Street Calls of the Week
NEW YORK - MidCap Financial Investment Corporation (NASDAQ:MFIC), a business development company with a market capitalization of $1.12 billion and strong financial health according to InvestingPro metrics, announced Thursday it has amended and extended its senior secured, multi-currency revolving credit facility with total lender commitments of $1.61 billion, representing a $50 million decrease from the previous amount.
The business development company has extended the facility’s final maturity date from October 17, 2029, to October 1, 2030. Additionally, MFIC secured more favorable terms, reducing the applicable margin by 10 basis points to 177.5 basis points and lowering the commitment fee by 5 basis points to 32.5 basis points. The company’s solid financial position is reflected in its healthy current ratio of 3.63, indicating strong liquidity management.
JPMorgan Chase Bank, N.A., Truist Securities, Inc., and BMO Capital Markets Corp. are serving as joint bookrunners and joint lead arrangers for the facility, with JPMorgan Chase Bank, N.A. acting as the administrative agent.
MidCap Financial Investment Corporation, externally managed by an affiliate of Apollo Global Management, Inc., primarily invests in directly originated and privately negotiated first lien senior secured loans to privately held U.S. middle-market companies, generally defined as companies with less than $75 million in EBITDA.
The company also invests to a lesser extent in other securities including first lien unitranche, second lien senior secured, unsecured, subordinated, and mezzanine loans, as well as equities in both private and public middle market companies. With a significant dividend yield of 12.86% and a 22-year track record of consistent dividend payments, MFIC has demonstrated strong shareholder returns. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro.
The details of the amended facility were disclosed in a Form 8-K filed with the Securities and Exchange Commission on Thursday, according to the company’s press release statement.
In other recent news, MidCap Financial Investment Corp reported its Q2 2025 earnings, which exceeded expectations with an earnings per share (EPS) of $0.39, compared to the forecasted $0.3768. Despite this positive earnings surprise of 3.5%, the company’s revenue of $81.25 million slightly missed expectations by 0.6%. Additionally, MidCap Financial Investment Corp announced the appointment of Joseph Durkin as its new chief accounting officer. Mr. Durkin, who joined Apollo Global Management in September, will also serve as chief accounting officer for MidCap Apollo Institutional Private Lending. Before his current role, he was a principal at Churchill Asset Management and previously worked at Ernst & Young LLP. These developments are part of the company’s recent strategic moves.
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