Main Street Capital Fixed Income 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
●
Investments in secured and/or rated debt investments
First lien, senior secured debt investments
Floating rate debt investments
●
Large and critical portion of U.S. economy
220,000+ domestic Middle Market businesses(1)
MAIN ST
Larger companies than the LMM investment strategy
• Current Middle Market portfolio companies have weighted-average
EBITDA of approximately $67.6 million
●
CAPITAL CORPORATION
●
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 (3³)
(1)
(2) Weighted-average effective yield is calculated using the applicable interest rate as of June 30, 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) The defined term and additional details for the Credit Facilities is included on page
Main Street Capital Corporation
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
NYSE: MAIN
mainstcapital.com
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