THL Credit Inc. (
) reported three insider buys at the end of last week. On March
13, Director Keith Hughes and CFO Terrence Olson made buys into
the company. On March 14 Chief Compliance Officer and General
Counsel Stephanie Sullivan added to her stakes of THL Credit.
Director Keith Hughes made the largest transaction, adding 10,000
shares to his stake for $15.34 per share. His total transaction
amount was $153,400; Hughes now holds 33,500 shares of TCRD. CFO
Terrence Olson added 2,000 shares for $15.28, costing him
$30,560. Olson now owns 10,580 shares. Lastly, CCO Stephanie
Sullivan added 725 shares for $15.28 per share costing her
$11,078 per share. Sullivan now holds on to 9,963 shares of THL
Terrence Olson is the chief financial officer as well as the
chief operating officer. He is responsible for finance
operations, administration and information technology. Olson is
also involved in strategic initiatives, capital raising and
investor relations. Olson is a speaker and presenter at financial
and private equity conferences and is a board member for the
Financial Executive Alliance.
Stephanie Sullivan is the chief compliance officer as well as
general counsel for CHL Credit. Her role includes the legal and
compliance review of THL Credit's business operations, investing
transactions, regulatory filings and strategic initiatives.
Keith Hughes is the lead independent director at THL Credit. He
is also a director at Fidelity National Information Services as
well as Children's Medical Center of Dallas.
THL Credit is an externally managed, non-diversified, closed-end
management company that has chosen to be treated as a business
development company. THL Credit invests primarily in junior
capital securities, including subordinated debt and second lien
secured debt. THL Credit is headquartered out of Boston, Mass.,
and has a market cap of $406.57 million.
As of Dec. 31, 2012, THL Credit's investment portfolio was at
$394.3 million across 34 portfolio companies. This total
increased by 48% from 2011. The net increase in net assets for
2012 was $27.6 million or $1.26 per diluted share. The net
investment income was $9.0 million or $0.34 per diluted share
based on weighted average common shares out withstanding.
"During 2012, we completed 19 new investment transactions and
made seven follow-on investments totaling $277 million in debt
and equity capital," said James Hunt, CEO of THL Credit. "We have
an active pipeline today that includes an increasing number of
unsponsored opportunities. While we continue to maintain our
cautious view on the economy, we are optimistic that a gradually
improving economic backdrop will continue to lead to an
increasingly active first half of 2013."
, currently holds 1,880,307 shares of TCRD.
With shares down 0.91% this morning, THL Credit trades at $15.31.
For more information of THL Credit's insider trades, look at the
TCRD Insider Trade History
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