Medley Capital Corporation (NYSE:MCC) Files An 8-K Termination of a Material Definitive Agreement

Medley Capital Corporation (NYSE:MCC) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02Termination of a Material Definitive Agreement.

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On September 28, 2018 (the “Termination Date”), Medley Capital Corporation (the “Company”) paid all remaining outstanding obligations on the Termination Date and terminated the commitments under its existing Amended and Restated Senior Secured Revolving Credit Agreement (as amended by Amendment No. 1, Amendment No. 2, Amendment No. 3 and Amendment No. 4, the “Facility”), by and among the Company, ING Capital LLC, as administrative agent, and the lenders party thereto from time to time. Such prepayment and termination were undertaken in connection with the previously announced execution of and in anticipation of the transactions under the Agreement and Plan of Merger by and between the Company and Sierra Income Corporation (“Sierra”), to which the Company will merge with and into Sierra, and the Agreement and Plan of Merger by and among Medley Management Inc., Sierra and Sierra Management Inc., to which Medley Management Inc. will merge with and into Sierra Management Inc. Immediately prior to its termination, total commitments under the Facility were $150.0 million.

to the terms of the Facility, the Company did not incur any material early termination penalties in connection with the termination of the Facility.

About Medley Capital Corporation (NYSE:MCC)

Medley Capital Corporation is a non-diversified closed-end management investment company. The Company’s investment objective is to generate current income and capital appreciation by lending directly to privately-held middle market companies, primarily through directly originated transactions to help these companies expand their business, refinance and make acquisitions. Its investment portfolio includes senior secured first lien term loans, senior secured second lien term loans, unitranche, senior secured first lien notes, subordinated notes and warrants and minority equity securities. It may invest up to 100% of its assets in securities acquired directly from issuers in privately negotiated transactions. Its portfolio of investments includes industries, including banking, finance, insurance and real estate; construction and building; healthcare and pharmaceuticals; beverage and food, and telecommunications. MCC Advisors LLC is the Company’s investment advisor.

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