THL Credit anticipates that substantially all of the net proceeds from its IPO will be invested by March 31, 2011.
“THL Credit’s national origination platform, leveraging our relationships and our three offices across the country, remains a differentiating competitive strength in sourcing attractive investment opportunities,” said Mr. Hunt. “We are seeing attractive opportunities to invest in leading middle market companies and are acquitting an active pipeline. We currently have four accepted term sheets on investments representing approximately $50 million. Our pace of origination is expected to drive growth in net investment income that will support the growth of future distributions to our stockholders.”
Conference CallThe company will host a conference call to discuss these results on August 10, 2010, at 1 p.m. Eastern Daylight Time. The conference call will be led by James K. Hunt, chief executive officer, and Terrence W. Olson, chief operating officer and chief financial officer. For those wishing to participate by telephone, dial (877) 375-9141 (domestic) or (253) 237-1151 (international) and use the passcode 88374972. The company will also broadcast the conference call live via its Website at www.thlcredit.com. A replay will be available through August 24, 2010, via the company's Website starting approximately two hours after the conclusion of the call. About THL Credit THL Credit is an externally-managed, non-diversified closed-end management investment company that has filed an election to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies. THL Credit invests primarily in private subordinated debt, or mezzanine debt, in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. Such investments in many cases include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit’s investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.