HOUSTON, April 27, 2021 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to
announce the following recent activity in its private loan
portfolio. During the first quarter of 2021, Main Street originated
approximately $25.4 million in new
private loan commitments across two (2) new borrowers and funded
total new investments across its private loan portfolio with a cost
basis totaling approximately $39.8
million.
The following represent notable new private loan commitments
during the first quarter of 2021:
- $15.7 million in a first lien
senior secured loan and $3.7 million
in a first lien senior secured revolver to a self-storage design
and construction provider; and
- $6.0 million in a first lien
senior secured loan to a distributor of hard-to-find and obsolete
electronic components.
As of March 31, 2021, Main
Street's private loan portfolio included total investments at cost
of approximately $767.1 million
across 63 unique borrowers. The private loan portfolio, as a
percentage of cost, included 91% invested in first lien debt
investments, 2% invested in second lien debt investments, and 7%
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 portfolio. 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.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Brent D. Smith, CFO,
bsmith@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