HOUSTON, Oct. 14,
2022 /PRNewswire/ -- Main Street Capital Corporation
(NYSE: MAIN) ("Main Street") is pleased to announce the following
recent activity in its private loan portfolio. During the third
quarter of 2022, Main Street originated approximately $269.9 million in new commitments in its private
loan portfolio across eight new borrowers and funded total
investments across its private loan portfolio with a cost basis
totaling approximately $233.8
million.
The following represent notable new private loan commitments and
investments during the third quarter of 2022:
- $67.6 million in a first lien
senior secured loan, $7.1 million in
a first lien senior secured revolver and $1.4 million in equity to an outsourced legal
provider and mass tort settlement administrator;
- $37.5 million in a first lien
senior secured loan, $7.2 million in
a first lien senior secured revolver and $1.7 million in equity to a provider of design,
engineering and manufacturing services for a variety of original
equipment manufacturers in the agricultural, construction and
recreational industries;
- $28.6 million in a first lien
senior secured loan and $9.5 million
in a first lien senior secured revolver to a provider of
specialized welding and related energy infrastructure
services;
- $14.4 million in a first lien
senior secured loan, $12.0 million in
a first lien senior secured revolver, $8.0
million in a first lien senior secured delayed draw loan and
$0.2 million in equity to a
supplemental staffing company focused on business continuity
solutions;
- $16.9 million in a first lien
senior secured loan, $3.4 million in
a first lien senior secured revolver and $6.8 million in a first lien senior secured
delayed draw loan to a provider of clinical trial sites used by
drug manufacturers to perform clinical trials;
- $17.1 million in a first lien
senior secured loan, $1.5 million in
a first lien senior secured revolver and $3.0 million in a first lien senior secured
delayed draw loan to a provider of applied behavior analysis
therapy;
- $16.0 million in a first lien
senior secured loan, $3.2 million in
a first lien senior secured revolver and $0.6 million in equity to a provider of
professional-level photobooks, cards, frames, photoprint, calendars
and more; and
- $3.7 million in a first lien
senior secured loan, $1.0 million in
a first lien senior secured revolver and $1.5 million in a first lien senior secured
delayed draw loan to a provider of high-quality rice varietals as
well as beans and spices.
As of September 30, 2022, 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 97.0% invested in first lien debt investments and
3.0% 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