Main Street Capital Investor Presentation Deck
Middle Market Debt Investment Strategy
MAIN maintains a portfolio
of debt investments in
Middle Market companies
Investment Objective
• Generate cash yield to support MAIN monthly dividend
●
MAIN ST
Investments in secured and/or rated debt investments
First lien, senior secured debt investments
Floating rate debt investments
●
CAPITAL CORPORATION
Larger companies than the LMM investment strategy
• Current Middle Market portfolio companies have weighted-average
EBITDA of approximately $65.4 million
●
Large and critical portion of U.S. economy
220,000+ domestic Middle Market businesses (1)
More relative liquidity than LMM and Private Loan investments
6% - 10% targeted gross yields
• Weighted-average effective yield of 11.8% (2)
Net returns positively impacted by lower overhead requirements
and modest use of leverage
Floating rate debt investments provide matching with MAIN's
floating rate Credit Facilities (3)
(1)
(2) Weighted-average effective yield is calculated using the applicable interest rate as of March 31, 2023 and includes amortization of deferred debt origination fees and accretion of
original issue discount, but excludes fees payable upon repayment of the debt instruments and any debt investments on non-accrual status
(3) Includes MAIN's Credit Facilities as defined on page 11; see additional details on page 42
Main Street Capital Corporation
NYSE: MAIN
Source: U.S. Census 2017 - U.S. Data Table by Enterprise Receipt Size; 2017 County Business Patterns and 2017 Economic Census; includes Number of Firms with Enterprise
Receipt Size between $10,000,000 and $1,000,000,000
mainstcapital.com
Page 12View entire presentation