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TheStreet Open House

THL Credit Closes Five New Investments; Discloses Recent Realizations

Stocks in this article: TCRD

SALE OF BROADLY SYNDICATED LOANS

In October 2012, THL Credit invested in an aggregate of $24.0 million of broadly syndicated first lien secured term loans in five companies for short term investment purposes, leveraging certain credit resources of THL Credit Senior Loan Strategies LLC, a subsidiary of THL Credit's external manager, THL Credit Advisors LLC.  THL Credit exited these loan investments in the fourth quarter of 2012 and used the proceeds for new junior capital investments. A return to shareholders, including gains and interest, of approximately $0.6 million was realized in the sale of these loans.

About THL Credit

THL Credit is an externally-managed, non-diversified closed-end management investment company that has elected 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 is headquartered in Boston, with additional investment teams in Los Angeles and Houston.  THL Credit invests primarily in junior capital securities, including subordinated, or mezzanine, debt and second lien secured debt, which junior capital may include an associated equity component such as warrants, preferred stock or other similar securities.  THL Credit may also selectively invest in first lien senior secured loans that generally have structures with higher interest rates, which include unitranche investments. In certain instances, THL Credit will also make direct equity investments and may also selectively invest in more liquid broadly syndicated loans from time to time. THL Credit targets investments in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions.  THL Credit's investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.

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