BDCs
BDC Quick Recap: MidCap Financial Investment Corp. (MFIC) as of December 31st, 2022
MidCap Financial Investment Corp. (MFIC) filed its earnings Tuesday afternoon and data was available in SOLVE’s BDC workstation within minutes. Here is a quick recap of the credit stats for MidCap Financial Investment Corp. (MFIC) for the three-month period ended Dec. 31st, 2022.
Portfolio Stats
| FMV | $2.4B |
| # of Investments | 285 |
| Total unused commitments to extend financing | $399.8M |
| Portfolio Companies | 135 |
| Portfolio Composition | |
| First Lien | 82.00% |
| Second Lien | 4.10% |
| Equity and Other | 13.90% |
Source: SOLVE Fixed Income, MidCap Financial Investment Corp. (MFIC)
Portfolio Credit Quality
| Non-Accruals Cost | $49.4M |
| # of Non-Accruals | 6 |
| # of Portfolio at Cost | 1.90% |
| New Non-Accruals | N/A |
Source: SOLVE Fixed Income, MidCap Financial Investment Corp. (MFIC)
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
| CNSI Holdings LLC | First Lien Secured Debt | Healthcare & Pharmaceuticals | $17.4M | 12/17/2028 | S+650 |
| FC2 LLC | Secured Debt-Promissory Note | Chemicals, Plastics & Rubber | $12.5M | 10/14/2027 | – |
| ViewRay Inc | First Lien Secured Debt | Healthcare & Pharmaceuticals | $12.4M | 11/1/2027 | P+350 |
Source: SOLVE Fixed Income, MidCap Financial Investment Corp. (MFIC)
Exits & Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
| NW Entertainment Inc | First Lien Secured Debt | Media – Diversified & Production | $29.5M | 8/16/2024 | L+750 |
| Keystone Acquisition Corp | First Lien Secured Debt | Healthcare & Pharmaceuticals | $11.8M | 1/26/2029 | L+575 |
| Kindeva Drug Delivery LP | First Lien Secured Debt | Healthcare & Pharmaceuticals | $9.2M | 5/1/2026 | L+600 |
Source: SOLVE Fixed Income, MidCap Financial Investment Corp. (MFIC)
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