Attached files

file filename
EX-32.3 - EX-32.3 - THL Credit, Inc.tcrd-ex323_6.htm
EX-32.2 - EX-32.2 - THL Credit, Inc.tcrd-ex322_7.htm
EX-32.1 - EX-32.1 - THL Credit, Inc.tcrd-ex321_9.htm
EX-31.3 - EX-31.3 - THL Credit, Inc.tcrd-ex313_8.htm
EX-31.2 - EX-31.2 - THL Credit, Inc.tcrd-ex312_10.htm
EX-31.1 - EX-31.1 - THL Credit, Inc.tcrd-ex311_11.htm

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended September 30, 2017

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from                       to                     

Commission file number 814-00789

 

THL CREDIT, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

 

 

Delaware

 

27-0344947

(State or Other Jurisdiction of

Incorporation or Organization)

 

(I.R.S. Employer

Identification No.)

 

 

 

100 Federal St., 31st Floor, Boston, MA

 

02110

(Address of Principal Executive Offices)

 

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 800-450-4424

Securities registered pursuant to 12(b) of the Act:

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

 

Accelerated filer

 

 

 

 

 

 

 

 

Non-Accelerated filer

 

  (Do not check if a smaller reporting company)

 

Smaller reporting company

 

 

 

 

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).    Yes      No  

The number of shares of the registrant’s common stock, $0.001 par value per share, outstanding at November 9, 2017 was 32,673,590.

 

 

 

 

 


 

THL CREDIT, INC.

FORM 10-Q FOR THE QUARTER ENDED September 30, 2017

Table of Contents

 

 

 

INDEX

 

PAGE
NO.

PART I.

  

FINANCIAL INFORMATION

  

 

 

 

 

 

 

Item 1.

 

Financial Statements

 

 

 

 

 

 

 

 

 

Consolidated Statements of Assets and Liabilities as of September 30, 2017 (unaudited) and December 31, 2016

 

3

 

 

 

 

 

 

 

Consolidated Statements of Operations for the three and nine months ended September 30, 2017 and 2016 (unaudited)

 

4

 

 

 

 

 

 

 

Consolidated Statements of Changes in Net Assets for the nine months ended September 30, 2017 and 2016 (unaudited)

 

5

 

 

 

 

 

 

 

Consolidated Statements of Cash Flows for the nine months ended September 30, 2017 and 2016 (unaudited)

 

6

 

 

 

 

 

 

 

Consolidated Schedules of Investments as of September 30, 2017 (unaudited) and December 31, 2016

 

7

 

 

 

 

 

 

 

Notes to Consolidated Financial Statements (unaudited)

 

24

 

 

 

 

 

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

66

 

 

 

 

 

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

 

108

 

 

 

 

 

Item 4.

 

Controls and Procedures

 

109

 

 

 

 

 

PART II.

 

OTHER INFORMATION

 

110

 

 

 

 

 

Item 1.

 

Legal Proceedings

 

110

 

 

 

 

 

Item 1A.

 

Risk Factors

 

110

 

 

 

 

 

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds

 

110

 

 

 

 

 

Item 3.

 

Defaults Upon Senior Securities

 

110

 

 

 

 

 

Item 4.

 

Mine Safety Disclosures

 

110

 

 

 

 

 

Item 5.

 

Other Information

 

110

 

 

 

 

 

Item 6.

 

Exhibits

 

111

 

 

 

 

 

SIGNATURES

 

112

 

2


 

THL Credit, Inc. and Subsidiaries

Consolidated Statements of Assets and Liabilities

(in thousands, except per share data)

(unaudited)

 

 

September 30, 2017

 

 

December 31, 2016

 

Assets:

 

 

 

 

 

 

 

Investments at fair value:

 

 

 

 

 

 

 

Non-controlled, non-affiliated  investments (cost of $485,847 and $519,837, respectively)

$

473,443

 

 

$

501,992

 

Controlled investments (cost of $167,062 and $150,765, respectively)

 

179,972

 

 

 

167,207

 

Non-controlled, affiliated investments  (cost of $4 and $4, respectively)

 

4

 

 

 

4

 

Cash

 

3,545

 

 

 

6,376

 

Interest, dividends, and fees receivable

 

10,562

 

 

 

9,041

 

Deferred financing costs

 

2,007

 

 

 

2,527

 

Deferred tax assets

 

5,327

 

 

 

2,442

 

Prepaid expenses and other assets

 

1,629

 

 

 

1,225

 

Due from affiliate

 

475

 

 

 

590

 

Total assets

$

676,964

 

 

$

691,404

 

Liabilities:

 

 

 

 

 

 

 

Loans payable ($187,360 and $182,862 face amounts, respectively, reported net of deferred

   financing costs of $1,012 and $1,207, respectively. See Note 7)

$

186,348

 

 

$

181,655

 

Notes payable ($110,000 and $110,000 face amounts, respectively, reported net of deferred

   financing costs of $3,153 and $3,653, respectively. See Note 7)

 

106,847

 

 

 

106,347

 

Deferred tax liability

 

4,944

 

 

 

4,518

 

Accrued incentive fees

 

1,156

 

 

 

3,243

 

Base management fees payable

 

2,621

 

 

 

2,608

 

Accrued expenses and other payables

 

2,054

 

 

 

1,701

 

Income taxes payable

 

728

 

 

 

-

 

Accrued interest and fees

 

729

 

 

 

961

 

Other deferred liabilities

 

141

 

 

 

501

 

Interest rate derivative

 

 

 

 

50

 

Total liabilities

 

305,568

 

 

 

301,584

 

Commitments and contingencies (Note 9)

 

 

 

 

 

 

 

Net Assets:

 

 

 

 

 

 

 

Common stock, par value $.001 per share, 100,000 common shares authorized, 32,674 and 32,925

   shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively

 

33

 

 

 

33

 

Paid-in capital in excess of par

 

435,111

 

 

 

437,623

 

Net unrealized depreciation on investments, net of provision for taxes of $1,395 and $3,656,

   respectively

 

(2,695

)

 

 

(5,197

)

Net unrealized depreciation on interest rate derivative

 

 

 

 

(50

)

Accumulated net realized losses

 

(75,074

)

 

 

(51,732

)

Accumulated undistributed net investment income

 

13,029

 

 

 

8,428

 

Total net assets attributable to THL Credit, Inc.

 

370,404

 

 

 

389,105

 

Net assets attributable to non-controlling interest

 

992

 

 

 

715

 

Total net assets

$

371,396

 

 

$

389,820

 

Total liabilities and net assets

$

676,964

 

 

$

691,404

 

Net asset value per share attributable to THL Credit, Inc.

$

11.34

 

 

$

11.82

 

 

See accompanying notes to these consolidated financial statements.

3


 

 

THL Credit, Inc. and Subsidiaries

Consolidated Statements of Operations

(in thousands, except per share data)

(unaudited)

 

 

 

For the three months ended

September 30,

 

 

For the nine months ended

September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Investment Income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

From non-controlled, non-affiliated investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

$

13,510

 

 

$

16,790

 

 

$

41,245

 

 

$

51,642

 

Dividend income

 

 

 

 

 

73

 

 

 

139

 

 

 

147

 

Other income

 

 

418

 

 

 

443

 

 

 

1,913

 

 

 

1,499

 

From non-controlled, affiliated investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income

 

 

279

 

 

 

373

 

 

 

820

 

 

 

1,238

 

From controlled investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

2,080

 

 

 

1,164

 

 

 

5,727

 

 

 

2,336

 

Dividend income

 

 

3,683

 

 

 

2,685

 

 

 

9,924

 

 

 

7,641

 

Other income

 

 

141

 

 

 

38

 

 

 

423

 

 

 

113

 

Total investment income

 

 

20,111

 

 

 

21,566

 

 

 

60,191

 

 

 

64,616

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and fees on borrowings

 

 

4,023

 

 

 

3,484

 

 

 

11,836

 

 

 

10,488

 

Base management fees

 

 

2,621

 

 

 

2,678

 

 

 

7,834

 

 

 

8,390

 

Incentive fees

 

 

811

 

 

 

2,624

 

 

 

3,276

 

 

 

2,654

 

Administrator expenses

 

 

670

 

 

 

888

 

 

 

2,207

 

 

 

2,708

 

Other general and administrative expenses

 

 

462

 

 

 

542

 

 

 

1,508

 

 

 

1,720

 

Amortization of deferred financing costs

 

 

409

 

 

 

389

 

 

 

1,214

 

 

 

1,157

 

Professional fees

 

 

818

 

 

 

350

 

 

 

1,522

 

 

 

1,180

 

Directors' fees

 

 

169

 

 

 

168

 

 

 

518

 

 

 

578

 

Total expenses before incentive fee waivers

 

 

9,983

 

 

 

11,123

 

 

 

29,915

 

 

 

28,875

 

Incentive fee waiver (Note 4)

 

 

(811

)

 

 

 

 

 

(811

)

 

 

 

Total expenses, net of incentive fee waivers

 

 

9,172

 

 

 

11,123

 

 

 

29,104

 

 

 

28,875

 

Income tax provision (benefit), excise and other taxes

 

 

(215

)

 

 

(52

)

 

 

90

 

 

 

184

 

Net investment income

 

 

11,154

 

 

 

10,495

 

 

 

30,997

 

 

 

35,557

 

Realized Gain (Loss) and Change in Unrealized Appreciation on

   Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net realized (loss) gain on investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

(11,324

)

 

 

(25,100

)

 

 

(22,230

)

 

 

(27,064

)

Controlled investments

 

 

 

 

 

120

 

 

 

 

 

 

(10,767

)

Foreign currency transactions

 

 

6

 

 

 

 

 

 

(68

)

 

 

 

Net realized loss on investments

 

 

(11,318

)

 

 

(24,980

)

 

 

(22,298

)

 

 

(37,831

)

Net change in unrealized (depreciation) appreciation on investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

10,421

 

 

 

20,021

 

 

 

5,165

 

 

 

(6,765

)

Controlled investments

 

 

(5,795

)

 

 

4,654

 

 

 

(3,533

)

 

 

18,983

 

Translation of assets and liabilities in foreign currencies

 

 

(869

)

 

 

 

 

 

(1,389

)

 

 

 

Net change in unrealized appreciation on investments

 

 

3,757

 

 

 

24,675

 

 

 

243

 

 

 

12,218

 

Net change in unrealized appreciation attributable to non-controlling interests

 

 

162

 

 

 

 

 

 

276

 

 

 

 

Net realized and unrealized loss from investments

 

 

(7,399

)

 

 

(305

)

 

 

(21,779

)

 

 

(25,613

)

Provision for taxes on realized gain on investments

 

 

(7

)

 

 

 

 

 

(842

)

 

 

 

Benefit (provision) for taxes on unrealized gain on investments

 

 

365

 

 

 

(381

)

 

 

2,261

 

 

 

(588

)

Benefit (provision) for taxes on realized and unrealized gain on investments

 

 

358

 

 

 

(381

)

 

 

1,419

 

 

 

(588

)

Interest rate derivative periodic interest payments, net

 

 

 

 

 

(66

)

 

 

(46

)

 

 

(232

)

Net change in unrealized appreciation on interest rate derivative

 

 

 

 

 

144

 

 

 

50

 

 

 

104

 

Net increase in net assets resulting from operations

 

$

4,113

 

 

$

9,887

 

 

$

10,641

 

 

$

9,228

 

Net investment income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

0.34

 

 

$

0.32

 

 

$

0.94

 

 

$

1.07

 

Net increase in net assets resulting from operations per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

0.13

 

 

$

0.30

 

 

$

0.33

 

 

$

0.28

 

Dividends declared and paid

 

$

0.27

 

 

$

0.34

 

 

$

0.81

 

 

$

1.02

 

Weighted average shares of common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

32,722

 

 

 

33,169

 

 

 

32,839

 

 

 

33,235

 

 

See accompanying notes to these consolidated financial statements.

 

4


 

THL Credit, Inc. and Subsidiaries

Consolidated Statements of Changes in Net Assets

(in thousands)

(unaudited)

 

 

 

For the nine months ended

September 30,

 

 

 

2017

 

 

2016

 

Increase in net assets from operations:

 

 

 

 

 

 

 

 

Net investment income

 

$

30,997

 

 

$

35,557

 

Net realized loss on investments

 

 

(22,298

)

 

 

(37,831

)

Net change in unrealized appreciation on investments

 

 

243

 

 

 

12,218

 

Provision for taxes on realized gain on investments

 

 

(842

)

 

 

 

Net change in unrealized (depreciation) appreciation attributable to non-controlling

   interests

 

 

276

 

 

 

 

Benefit (provision) for taxes on unrealized gain on investments

 

 

2,261

 

 

 

(588

)

Interest rate derivative periodic interest payments, net

 

 

(46

)

 

 

(232

)

Net change in unrealized appreciation on interest rate derivative

 

 

50

 

 

 

104

 

Net increase in net assets resulting from operations

 

 

10,641

 

 

 

9,228

 

Distributions to stockholders:

 

 

 

 

 

 

 

 

Distributions to stockholders from net investment income

 

 

(26,575

)

 

 

(33,880

)

Total distributions to stockholders

 

 

(26,575

)

 

 

(33,880

)

Capital share transactions:

 

 

 

 

 

 

 

 

Issuance of common stock from reinvestment of dividend

 

 

3

 

 

 

 

Repurchase of common stock

 

 

(2,493

)

 

 

(1,537

)

Net decrease in net assets from capital share transactions

 

 

(2,490

)

 

 

(1,537

)

Total decrease in net assets

 

 

(18,424

)

 

 

(26,189

)

Net assets at beginning of period

 

 

389,820

 

 

 

418,899

 

Net assets at end of period

 

$

371,396

 

 

$

392,710

 

Common shares outstanding at end of period

 

 

32,674

 

 

 

33,169

 

Capital share activity:

 

 

 

 

 

 

 

 

Shares issued from reinvestment of dividend

 

 

 

 

 

 

Shares repurchased

 

 

252

 

 

 

142

 

 

See accompanying notes to these consolidated financial statements.

5


 

THL Credit, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

 

 

For the nine months ended

September 30,

 

 

 

2017

 

 

2016

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net increase in net assets resulting from operations

 

$

10,641

 

 

$

9,228

 

Adjustments to reconcile net increase in net assets resulting from operations to net cash (used in)

   provided by operating activities:

 

 

 

 

 

 

 

 

Net change in unrealized appreciation on investments

 

 

(519

)

 

 

(12,218

)

Net change in unrealized appreciation on interest rate derivative

 

 

(50

)

 

 

(104

)

Net realized loss on investments

 

 

22,819

 

 

 

37,977

 

Net realized gain on foreign exchange currency transactions

 

 

(5

)

 

 

 

Increase in investments due to PIK

 

 

(2,082

)

 

 

(1,501

)

Amortization of deferred financing costs

 

 

1,214

 

 

 

1,157

 

Accretion of discounts on investments and other fees

 

 

(3,643

)

 

 

(3,393

)

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Purchases of investments

 

 

(90,421

)

 

 

(96,142

)

Proceeds from sale and paydown of investments

 

 

90,457

 

 

 

156,804

 

Increase in interest, dividends and fees receivable

 

 

(1,521

)

 

 

(1,274

)

Decrease in due from affiliate

 

 

115

 

 

 

197

 

Increase (decrease) in prepaid expenses and other assets

 

 

310

 

 

 

372

 

Increase in income taxes payable

 

 

728

 

 

 

 

Increase in deferred tax asset

 

 

(2,885

)

 

 

(285

)

Increase (decrease) in accrued expenses and other payables

 

 

338

 

 

 

(145

)

(Decrease) increase in accrued credit facility fees and interest

 

 

(232

)

 

 

480

 

Increase in deferred tax liability

 

 

426

 

 

 

503

 

Increase (decrease) in base management fees payable

 

 

13

 

 

 

(266

)

Decrease in other deferred liabilities

 

 

(360

)

 

 

(125

)

Decrease in accrued incentive fees payable, net

 

 

(2,087

)

 

 

(325

)

Net cash provided by operating activities

 

 

23,256

 

 

 

90,940

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Repurchase of common stock

 

 

(2,493

)

 

 

(1,537

)

Borrowings under credit facility

 

 

85,860

 

 

 

98,250

 

Repayments under credit facility

 

 

(82,750

)

 

 

(153,250

)

Issuance of shares of common stock from dividend reinvestment

 

 

3

 

 

 

 

Distributions paid to stockholders

 

 

(26,575

)

 

 

(33,880

)

Financing and offering costs paid

 

 

(132

)

 

 

(110

)

Net cash used in financing activities

 

 

(26,087

)

 

 

(90,527

)

Net (decrease) increase in cash

 

 

(2,831

)

 

 

413

 

Cash, beginning of period

 

 

6,376

 

 

 

3,850

 

Cash, end of period

 

$

3,545

 

 

$

4,263

 

Supplemental Disclosure of Cash Flow Information:

 

 

 

 

 

 

 

 

Cash interest paid

 

 

10,530

 

 

 

9,340

 

Income taxes paid

 

 

24

 

 

 

1

 

PIK income earned

 

 

1,786

 

 

 

1,733

 

Non-cash Operating Activities:

For the nine months ended September 30, 2017 and 2016, 0.3 shares and 0 shares of common stock were issued in connection with dividend reinvestments of $3 and $0, respectively.

See Note 5 in the notes to consolidated financial statements for non-cash restructurings.

See accompanying notes to these consolidated financial statements.

 

 

6


 

THL Credit, Inc. and Subsidiaries

Consolidated Schedules of Investments

September 30, 2017

(dollar amounts in thousands)

(unaudited)

 

 

 

 

 

 

 

 

 

Initial

 

Maturity/

 

Principal(5)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition

 

Dissolution

 

No. of Shares /

 

 

 

 

 

 

 

 

 

Type of Investment/Portfolio company (1)(2)(3)

 

Industry

 

Interest Rate(4)

 

 

Date

 

Date

 

No. of Units

 

 

Amortized Cost

 

 

Fair Value (6)

 

Non-controlled/non-affiliated investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

— 127.48% of net asset value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First lien senior secured debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—100.24% of net asset value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Canada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—6.27% of net asset value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fairstone Financial Inc. (7)(17)(27)

 

Financial services

 

12% (CDOR + 11%)

 

 

3/31/2017

 

3/31/2023

 

$

23,527

 

 

$

22,082

 

 

$

23,292

 

 

 

 

 

 

 

 

 

Subtotal Canada

 

$

23,527

 

 

$

22,082

 

 

$

23,292

 

Midwest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—10.07% of net asset value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BeneSys Inc.

 

Business services

 

11.6% (LIBOR + 10.3%)

 

 

3/31/2014

 

3/31/2019

 

$

10,854

 

 

$

10,793

 

 

$

10,854

 

BeneSys Inc. (9)

 

Business services

 

11.6% (LIBOR + 10.3%)

 

 

8/1/2014

 

3/31/2019

 

 

436

 

 

 

433

 

 

 

436

 

Home Partners of America, Inc. (17)

 

Consumer services

 

8.2% (LIBOR + 7%)

 

 

10/13/2016

 

10/13/2022

 

 

13,669

 

 

 

13,439

 

 

 

13,737

 

Matilda Jane Holdings, Inc.

 

Consumer products

 

9.7% (LIBOR + 8.5%)

 

 

5/1/2017

 

5/1/2022

 

 

12,548

 

 

 

12,289

 

 

 

12,360

 

 

 

 

 

 

 

 

 

Subtotal midwest

 

$

37,507

 

 

$

36,954

 

 

$

37,387

 

Northeast

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

—33.46% of net asset value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerogroup International Inc.

 

Consumer products

 

9.8% (LIBOR + 8.5%)

 

 

6/9/2014

 

12/9/2019

 

$

13,102

 

 

$

12,993

 

 

$

12,447

 

Alex Toys, LLC

 

Consumer products

 

11.8% (LIBOR + 10.5%)

 

 

6/30/2014

 

8/15/2019

 

 

30,201

 

 

 

29,924

 

 

 

30,201

 

Anexinet Corp.

 

IT services

 

7.7% (LIBOR + 6.5%)

 

 

7/28/2017

 

7/28/2022

 

 

17,611

 

 

 

17,271

 

 

 

17,271

 

Constructive Media, LLC

 

Media, entertainment and leisure

 

11.3% (LIBOR + 10%)

 

 

11/23/2015

 

11/23/2020

 

 

12,173

 

 

 

12,018

 

 

 

11,564

 

Dodge Data & Analytics LLC

 

IT services

 

10.1% (LIBOR + 8.8%)

 

 

11/20/2014

 

10/31/2019

 

 

10,684

 

 

 

10,591

 

 

 

10,631

 

Duff & Phelps Corporation (8)

 

Financial services

 

5.1% (LIBOR + 3.8%)

 

 

5/15/2013

 

4/23/2020

 

 

239

 

 

 

241

 

 

 

241

 

HealthDrive Corporation