Main Street Capital Investor Day Presentation Deck
$155.0 Million
Private Loan Case Study - South Coast Terminals (Lead Loan)
Transaction Overview
On December 13, 2021, South Coast Terminals (SCT) closed a $155.0 million senior
secured credit facility consisting of:
December 13, 2021
Senior Secured Credit Facility
G
SouthCoast
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PLATFORM PARTNERS
Sole Arranger
MAIN ST
CAPITAL CORPORATION
MAIN ST
CAPITAL CORPORATION
Note: Past performance does not guarantee future results
Main Street Capital Corporation
$15.0 million cash flow Revolver (pari with the First Lien Term Loan, undrawn at
close)
$140.0 million First Lien Term Loan (the Term Loan)
Main Street Capital served as the sole lead arranger in the financing process
At close, Main Street held $5.4 million of the Revolver and $50.7 million of the Term
Loan and funds managed by Main Street held $4.7 million of the Revolver and $44.2
million of the Term Loan while syndicating $4.8 million of the Revolver and $45.2 million
of the Term Loan to two other parties
In conjunction with the credit facility, Main Street and funds managed by Main
Street participated in equity co-invest of ~$0.9 million and ~$0.1 million,
respectively
Shortly after close, Main Street sold $1.0 million of the Revolver and $9.0 million of the
Term Loan to a direct lender via assignment
Main Street generated $100K in syndication fees through this transaction
Main Street allocated ~$0.5 million of the Revolver, $4.5 million of the Term Loan, and
-$75.8K of the equity co-invest to Private Loan Fund I on the December 13th close
Company Overview
SCT is one of the largest independent contract manufacturers of specialty chemicals and lubricant additives with three locations on the
Gulf coast; SCT provides services ranging from chemical processing, and warehouse handling
SCT has successfully built out blending facilities that are equipped to handle the long-term production of certain lubricants and additives;
this has allowed SCT to invest in capex to commercialize existing products and develop the back-end for new products and establish long-
standing customer contracts with the major specialty chemical players
NYSE: MAIN
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