NEW YORK, July 06, 2022 (GLOBE NEWSWIRE) — Logan Ridge Finance Company (“LRFC”, “Logan Ridge” or the “Firm”) (Nasdaq: LRFC) in the present day introduced that on June 29, 2022 Eastport Holdings, LLC, a portfolio firm of Logan Ridge, accomplished a refinancing and recapitalization transaction.

On account of this transaction, Logan Ridge obtained $16.5 million in money and $19.25 million in precept of a brand new debt safety in trade for all of its earlier debt and fairness securities. The brand new debt safety will mature on September 29, 2027 and pay curiosity at a price of 3-month SOFR+850, with a 1.0% SOFR ground.

Ted Goldthorpe, Chief Govt Officer and President of LRFC, mentioned, “We’re excited to announce the recapitalization of our funding in Eastport, because it considerably reduces our legacy non-interest incomes fairness publicity and represents an vital milestone for the Firm. It additionally demonstrates our skill to execute on the strategic initiatives that we shared with shareholders after we took over managing the portfolio a bit of over a 12 months in the past. This transaction, coupled with the work we’ve finished on the precise facet of steadiness sheet to decrease the Firm’s price of debt capital, is transformative for Logan Ridge and positions it effectively for the long run.”

About Logan Ridge Finance Company
Logan Ridge Finance Company (Nasdaq: LRFC) is a enterprise improvement firm that invests primarily in first lien loans and, to a lesser extent, second lien loans and fairness securities issued by decrease center market corporations. The Firm invests in performing, well-established center market companies that function throughout a variety of industries. It employs elementary credit score evaluation, concentrating on investments in companies with comparatively low ranges of cyclicality and working threat. For extra info, go to loganridgefinance.com.

About Mount Logan Capital Inc.
Mount Logan Capital Inc. is another asset administration firm that’s targeted on private and non-private debt securities within the North American market. The Firm seeks to supply and actively handle loans and different debt-like securities with credit-oriented traits. The Firm actively sources, evaluates, underwrites, manages, displays and primarily invests in loans, debt securities, and different credit-oriented devices that current engaging risk-adjusted returns and current low threat of principal impairment by way of the credit score cycle.

About BC Companions Advisors L.P. and BC Companions Credit score
BC Companions is a number one worldwide funding agency with over $40 billion of property below administration in non-public fairness, non-public credit score and actual property methods. Established in 1986, BC Companions has performed an lively function in creating the European buyout marketplace for three many years. Right this moment, BC Companions executives function throughout markets as an built-in group by way of the agency’s places of work in North America and Europe. Since inception, BC Companions has accomplished 117 non-public fairness investments in corporations with a complete enterprise worth of €149 billion and is at the moment investing its eleventh non-public fairness fund.

BC Companions Credit score was launched in February 2017 and has pursued a technique targeted on figuring out engaging credit score alternatives in any market setting and throughout sectors, leveraging the deal sourcing and infrastructure made out there from BC Companions.

Cautionary Assertion Relating to Ahead-Trying Statements
This communication incorporates “forward-looking” statements. Ahead-looking statements concern future circumstances and outcomes and different statements that aren’t historic info and are generally recognized by the phrases “could,” “will,” “ought to,” “potential,” “intend,” “count on,” “endeavor,” “search,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “imagine,” “may,” “challenge,” “predict,” “proceed,” “goal” or different comparable phrases or expressions. Ahead-looking statements are based mostly upon present plans, estimates and expectations which can be topic to dangers, uncertainties and assumptions. Ought to a number of of those dangers or uncertainties materialize, or ought to underlying assumptions show to be incorrect, precise outcomes could differ materially from these indicated or anticipated by such forward-looking statements. The inclusion of such statements shouldn’t be considered a illustration that such plans, estimates or expectations will likely be achieved. Necessary elements that might trigger precise outcomes to vary materially from such plans, estimates or expectations embody these threat elements detailed within the Firm’s stories filed with the Securities and Trade Fee (“SEC”), together with the Firm’s annual report on Type 10-Okay, periodic quarterly stories on Type 10-Q, present stories on Type 8-Okay and different paperwork filed with the SEC.

Any forward-looking statements converse solely as of the date of this communication. The Firm doesn’t undertake any obligation to replace any forward-looking statements, whether or not because of new info or developments, future occasions or in any other case, besides as required by regulation. Readers are cautioned to not place undue reliance on any of those forward-looking statements.

For extra info, contact:

Logan Ridge Finance Company
650 Madison Avenue, 23rd Ground
New York, NY 10022

Jason Roos
Chief Monetary Officer
Jason.Roos@bcpartners.com
(212) 891-5046

The Fairness Group Inc.
Lena Cati
lcati@equityny.com
(212) 836-9611