Daily News: April 18, 2014

Sierra Funded $70MM+ in Originated Investments During Q1/14

Sierra Income Corporation (SIC), a business development company that targets senior secured investments in U.S. middle-market companies, announced that it funded more than $70 million in originated investments during the first quarter of 2014.

Ten originated transactions totaling more than $70 million were added to the portfolio. Highlights include the following:

  • A senior secured first lien term loan made to a provider of mitigation, restoration and ancillary services to single and multi-family prospects, healthcare organizations, schools, municipalities and commercial businesses.
  • A senior secured second lien term loan made to a supplier of branded accessories for light duty truck applications and one of the largest manufacturers of truck accessories in the U.S.
  • A senior secured second lien term loan made to a provider of highly integrated microwave components, assemblies and subsystems for the satellite, defense, wireless infrastructure, medical and industrial electronics end markets.

”We are delighted to report that more than $70 million of originated investments were funded during the first quarter,” said Seth Taube, CEO of SIC. “Our recent ability to co-invest across several funds has allowed us to exploit our proprietary origination network to source attractive investment opportunities in dynamic middle market companies.”