Release details

2017-09-08 23:15 CEST
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Medley Capital Corporation Amends Credit Facility and Partially Prepays Term Loan

NEW YORK, NY (September 8, 2017) - Medley Capital Corporation (NYSE: MCC) (the "Company") today announced the amendment of the Company's Senior Secured Credit Facilities ("Credit Facilities") as well as the voluntary partial prepayment of the Company's Term Loan Credit Facility ("Term Loan").

The Term Loan balance was reduced from $174,000,000 to $102,000,000 via voluntary prepayment.

The amendment to the Credit Facilities, among other things, reduced the minimum Consolidated Interest Coverage Ratio from "2.50 to 1.00" to "1.50 to 1.00."

"We are pleased with our lending partners' continued support of the Company.  This will allow us to better utilize our revolving credit facility and lower interest expense," said Sam Anderson, Head of Capital Markets. "Additionally, the amendment will provide us greater flexibility to drive shareholder value."


Medley Capital Corporation is a closed-end, externally managed business development company ("BDC") that trades on the New York Stock Exchange (NYSE: MCC). Medley Capital Corporation's investment objective is to generate current income and capital appreciation by lending to privately-held middle market companies, primarily through directly originated transactions, to help these companies expand their businesses, refinance and make acquisitions. Our portfolio generally consists of senior secured first lien loans and senior secured second lien loans. In many of our investments, we receive warrants or other equity participation features, which we believe will increase the total investment returns. Medley Capital Corporation is externally managed by MCC Advisors LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.  For additional information, please visit Medley Capital Corporation at


MCC Advisors LLC is a subsidiary of Medley Management Inc. (NYSE: MDLY). Medley is an alternative asset management firm offering yield solutions to retail and institutional investors. Medley's national direct origination franchise, with over 85 people, is a premier provider of capital to the middle market in the U.S. As of June 30, 2017, Medley had over $5 billion of assets under management in two business development companies, Medley Capital Corporation (NYSE:MCC) and Sierra Income Corporation, a credit interval fund, Sierra Total Return Fund (NASDAQ:SRNTX) and several private investment vehicles. Over the past 15 years, Medley has provided capital to over 380 companies across 35 industries in North America. For additional information, please visit Medley Management Inc. at

Medley LLC, the operating company of Medley Management Inc., has outstanding bonds which trade on the NYSE under the symbols (NYSE:MDLX) and (NYSE:MDLQ). Medley Capital Corporation (NYSE:MCC) has outstanding bonds which trade on the NYSE under the symbols (NYSE:MCV) and (NYSE:MCX).


Statements included herein may contain "forward-looking statements".  Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of assumptions, risks and uncertainties, which change over time. Actual results may differ materially from those anticipated in any forward-looking statements as a result of a number of factors, including those described from time to time in filings by the Company with the Securities and Exchange Commission. Except as required by law, the Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE: Medley Capital Corporation

Investor Relations Contact:
Sam Anderson
Head of Capital Markets & Risk
Medley Management Inc.

Media Contact:
Erin Clark
Teneo Holdings LLC