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 (BBT).

On February 28, 2017, the Fund renewed the same Credit Facility
until August 31, 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
an increase, at the Companys election, in the commitment amount
from $50 million to $100 million. The unused fee of 0.25% per
annum and the interest rate of LIBOR plus 1.25% per annum remain
unchanged. 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. The terms
include a closing fee of $187,500.

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, December 7, 2015
and July 6, 2016 (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.