This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

THL Credit Announces Second Quarter 2013 Financial Results

Stocks in this article: TCRD

BOSTON, Aug. 6, 2013 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit" or the "Company"), a direct lender to middle market companies, today announced financial results for its fiscal second quarter ended June 30, 2013. Additionally, THL Credit announced that its Board of Directors has declared a third fiscal quarter 2013 dividend of $0.34 per share and a special dividend of $0.08 per share both payable on September 30, 2013, to stockholders of record as of September 16, 2013.

($ in millions, except per share amounts)  
Portfolio results As of June 30 , 2013  
Total assets $555.0  
Investment portfolio, at fair value $507.1  
Net assets $460.3  
Net asset value per share $13.58  
Weighted average yield on investments 12.8%  
  Quarter ended June 30 , 2013 Quarter ended June 30, 2012
Portfolio activity  
Total investments made, at par $142.3 $66.8
Number of new portfolio companies 6 6
Number of portfolio companies at end of period 46 30
Operating results    
Total investment income $22.7 $11.8
Net investment income $13.3 $6.5
Net increase in net assets from operations $15.6 $6.0
Net investment income per share $0.49 $0.32
Dividends declared per share $0.34 $0.30

"We are very pleased with our second quarter results, which included $76 million of net portfolio growth, higher than anticipated incremental earnings in connection with the realization of equity positions in Surgery and Yellow Pages and a successful equity offering completed in June," said James K. Hunt, chief executive officer of THL Credit. "We made $142 million of investments and received $73 million in proceeds from investment repayments, sales and recapitalizations, including $7 million of proceeds from Yellow Pages and Surgery that have been reflected as dividends and realized gains this quarter. Our continued growth is supported by access to the full $170 million of borrowing capacity of our revolving credit facility providing us ample liquidity. To further expand our active pipeline of investment opportunities, I am pleased to announce the addition of Monty Cook as a managing director in our New York office and the addition of Dan Letizia as director and Chris Babick as vice-president in our Chicago office. With a presence in five major financial regions in the country, we are well positioned for future growth."

1 of 9

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,574.57 +217.70 1.25%
S&P 500 2,034.30 +21.41 1.06%
NASDAQ 4,697.1520 +52.84 1.14%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs