Already accessing the asset-backed commercial paper market via First Union Securities' Variable Funding Capital Corp., Arlington, Va.-based MCG Capital Corp. could be a future player in the burgeoning mezzanine finance securitization sector.

The company recently filed with the Securities & Exchange Commission to raise up to $250 million in a stock offering. MCG has about $75 million outstanding in its variable funding securitization facility with First Union, which has a $150 million limit. Following the equity offering, First Union will increase the facility to $200 million, MCG said in its filing.

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