Full Circle Capital invests $13.25 million in three new portfolio companies during Q2

By Lisa Kerner

Charlotte, N.C., Jan. 15 – Full Circle Capital Corp. completed portfolio investments totaling $13.25 million, representing investments in three new portfolio companies, during its second quarter ended Dec. 31, according to a news release.

On Oct. 9, Full Circle funded a $2.75 million senior secured credit facility to internet advertising agency Ads Direct Media, Inc. The credit facility bears interest at one-month Libor plus 13% with a Libor floor of 0.50%. Final maturity is Oct. 6, 2017.

Also in October, the company funded $6 million of a $60 million second-lien secured loan to Bioventus LLC, a specialty pharmaceutical company. The facility bears interest at one-month Libor plus 10% with a 1% floor and a final maturity of April 10, 2020.

On Dec. 17, Full Circle funded a $4.5 million senior secured mortgage term loan to hotel operator Luling Lodging, LLC. The credit facility bears interest at one-month Libor plus 12% with a Libor floor at 0.25%. Final maturity is Dec. 17, 2017.

“We are pleased with the continued growth of Full Circle Capital’s investment portfolio to record levels this past quarter,” said co-chief executive officer Gregg J. Felton.

According to Felton, the general market volatility serves to increase Full Circle’s investment opportunities.

Full Circle Capital is a Greenwich, Conn.-based closed-end investment company.

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