This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

THL Credit Announces Third Quarter 2010 Financial Results And Quarterly Dividend Of $0.10 Per Share

"Given what we expect to be an active investment pace in the coming quarters, we anticipate having a leverage facility in place for use in the first quarter of 2011," said Terrence W. Olson, chief operating officer and chief financial officer of THL Credit. "In addition, we recently submitted our SBIC Management Assessment Questionnaire to the SBA. An SBIC license would provide access to long-term low cost capital to expand our investing activities."

Business Outlook

Many middle market companies have waited for clear economic signals before borrowing.  At the same time, their owners are sensitive to the prospect that taxes on capital gains may increase in 2011.  If economic conditions remain stable, these two catalysts could release a backlog and result in increasing demand for THL Credit's product. THL Credit has started to see some signs of this in recent months and is well positioned to capitalize on this in the fourth quarter and early 2011.

Year to date, the Company's origination platform has allowed it to identify over 600 transactions from its pool of more than 300 deal sources, and continues to drive a high-quality pipeline of investment opportunities. While the exact timing of closings can be difficult to predict, $40 to $60 million of closings per quarter is a reasonable expectation as the Company continues to deploy capital raised in its initial public offering.

"We are confident that our origination efforts and our prudent investment approach will result in a continued portfolio ramp that will drive strong returns and deliver dividend growth to our stockholders," said Mr. Hunt.

Conference Call

The company will host a conference call to discuss these results on Nov. 10, 2010, at 1 p.m. Eastern Standard 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.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs