Logan Ridge Finance Corporation Announces the Refinancing of its Entire Legacy Capital Structure and Significantly Lowers Cost of Capital

NEW YORK, May well 10, 2022 (World NEWSWIRE) — Logan Ridge Finance Corporation (“LRFC” or the “Company”) (Nasdaq: LRFC) nowadays announced the thriving refinancing of its total legacy funds composition, an important milestone and important strategic initiative for the Business.

Particularly, on May perhaps 10, 2022, the Corporation amended its current Senior Secured Revolving Credit Facility settlement with KeyBank (“KeyBank Credit history Facility”), by rising the first determination from $25. million to $75. million, with an uncommitted accordion aspect that lets the Firm to borrow up to an further $125. million. The amended KeyBank Credit score Facility has a May possibly 10, 2027 maturity date.

Borrowings underneath the amended KeyBank Credit score Facility will bear curiosity at 1M Term SOFR furthermore 2.90% through the 3-yr revolving time period and 3.25% thereafter, with .40% 1M Expression SOFR ground. The web proceeds to the Business from the original draw was $49.1 million on May 10, 2022.

Also, as previously disclosed on April 1, 2022, the Corporation entered into a Take note Order Settlement for the issuance of $15. million Convertible Notes owing in April 2032. The proceeds from the original attract on the KeyBank Credit rating Facility, coupled with the internet proceeds from the 2032 Convertible Notes issued in April and present funds on hand, supplies the Firm ample liquidity to pay out off its fantastic $52.1 million of 5.75% convertible notes as well as the remaining $22.8 million of 6.00% notes, the two of which mature on May possibly 31, 2022.

Ted Goldthorpe, Chief Executive Officer and President of LRFC, said, “We are happy to announce that we have successfully refinanced our full legacy cash composition at decreased interest premiums, which materially lowers our charge of personal debt capital from about 7.% as of March 31, 2022 to approximately 5.2% nowadays. KeyBank has been an superb lover for Logan Ridge and we are content to leverage this potent marriage to improve Logan Ridge’s economic position and funds composition. This signifies a important milestone for Logan Ridge as we go on to execute on our strategic eyesight we laid out for shareholders when we turned the external supervisor in July 2021.”

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About Logan Ridge Finance Corporation
Logan Ridge Finance Corporation (Nasdaq: LRFC) is a organization development enterprise that invests primarily in 1st lien loans and, to a lesser extent, next lien financial loans and fairness securities issued by decreased middle market firms. The Organization invests in doing, well-set up center sector businesses that operate throughout a extensive assortment of industries. It employs fundamental credit investigation, targeting investments in businesses with somewhat reduced concentrations of cyclicality and functioning chance. For additional info, pay a visit to loganridgefinance.com.

About Mount Logan Cash Inc.
Mount Logan Capital Inc. is an different asset administration enterprise that is concentrated on general public and private financial debt securities in the North American marketplace. The Organization seeks to source and actively manage financial loans and other debt-like securities with credit-oriented traits. The Firm actively sources, evaluates, underwrites, manages, screens and primarily invests in loans, credit card debt securities, and other credit score-oriented instruments that existing attractive chance-adjusted returns and existing very low danger of principal impairment by means of the credit cycle.

About BC Companions Advisors L.P. and BC Associates Credit history
BC Associates is a main intercontinental financial commitment agency with about $40 billion of assets less than administration in personal equity, private credit rating and authentic estate strategies. Established in 1986, BC Associates has performed an lively function in establishing the European buyout market place for 3 a long time. Now, BC Companions executives run throughout marketplaces as an built-in group by way of the firm’s workplaces in North The us and Europe. Considering that inception, BC Partners has accomplished 117 non-public equity investments in organizations with a whole company price of €149 billion and is currently investing its eleventh personal equity fund.

BC Associates Credit was launched in February 2017 and has pursued a system targeted on identifying attractive credit rating alternatives in any market place environment and across sectors, leveraging the offer sourcing and infrastructure produced accessible from BC Associates.

Cautionary Assertion Relating to Ahead-Seeking Statements
This communication consists of “forward-looking” statements. Forward-seeking statements problem upcoming conditions and success and other statements that are not historic information and are occasionally recognized by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,” “continue,” “target” or other comparable words and phrases or expressions. Forward-on the lookout statements are dependent on latest strategies, estimates and anticipations that are subject matter to pitfalls, uncertainties and assumptions. Should really a person or much more of these hazards or uncertainties materialize, or need to underlying assumptions demonstrate to be incorrect, precise outcomes could fluctuate materially from all those indicated or anticipated by these ahead-seeking statements. The inclusion of this sort of statements should not be regarded as a representation that this kind of strategies, estimates or expectations will be accomplished. Important factors that could trigger actual results to differ materially from this kind of strategies, estimates or anticipations contain those danger variables comprehensive in the Company’s stories filed with the Securities and Exchange Fee (“SEC”), like the Company’s once-a-year report on Form 10-K, periodic quarterly stories on Variety 10-Q, recent experiences on Type 8-K and other paperwork submitted with the SEC.

Any forward-on the lookout statements converse only as of the date of this interaction. The Company does not undertake any obligation to update any forward-looking statements, no matter if as a consequence of new data or developments, potential events or if not, except as necessary by regulation. Audience are cautioned not to position undue reliance on any of these forward-searching statements.

For extra information and facts, contact:

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

Jason Roos
Chief Financial Officer
[email protected]
(212) 891-5046

The Fairness Team Inc.
Lena Cati
[email protected]
(212) 836-9611

Serena Liegey
[email protected]
(212) 836-9630