MidCap Financial Investment Corporation reports developments for an externally managed, publicly traded closed-end investment company focused on current income from middle-market credit. The company’s updates center on quarterly financial results, net investment income, net asset value, leverage, dividends, direct origination commitments and fundings, and portfolio activity in first lien senior secured loans to privately held U.S. middle-market companies.
MFIC news also covers capital and balance-sheet actions, including share repurchase activity, senior secured revolving credit facility amendments, credit ratings, board and finance leadership changes, and updates involving portfolio investments such as Merx Aviation Finance.
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MidCap Financial Investment Corporation (NASDAQ: MFIC) has announced the amendment and extension of its senior secured revolving credit facility, maintaining lender commitments at $1.705 billion until December 22, 2024, and reducing to $1.550 billion thereafter. The final maturity date is now April 19, 2028, extended from December 22, 2025. The benchmark rate has shifted from LIBOR to SOFR, with a slight reduction in the spread. CEO Tanner Powell noted that this extension enhances liquidity, while CFO Gregory Hunt highlighted lender support as a sign of confidence in the company’s strategy. The extended facility maintains its material terms, ensuring financial stability for the future.
MidCap Financial Investment Corporation (NASDAQ: MFIC) announced it will report its financial results for Q1 2023 after market close on May 2, 2023. A conference call is scheduled for May 3, 2023, at 8:30 a.m. ET, where stakeholders can discuss the earnings report. The company specializes in investing in first lien senior secured loans to U.S. middle-market firms, primarily focusing on companies with less than $75 million in EBITDA. The firm is externally managed by Apollo Investment Management, aiming to generate current income and long-term capital appreciation.