THL Credit (TCRD) Misses Q3 EPS by 1c

THL Credit (NASDAQ: TCRD) reported Q3 EPS of $0.32, $0.01 worse than the analyst estimate of $0.33.

In the third quarter, THL Credit closed on two new investments totaling $21.0 million and an additional $11.8 million in follow-on investments at par in four existing portfolio companies.

New investments and follow-on investments for the third quarter included:

• $15.0 million investment in the senior secured term loan and a $0.5 million preferred and common equity co-investment in Merical, LLC and affiliated entities, a contract manufacturer of vitamins, minerals and supplements;
• $8.9 million purchase of first lien senior secured term loans and revolvers of Tri-Starr Management Services, Inc. at a discount as part of a restructuring;
• $5.5 million investment in the first lien senior secured term loan in It’s Just Lunch International LLC, a personalized matchmaking service; and
• $2.9 million of investments in the senior secured term loans of BeneSys Inc., Loadmaster Derrick & Equipment, Inc. and a small follow-on investment in a fund.

Notable proceeds from realizations for the quarter included:

• $17.3 million from the repayment of a second lien term loan in Granicus, Inc., which included a prepayment premium of $0.3 million;
• $12.7 million from the repayment of a second lien term loan in Oasis Legal Finance Operating Company LLC, which included a prepayment premium of $0.1 million;
• $10.2 million from the repayment of a second lien term loan in American Covers, Inc., which included a prepayment premium of $0.2 million;
• $4.9 million from the sale of a residual interest in Dryden CLO, Ltd., which resulted in a realized loss.

For earnings history and earnings-related data on THL Credit (TCRD) click here.

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