NEW YORK, Oct. 09, 2020 (GLOBE NEWSWIRE) -- The Special Committee of the Board of Directors of Medley Capital Corporation (NYSE: MCC) (“MCC”) is pleased to announce that on October 8, 2020, MCC, MCC Senior Loan Strategy JV I LLC (the “MCC JV”), the other holder of membership interests in the MCC JV (the “Other MCC JV Member”), and an affiliate of Golub Capital LLC (“Golub”) entered into a Membership Interest Purchase Agreement (“the Agreement”) pursuant to which a private fund affiliated with and managed by Golub concurrently purchased all of MCC’s interest in the MCC JV and all of the Other MCC JV Member’s interest in the MCC JV for a total purchase price of $156.4 million (subject to various adjustments), on terms and conditions set forth in the Agreement. In connection with the closing of the transaction, MCC JV repaid in full all outstanding borrowings under, and terminated, its senior secured revolving credit facility, dated as of August 4, 2015, as amended, administered by Deutsche Bank AG, New York Branch. Taking into account the debt repayment and the adjustments, MCC and the Other MCC JV Member received net proceeds (before transaction expenses) of $41.0 million and $6.6 million, respectively.
Medley Capital Corporation Sells the MCC Senior Loan Strategy JV Portfolio to Fund Managed by Golub Capital LLC
Oct 09, 2020
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