HOUSTON, Jan. 16,
2024 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce the following
recent activity in its private loan portfolio. During the fourth
quarter of 2023, Main Street originated new or increased
commitments in its private loan portfolio of $136.8 million and funded total investments
across its private loan portfolio with a cost basis totaling
$160.4 million.
The following represent notable new private loan commitments and
investments during the fourth quarter of 2023:
- $42.5 million in a first lien
senior secured loan to a supplier of complex antenna and thermal
management solutions critical to the advancement and management of
next-generation radars, electronic warfare and defense systems;
- $32.5 million in a first lien
senior secured loan, $8.8 million in
a first lien senior secured revolver and $0.7 million in equity to a vertically integrated
manufacturer of plastic promotional and packaging products;
- $11.3 million in a first lien
senior secured loan, $2.3 million in
a first lien senior secured revolver and $4.5 million in a first lien senior secured
delayed draw loan to a global language services provider to the
healthcare and life science end markets;
- $9.9 million in a first lien
senior secured loan, $1.7 million in
a first lien senior secured revolver, $1.3
million in a first lien senior secured delayed draw loan and
$0.5 million in equity to a
manufacturer and distributor of branded premium beaded ice
cream;
- Increased commitment of $7.2
million in a first lien senior secured incremental loan to a
futures trading platform that provides software and brokerage tools
that allow retail traders to perform advanced charting, run trade
simulations and utilize automated trading applications;
- Increased commitment of $6.7
million in a first lien senior secured incremental loan to a
provider of mission critical specialty and traditional industrial
cleaning and mechanical services; and
- Increased commitment of $5.3
million in a first lien senior secured incremental loan to a
provider of ground services to the commercial, general and cargo
aviation markets.
As of December 31, 2023, Main
Street's private loan portfolio included total investments at cost
of approximately $1.5 billion across
87 unique borrowers. The private loan portfolio, as a percentage of
cost, included 94.7% invested in first lien debt investments and
5.3% invested in equity investments or other securities.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street
(www.mainstcapital.com) is a principal investment firm that
primarily provides long-term debt and equity capital to lower
middle market companies and debt capital to middle market
companies. Main Street's portfolio investments are typically
made to support management buyouts, recapitalizations, growth
financings, refinancings and acquisitions of companies that operate
in diverse industry sectors. Main Street seeks to partner
with entrepreneurs, business owners and management teams and
generally provides "one stop" financing alternatives within its
lower middle market investment strategy. Main Street's lower
middle market companies generally have annual revenues between
$10 million and $150 million. Main Street's middle market
debt investments are made in businesses that are generally larger
in size than its lower middle market portfolio companies.
Main Street, through its wholly owned portfolio company MSC
Adviser I, LLC ("MSC Adviser"), also maintains an asset management
business through which it manages investments for external parties.
MSC Adviser is registered as an investment adviser under the
Investment Advisers Act of 1940, as amended.
Contacts:
Main Street Capital
Corporation
Dwayne L.
Hyzak, CEO,
dhyzak@mainstcapital.com
Jesse E. Morris, CFO and COO,
jmorris@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken Dennard |
ken@dennardlascar.com
Zach Vaughan |
zvaughan@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation