BDCs

BDC Quick Recap: MidCap Financial Investment Corp. (MFIC) as of March 31st, 2023

MidCap Financial Investment Corp. (MFIC) filed its earnings yesterday 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 March 31st, 2023.

Portfolio Stats

FMV $2.45M
# of Investments 309
Total unused commitments to extend financing $363.8M
Portfolio Companies 167
   

Portfolio Composition

First Lien 80.00%
Second Lien 3.10%
Equity and Other 16.90%

Source: SOLVE Fixed Income, MidCap Financial Investment Corp. (MFIC)

Portfolio Credit Quality

Non-Accruals Cost $25.8M
# of Non-Accruals 5
# of Portfolio at Cost 0.90%
New Non-Accruals N/A

Source: SOLVE Fixed Income, MidCap Financial Investment Corp. (MFIC)

Select New Originations

Company Investment Type Industry Cost Maturity Coupon
Litify LLC First Lien Secured Debt High Tech Industries $11.3M 2/3/2029 S+725
Pavement Partners Interco LLC First Lien Secured Debt Construction & Building $9.8M 2/7/2028 S+675
Cave Enterprises Operations LLC First Lien Secured Debt Hotel, Gaming, Leisure, Restaurants $8.5M 8/9/2028 S+650

Source: SOLVE Fixed Income, MidCap Financial Investment Corp. (MFIC)

Exits & Sales

Company Investment Type Industry Net Proceeds Maturity Coupon
Erickson Inc First Lien Secured Debt-Revolver Aerospace & Defense $13.7M 5/20/2024 S+800
Liqui-Box Holdings Inc First Lien Secured Debt-Revolver Consumer Goods – Durable $1.8M 2/26/2025 L+450

Source: SOLVE Fixed Income, MidCap Financial Investment Corp. (MFIC)

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