Daily News: July 3, 2014

Sierra Funds More Than $90MM in Originated Transactions in Q2/14

Sierra Income announced it invested more than $90 million in originated transactions during Q2/14.

Ten originated transactions totaling more than $90 million were added to the portfolio. Highlights include:

  • A senior secured 1st lien term loan and equity investment made to a developer and value-added manufacturer of specially formulated, science-based nutraceutical products.
  • A senior secured 1st lien term loan made to a restaurant management company operating more than 200 locations, primarily in the Western U.S.
  • A senior secured 2nd lien term loan made to a leading manufacturer and distributor of aftermarket parts and accessories for the motorcycle and power sports industries.
  • ”We are pleased to report that more than $90 million of originated investments were added to the portfolio during the second quarter”, said Seth Taube, CEO of Sierra Income Corporation. “We continue to successfully leverage our proprietary origination network to source attractive senior secured investment opportunities in middle market debt. The growth of our lending portfolio, combined with our ability to co-invest among funds, allow us the ability to provide innovative financing solutions to a broad range of dynamic middle market companies.”