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 3.0x EBITDA through MAIN debt position
2.4x EBITDA to senior interest coverage
Total leverage of 3.0x EBITDA including debt junior in priority to
MAIN
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MAIN ST
CAPITAL CORPORATION
Average investment size of $27.5 million at fair value or $21.8
million on a cost basis (less than 1% of total investment
portfolio)
Free cash flow de-leveraging improves credit metrics and
increases equity appreciation
Opportunistic, selective posture toward new investment activity
over the economic cycle
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High quality, seasoned LMM portfolio
Total LMM portfolio investments at fair value equals 126% of cost
• Equity component of LMM portfolio at fair value equals 196% 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
48 LMM portfolio companies with unrealized appreciation on
equity investments
Net unrealized appreciation on LMM Equity investments of
$460.6 million
(1) These credit statistics exclude portfolio companies on non-accrual and two companies for which EBITDA is not a meaningful metric
Main Street Capital Corporation
NYSE: MAIN
mainstcapital.com
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