THL Credit Closes Two Deals

THL Credit has completed two investment transactions in the third quarter: to recapitalize and provide expansion capital to Airborne Tactical Advantage Company, and to provide backing for the strategic investment in The Studer Group. THL Credit Greenway Fund, THL Credit’s managed fund, also invested in each of these transactions.

PRESS RELEASE

THL Credit, Inc. (Nasdaq:TCRD) (“THL Credit”) today announced that it recently completed two investment transactions in the third quarter: to recapitalize and provide expansion capital to Airborne Tactical Advantage Company LLC (“ATAC”), and to provide capital in connection with the strategic investment in The Studer Group, LLC (“Studer Group”). THL Credit Greenway Fund LLC, THL Credit’s managed fund, also invested in each of these transactions.

RECAPITALIZATION OF ATAC

THL Credit invested in the senior secured notes and equity of ATAC to recapitalize the company and provide expansion capital. Headquartered in Newport News, Va, ATAC provides tactical aircraft training services to the U.S. Department of Defense (“DoD”) and foreign allied governments via its fleet of more than 20 subsonic and supersonic fighter aircrafts, and its staff of elite military-trained pilots. ATAC delivers high quality, realistic threat simulation to enhance pilot combat readiness at a substantial cost savings to the DoD (vs. indigenous military-on-military training), while preserving the useful life of valuable combat aircraft assets.

“ATAC offers a highly attractive value proposition for the U.S. military and has maintained a stellar reputation and strong record of safety within the industry. We are excited to support the next phase of ATAC’s growth,” said Chris Flynn, Managing Director of THL Credit and Boston-based investment team leader.

INVESTMENT IN STUDER GROUP

THL Credit invested in the senior subordinated notes of Studer Group, an outcomes-based healthcare performance improvement firm that has worked with more than 800 hospitals, health systems, medical practices and end-of-life organizations to achieve and sustain operational, clinical and financial results. Proceeds of the transaction were used to support a strategic investment by JMI Equity.

“Studer Group has an impressive track record of helping healthcare institutions achieve better outcomes. In an increasingly challenging healthcare operating environment, we believe Studer Group’s services will continue to be invaluable to the industry,” said Flynn.

About THL Credit

THL Credit is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.

THL Credit is headquartered in Boston, with additional investment teams in Los Angeles and Houston. THL Credit invests primarily in junior capital securities, including subordinated debt and second lien secured debt, which junior capital may include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit may also selectively invest in first lien secured loans. THL Credit targets investments in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. THL Credit’s investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.