interest rate from LIBOR plus 1.00% to LIBOR plus 1.25%. The amendment also includes a waiver related to the delayed delivery of the Fund's financial reports for the quarter ended April 30, 2016, and a closing fee of $93,750.

 

 All other material terms of the Credit Facility remain 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 and December 7, 2015 (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.

ITEM 8.01.

Other Events.

The Fund has posted information on its website regarding the 2016 annual stockholder meeting, which will be held on August 30, 2016 at 3:00 PM eastern time. Please visit www.mvccapital.com for further information.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

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