Main Street Announces Private Loan Portfolio Activity in Q4 2020
HOUSTON, January 20, 2021 / PRNewswire / – Main Street Capital Corporation (NYSE: MAIN) (“Main Street”) is pleased to report the following recent activity in its private loan portfolio. During the fourth quarter of 2020, Main Street saw the light of day approximately $ 80.5 million new private loan commitments to four (4) new borrowers and financed the total of new investments in its private loan portfolio with a base cost totaling approximately $ 98.5 million.
The following represent notable new and phased private lending commitments in the fourth quarter of 2020:
- $ 35.0 million in a senior secured loan and $ 2.5 million in a top-rated secure gun at an executive placement firm focused on the health and life sciences industry;
- $ 15.5 million in a senior secured loan and $ 4.7 million in connection with a senior secured deferred drawing loan to a futures trading platform operator
- $ 11.4 million in a senior secured loan, $ 5.7 million as part of a secured senior loan with deferred drawing and $ 2.9 million in a first-class secure revolver to a manufacturer and distributor of residential and commercial fencing;
- $ 12.0 million in a senior secured loan and $ 1.0 million in a senior first rank gun secured to a subcontractor of interior acoustic walls and ceilings;
- $ 10.0 million under a senior secured loan to a provider of physical and virtual application delivery controllers and an operator of a global network intelligence company; and
- $ 10.0 million under a senior senior secured loan to a manufacturer and distributor of charitable gaming supplies in the global charitable and social gaming marketplace.
From December 31, 2020, Main Street’s private loan portfolio comprised total investments at a cost of approximately $ 769.0 million through 63 unique borrowers. The private loan portfolio, as a percentage of cost, consisted of 90% invested in senior debt securities, 3% invested in secondary debt securities and 7% invested in investments in equities or other securities.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment company that primarily provides long-term debt and equity to lower-middle market companies and debt capital to mid-market companies. Main Street portfolio investments are generally made to support management buyouts, recapitalizations, growth financings, refinances and acquisitions of companies that operate in various industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and typically provides “one-stop” financing alternatives within its lower middle market portfolio. Main Street lower middle market businesses typically have annual revenues between $ 10 million and $ 150 million. Main Street’s middle market debt investments are made in companies that are generally larger in size than the companies in its lower middle market portfolio.
Main Street, through its 100% owned holding company MSC Adviser I, LLC (“MSC Adviser”), also maintains an asset management business through which it manages investments for third parties. . MSC Adviser is registered as an investment adviser under the Investment Advisers Act 1940.
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, [email protected]
Brent D. Smith, CFO, [email protected]
Dennard Lascar Investor Relations
Ken dennard | [email protected]
Zach Vaughan | [email protected]
SOURCE Main Street Capital Corporation