MidCap Financial Investment Corporation Amends and Extends Its Senior Secured Revolving Credit Facility

NEW YORK, April 20,  2023  (GLOBE NEWSWIRE)  -- MidCap  Financial  Investment Corporation (NASDAQ: MFIC) (the “Company”) announced today that it has amended and extended  its senior  secured, multi-currency,  revolving credit  facility (the “Facility”). Lender commitments under the Facility will remain $1.705 billion until December 22, 2024  and  will  decrease  to  $1.550   billion thereafter. The final maturity date under the Facility was extended by over two years from December 22, 2025 to April 19, 2028. The primary benchmark rate was changed from LIBOR to SOFR and the spread under the Facility was slightly reduced. The remaining material terms of the Facility will remain unchanged.

JPMorgan Chase Bank, N.A., Truist Securities, Inc., BMO Capital Markets Corp., and MUFG Bank, LTD. are Joint Bookrunners and  Joint Lead  Arrangers on  the Facility. JPMorgan Chase Bank,  N.A  is  the  Administrative  Agent on  the Facility.

“We are pleased to announce the extension of our revolving credit facility which enhances our  liquidity  position,”  said  Mr. Tanner Powell,  Chief Executive Officer of the Company.

Mr. Gregory W. Hunt, the Company’s  Chief Financial  Officer commented,  “We greatly appreciate  the  support  of  our  lenders  in  this  extension  which demonstrates their confidence in our platform and investment strategy.”

The foregoing description is only a summary of the material provisions of the Facility and  is qualified  in its  entirety by  reference to  a copy  of  the Facility, which is filed as Exhibit to the  Company’s current report on  Form 8-K filed with the Securities and Exchange Commission on April 20, 2023.

About MidCap Financial Investment Corporation

MidCap Financial  Investment  Corporation  (NASDAQ:  MFIC)  is  a  closed-end, externally managed,  non-diversified management  investment company  that  has elected to be  treated as  a business  development company  (“BDC”) under  the Investment Company Act of 1940 (the “1940 Act”). For tax purposes, the Company has elected to  be treated  as a  regulated investment  company (“RIC”)  under Subchapter M of the  Internal Revenue Code of  1986, as amended (the  “Code”). The Company is externally  managed by Apollo  Investment Management, L.P.,  an affiliate of Apollo Global Management, Inc. and its consolidated subsidiaries, a high-growth  global  alternative  asset manager.  The  Company’s  investment objective is to  generate current income  and, to a  lesser extent,  long-term capital appreciation. The Company primarily invests in directly originated and privately negotiated first lien  senior secured loans  to privately held  U.S. middle-market companies, which the Company generally defines as companies with less than $75 million  in EBITDA, as may  be adjusted for market  disruptions, mergers and acquisitions-related charges and synergies, and other items. To  a lesser extent, the Company may invest in other types of securities  including, first lien unitranche,  second lien senior  secured, unsecured,  subordinated, and mezzanine loans,  and equities in  both private and  public middle  market companies. For more information, please visit www.midcapfinancialic.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation  Reform  Act  of  1995.   Forward-looking statements involve risks  and uncertainties,  including, but  not limited  to, statements as to our future operating results; our business prospects and  the prospects of our portfolio companies; the impact of investments that we expect to make; our  contractual arrangements and  relationships with third  parties; the dependence of our future success on the general economy and its impact  on the industries in which we invest;  the ability of our portfolio companies  to achieve  their  objectives;  our  expected  financings  and  investments;  the adequacy of our  cash resources and  working capital; and  the timing of  cash flows, if any, from the operations of our portfolio companies.

We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. Statements regarding the following subjects, among others, may be forward-looking:  the return on equity; the yield on investments; the ability to borrow to finance assets; new strategic initiatives; the ability to reposition the investment portfolio; the market outlook; future investment activity; and risks associated with investing in real estate assets, including changes in business conditions and the general economy.  Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.

Contact

Elizabeth Besen
Investor Relations Manager
MidCap Financial Investment Corporation
(212) 822-0625
ebesen@apollo.com