Runway Growth Finance (RWAY) lowers credit line and revises covenants
Rhea-AI Filing Summary
Runway Growth Finance Corp. entered into its eighth amendment to an amended and restated credit agreement among the company as borrower, financial institutions as lenders, and KeyBank National Association as administrative agent, effective as of June 30, 2026. The amendment was executed on July 13, 2026.
The Credit Facility Amendment reduces the company’s credit facility commitment from $550,000,000 to $425,000,000, permits future prepayment and termination of a specified lender’s commitments on a non-pro rata basis, revises certain financial covenants, updates key person trigger events, and adjusts loan eligibility criteria and borrowing base concentration limits.
Positive
- None.
Negative
- Credit facility commitment reduced from $550,000,000 to $425,000,000, shrinking available committed borrowing capacity under the company’s amended and restated credit agreement.
8-K Event Classification
3 items: 1.01, 2.03, 9.01
3 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
New credit facility commitment: $425,000,000
Prior credit facility commitment: $550,000,000
Effective date of Credit Facility Amendment: June 30, 2026
+2 more
5 metrics
New credit facility commitment
$425,000,000
Commitment amount after the eighth amendment to the Credit Agreement
Prior credit facility commitment
$550,000,000
Commitment amount before the eighth amendment
Effective date of Credit Facility Amendment
June 30, 2026
Date on which the eighth amendment became effective
Execution date of eighth amendment
July 13, 2026
Date Runway Growth Finance Corp. entered into the Credit Facility Amendment
Original amended and restated Credit Agreement date
April 20, 2022
Date of the underlying amended and restated credit agreement
Key Terms
Credit Facility Amendment, borrowing base concentration limitations, key person trigger events, non-pro rata basis
4 terms
Credit Facility Amendment financial
"entered into the eighth amendment (the "Credit Facility Amendment") to the amended"
A credit facility amendment is a formal change to the terms of an existing loan or line of credit, like altering interest rates, repayment schedule, borrowing limits, or the rules the borrower must follow. Investors care because those changes affect a company’s cash flow and financial flexibility — like renegotiating a mortgage can free up or constrain money — and can signal improving access to capital or potential financial stress.
borrowing base concentration limitations financial
"amended certain loan eligibility criteria and borrowing base concentration limitations"
key person trigger events financial
"amend certain financial covenants; (iv) updated key person trigger events"
non-pro rata basis financial
"future prepayment and termination of a certain lender’s commitments on a non-pro rata basis"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What is Runway Growth Finance Corp. (RWAY)'s new credit facility commitment?
Runway Growth Finance Corp.’s amended credit agreement sets a credit facility commitment of $425,000,000. This is down from $550,000,000 under the prior terms and is reflected in the eighth amendment entered July 13, 2026, effective as of June 30, 2026.
What major changes did the eighth Credit Facility Amendment make for RWAY?
The eighth amendment reduced the credit facility commitment to $425,000,000, allows future non-pro rata prepayment and termination of a specified lender’s commitments, revises certain financial covenants, updates key person trigger events, and modifies loan eligibility criteria and borrowing base concentration limits.
When did Runway Growth Finance Corp. (RWAY)'s credit amendment become effective?
The Credit Facility Amendment became effective on June 30, 2026. The company entered into the eighth amendment on July 13, 2026, with the effectiveness date set earlier by agreement among the borrower, lenders, and administrative agent.
Which institutions are involved in RWAY's amended credit agreement?
The amended credit agreement includes KeyBank National Association as administrative agent, CIBC Bank USA as documentation agent, MUFG Bank, Ltd. as co-documentation agent, U.S. Bank Trust Company as paying agent and collateral custodian, and various financial institutions as lenders.
How does the amendment affect loan eligibility and borrowing base for RWAY?
The eighth amendment changes loan eligibility criteria and borrowing base concentration limitations. These revisions define which loans qualify as collateral and how concentrated the borrowing base may be, influencing the amount of credit that can be drawn against the underlying loan portfolio.