THL Credit Closes Public Offering Of Common Stock

BOSTON, Sept. 25, 2012 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit") announced today that it has closed its public offering of 6,095,000 shares of its common stock at a public offering price of $14.09 per share, raising $85.9 million in gross proceeds. The 6,095,000 shares of common stock include 795,000 shares from the over-allotment option granted to the underwriters that was exercised in full.  BofA Merrill Lynch, Citigroup, Credit Suisse and RBC Capital Markets acted as joint book-running managers for this offering. BB&T Capital Markets, a division of Scott & Stringfellow, LLC, and JMP Securities acted as co-managers for this offering.

THL Credit intends to use the net proceeds of this offering to repay outstanding indebtedness under its revolving credit facility and for general corporate purposes, including working capital requirements. Through reborrowing under its revolving credit facility, THL Credit intends to invest in debt and equity securities of middle market companies in accordance with its investment objective and strategies.

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 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.  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.

The THL Credit logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12478

FORWARD-LOOKING STATEMENTS

Statements included herein may constitute "forward-looking statements," which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. THL Credit undertakes no duty to update any forward-looking statements made herein.
CONTACT: Investor Contact:         THL Credit, Inc.         Terrence W. Olson         COO & CFO         617-790-6010                  Media Contact:         Sard Verbinnen & Co         Michael Henson         212-687-8080

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