NEW YORK--(BUSINESS WIRE)--Sierra Income Corporation (“SIC”), a business development company that targets senior secured investments in US middle market companies, today announced that it has invested approximately $190 million in originated transactions during the second quarter of 2015.
Multiple originated transactions totaling approximately $190 million were added to the portfolio. Highlights include the following:
- A senior secured 1st lien term loan made to a premier online retailer
- A senior secured 1st lien term loan made to a leading restaurant operator
- A senior secured 1st lien term loan made to a global IT services and software provider
- A senior secured 1st lien term loan made to a specialty automotive supplier
Seth Taube, CEO of Sierra Income Corporation, commented, “The second quarter was Sierra’s most active quarter since inception, with the addition of approximately $190 million in originated investments to our portfolio. We are thrilled with the quarter and attribute Sierra’s continued success to our national direct origination network and its ability to source high quality investment opportunities.”
About Sierra Income Corporation
Sierra is a non-traded Business Development Company (“BDC”) that invests primarily in first lien senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt of middle market companies in a broad range of industries with annual revenue between $50 million and $1 billion. The Company’s investment objective is to generate current income, and to a lesser extent, long-term capital appreciation. Sierra’s investment activities are managed by its investment adviser, SIC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.
About SIC Advisors LLC
SIC Advisors LLC is an affiliate of Medley LLC (“Medley”). Medley invests in middle market companies with $50 million to $1 billion in revenues through direct private lending and corporate credit investment strategies. Medley has in excess of $3.9 billion of assets under management in two business development companies, Medley Capital Corporation (NYSE: MCC) and the Sierra Income Corporation, as well as private investment vehicles. Over the past 13 years, Medley has invested in excess of $5.3 billion to help over 290 companies grow across 35 industries in North America.
This press release contains forward-looking statements within the meaning of the federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will" and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. The Company undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in the Company's expectations.