Daily News: August 10, 2017

Monroe Capital BDC Q2 Earnings, Investments Up Sequentially

Monroe Capital‘s Q2/17 net investment income of $6.1 million was up 9% from $6.0 million the previous quarter. Investments at fair value of $445.5 million were up from $418.1 million sequentially.

The company had debt and equity investments in 67 portfolio companies with a total fair value of $445.5 million as of June 30, 2017, as compared to debt and equity investments in 65 portfolio companies, as of March 31, 2017. The net increase in net assets resulting from operations was $1.0 million.

“We are pleased to report another quarter of strong earnings for the second quarter of 2017, with adjusted net investment income of $0.35 per share, once again covering our first quarter dividend of $0.35 per share and representing the 13th straight quarter where per share adjusted net investment income met or exceeded our quarterly dividend per share,” said Monroe CEO Theodore L. Koenig. “We have also made our 19th consecutive quarterly dividend payment to our shareholders without any reduction in our distributions. We are pleased to have been able to continue to grow the portfolio during the quarter despite seeing a significant amount of prepayment activity, increasing our portfolio by $27.4 million to $445.5 million as of quarter end. During the quarter we completed an equity capital raise which generated net proceeds of approximately $49.6 million. This equity capital raise combined with our available capacity on our revolving credit facility and our access to $29.4 million in additional SBS-guaranteed debentures, will allow us to continue to grow our portfolio and create long term value for our shareholders.”