Daily News: May 10, 2017

Monroe Capital Corp BDC Q1 Earnings Up Sequentially


Monroe Capital Corporation’s Q1/17 net investment income of $6 million was up 12% from $5.4 million from the previous quarter. Investments at fair value of $418.1 million were up from $412.9 million sequentially.

The company had debt and equity investments in 65 portfolio companies as of March 31, 2017, as compared to debt and equity investments in 70 portfolio companies as of December 31, 2016. The net increase in net assets resulting from operations was $2.6 million.

CEO Theodore L. Koenig said, “We are pleased to report another quarter of strong earnings for the first 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 12 straight quarters of dividend coverage without a reduction in our quarterly distribution.

“We are also 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 $5.2 million to $418.1 million as of quarter end. Our recently announced upsize to our revolving credit facility, now totaling $200.0 million in commitments, and our access to $55.0 million of additional SBA-guaranteed debentures, will allow us to profitably grow our portfolio and continue to create long term value for our shareholders.”

Monroe Capital Corporation is the business development company affiliate of the private debt investment firm and lender, Monroe Capital LLC.