Main Street Capital Fixed Income Presentation Deck
LMM Investment Portfolio
LMM investment portfolio
is a pool of high quality,
seasoned assets with
attractive risk-adjusted
return characteristics
Median LMM portfolio credit statistics(¹);
Senior leverage of 2.9x EBITDA through MAIN debt position
2.6x EBITDA to senior interest coverage
Total leverage of 3.1x EBITDA including debt junior in priority to
MAIN
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Average investment size of $26.7 million at fair value or $21.9
million on a cost basis (less than 1% of total investment
portfolio)
MAIN ST
CAPITAL CORPORATION
Opportunistic, selective posture toward new investment activity
over the economic cycle
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Free cash flow de-leveraging improves credit metrics and
increases equity appreciation
High quality, seasoned LMM portfolio
Total LMM portfolio investments at fair value equals 122% of cost
Equity component of LMM portfolio at fair value equals 191% of
cost
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Significant portion of LMM portfolio has de-leveraged and a
majority of the LMM portfolio investments have experienced
equity appreciation
50 LMM portfolio companies with unrealized appreciation on
equity investments
Net unrealized appreciation on LMM Equity investments of
$427.2 million
(1) These credit statistics exclude portfolio companies on non-accrual and four companies for which EBITDA is not a meaningful metric
Main Street Capital Corporation
NYSE: MAIN
mainstcapital.com
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