Main Street Investor Presentation
Middle Market Investment Portfolio
MAINST
CAPITAL CORPORATION
Middle Market
Investment Portfolio
provides a diversified
mix of investments and
diverse sources of
income to complement
the LMM Investment
Portfolio and a potential
source of liquidity for
MAIN's future
investment activities
44 investments/ $410.5 million in fair value
17% of total investment portfolio at fair value
Average investment size of $11.7 million(1) (less than 1% of total
portfolio)
Investments in secured and/or rated debt investments
•
94% of Middle Market portfolio is secured debt
• 92% of Middle Market debt portfolio is first lien term debt
Debt yielding 7.7% (2)
95% of Middle Market debt investments bear interest at floating
rates(3), providing matching with MAIN's floating rate credit facility
Approximately 500 basis point net cash interest margin vs
"matched" floating rate on the MAIN credit facility
More investment liquidity compared to LMM
(1) As of June 30, 2020; based on cost
(2) Weighted-average effective yield 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) 74% of floating interest rates on Middle Market debt investments are subject to contractual minimum "floor" rates
Main Street Capital Corporation
NYSE: MAIN
mainstcapital.com
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