Main Street Capital Corporation announced the following recent activity in its private loan portfolio. During the third quarter of 2023, Main Street originated new or increased commitments in its private loan portfolio of $107.3 million and funded total investments across its private loan portfolio with a cost basis totaling $134.6 million.
The following represent notable new private loan commitments and investments during the third quarter of 2023:
- $57.3 million in a first lien senior secured loan and $10.2 million in a first lien senior secured revolver to a leading tech-enabled global business to business sales training and performance solutions provider;
- $14.4 million in a first lien senior secured loan, $2.6 million in a first lien senior secured revolver, $4.1 million in a first lien senior secured delayed draw loan and $0.7 million in equity to a provider of test, inspection and certification instruments and associated parts and services;
- Increased commitment of $12.9 million in a first lien senior secured incremental loan to a provider of mission critical specialty and traditional industrial cleaning and mechanical services;
- Increased commitment of $4.1 million in a first lien senior secured revolver to a provider of outsourced marketing services that helps brands and retailers manage all parts of the consumer lifecycle; and
- Increased commitment of $1.0 million in a first lien senior secured loan to a distributor of food products to corrections facilities, schools, military camps and other foodservice locations.
As of September 30, 2023, Main Street's private loan portfolio included total investments at cost of approximately $1.6 billion across 89 unique borrowers. The private loan portfolio, as a percentage of cost, included 95.8% invested in first lien debt investments and 4.2% invested in equity investments or other securities.