HOUSTON, Jul 15, 2021 / PRNewswire / – Main Street Capital Corporation (NYSE: MAIN) (Main Street) is pleased to announce recent activity in its private loan portfolio. In the second quarter of 2021, Main Street started around $ 118.5 million USA in new private loan commitments to six (6) new borrowers and funded general investments within its private loan portfolio on a cost basis totaling approximately USD 125.6 million USA…
The following are notable commitments for new private loans in the second quarter of 2021:
- USD 41.2 million USA in a top-priority secured lien loan and USD 8.8 million USA in the first arrest of a senior secured revolver to a provider of secure cloud communications solutions and managed services;
- US $ 19.4 million USA in a top-priority secured lien loan and $ 1.3 million the first pledge is a senior secured revolver to a provider of software solutions used to manage outdoor recreation resources;
- USD 16.9 million USA in a top-priority secured lien loan and $ 2.0 million as the first pledge of a senior secured revolver to a labor market analytics solution provider to help clients make data-driven decisions;
- USD 11.3 million USA in a top-priority secured lien loan and 0.8 million USD USA in the first pledge of a senior secured revolver to a provider of higher education services for labor organizations and professional associations;
- USD 9.9 million USA in the form of a top-priority secured loan to a manufacturer of carpet cleaning products and machines; as well as
- $ 7.1 million USA in the form of a principal secured first-pledge loan to a wholesaler of licensed, branded and private apparel at multiple retail levels.
As of June 30, 2021The Main Street private loan portfolio included a total investment of approximately USD 884.0 million USA through 69 unique borrowers. The portfolio of loans to individuals, as a percentage of the value, includes 92.2% of investments in debt investments with first pledge, 1.8% of investments in debt investments with a second hold and 6.0% of investments in equity securities or other securities …
ABOUT MAIN STREET CAPITAL CORPORATION
The main street (www.mainstcapital.com) is a major investment firm that primarily provides long-term debt and equity capital to lower- and middle-market companies, and debt capital to mid-market companies. Main Street portfolio investments are typically made to support management buyouts, recapitalizations, growth finance, refinancing and takeovers of companies operating in a variety of industries. Main Street is committed to partnering with entrepreneurs, business owners and management teams and typically provides “one-stop” financing alternatives within its portfolio in the lower middle market. Lower and middle market companies on Main Street typically have annual income between 10 million dollars as well as $ 150 million… Main Street’s investments in mid-market debt are made in businesses that tend to be larger than companies with a portfolio of companies in the lower mid-market.
Main Street, through its 100% portfolio company MSC Adviser I, LLC (“MSC Adviser”), also operates an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment advisor under the Investment Advisors Act 1940.
SOURCE Main Street Capital Corporation