DEBTWIRE MIDDLE MARKET SPECIAL REPORT: PRIMARY LOAN MONITOR

JUNE 2017A MONTHLY OVERVIEW OF SMALL-TO-MIDCAP

LEVERAGED LOANS

PRIMARY ISSUANCE IPRIMARY ISSUANCE II

LOANS ILOANS II

CONTACTS

ISSUANCE BY INDUSTRY *

PRIMARY LOAN MONITORJUNE ’17 │ PRIMARY ISSUANCE

Other

44%

15%

8%

8%

17%

2

NEW ISSUANCE USE OF PROCEEDS *

*Use of proceeds and new issue characteristics represent only the portion of transactions for which Debtwirecould obtain information. In the case of use of proceeds, pie chart data is derived from 100% of total numberof deals. New issue characteristics derived from 8.3% of transactions with maturity dates and 12.5% oftransactions with pricing. Pricing data excludes revolvers,mezzanine and subordinated debt.

Healthcare

Manufacturing

Transportation

Computer Services

Financial Services

8%

GCP49%

LBO 5%

M&A7%

Recap7%

Refi23%

Working Capital

9%

AVERAGE TENOR

45 MONTHS

AVERAGE SENIOR TERM DEBT SPREAD

REFERENCE BASE AVERAGECOUNT

TOWARDS AVERAGE

SPREAD ABOVE LIBOR 2.70% 5

FIXED RATE 3.99% 1

PRIMARY LOAN MONITOR

3

JUNE ’17 │ PRIMARY ISSUANCE OVERVIEW (CONTINUED)

NEW ISSUE CHARACTERISTICS *

Borrower Name Instrument Size (USDm) Maturity Coupon Industry Sponsor Lead Lender Purpose

MediaMath Credit Facility 175.0 Computer Services Goldman Sachs & Co. Refi

Global Holdings Credit Facility68.5

Financial ServicesNew State Capital Partners

LLCCrystal Financial Recap

Mersino Management Company Term Loan 20.0 Utility Great Rock Capital GCPCapstone Turbine Corporation Credit Facility 12.0 Jun-19 Energy Bridge Bank RefiNumerex Corporation Credit Facility 13.5 Computer Services Hale Capital Partners Refi

Texan Rentals and Lease Services Credit Facility 6.5 Energy North Mill Capital GCP

Radiant Logistics Credit Facility82.5

TransportationBank of America, N.A., Bank of

Montreal and Integrated Private Debt Fund V LP

GCP

Nortech Systems Incorporated Credit Facility 21.0 Manufacturing BAML GCP

Stanadyne LLC Credit Facility90.0

Manufacturing Kohlberg & Company Cerberus Business Finance Recap

Perficient Revolver 125.0 Jun-22 L + 1.5%-1.75% Financial Services Wells Fargo Refi

Sientra Credit Facility 50.0 Healthcare Silicon Valley Bank M&A

MacStadium Credit Facility3.0

Computer Services Silicon Valley Bank GCP

Appliance Recycling Centers of America Credit Facility 12.0 Retail Midcap GCP

Accuray Incorporated Revolver 52.0 Jun-21 L + 4.5% Healthcare Midcap Refi

Gulf Island Fabrication Credit Facility 40.0 Jun-19 L + 2.0% Energy Whitney Bank GCP

KDH Defense Systems Credit Facility10.8

Defence Gibraltar Business Capital GCP

Donnelly Group Term Loan 12.0 Food & Beverage CWB Franchise Finance Refi

Owen Equipment Credit Facility24.0

Industrial Prospect Partners, LLC TCF Capital Funding Recap

Shawnee Tubing Solutions, LLC Credit Facility 23.7 Industrial MB Business Capital M&A

Continental Casting Credit Facility6.5

Industrial North Mill Capital Working Capital

Scrap Metal Services Credit Facility84.0

Metals & Mining Bank of America Business Capital Refi

URT United Road Towing Credit Facility25.0

Utility Ares Commercial Finance Refi

Regional Management Revolver 125.0 Transportation Wells Fargo GCPFortress Transportation and Infrastructure

Revolver75.0

Jun-20 L + 3.0% Transportation J.P. Morgan and Barclays GCP

Alert Logic Credit Facility 70.0 Services Square 1 Bank Working Capital

Trucker Path Credit Facility 30.0 Transportation Silicon Valley Bank GCP

MediaAlpha Credit Facility20.0

Media Bridge Bank Working Capital

WidePoint Revolver 5.0 Telecommunications Access National Bank Refi

Intense Cycles Credit Facility 7.0 Manufacturing Ares Commercial Finance Refi

Schweiger Dermatology Group Credit Facility 20.0 Healthcare Triangle Capital Corporation GCP

PRIMARY LOAN MONITOR

4

JUNE ’17 │ LOANS

Borrower Name Instrument Size (USDm) Maturity Coupon Industry Sponsor Lead Lender Purpose

Pearl Capital Business Funding Credit Facility 15.0 Financial Services Capital Z Partners Chatham Capital Management GCP

Thrift Recycling Management, d/b/a Discover Books

Credit Facility8.5

Education Midcap Financial GCP

Sawgrass Credit Facility 5.0 Media FGI Finance GCP

National Spine & Pain Centers Credit Facility 220.0 Healthcare Avista Capital Partners Citizens Bank LBO

MFG Chemical Credit Facility 45.0 Chemicals and Materials Platte River Equity Monroe Capital LBO

Arhaus Credit Facility 30.0 Construction & Homebuilding Monroe Capital GCP

Colony Hardware Credit Facility 110.0 Consumer Products Tailwind Twin Brook Capital Partners M&A

Digirad Corporation Credit Facility 25.0 Jun-22 L + 2.35% Healthcare Digirad Corporation GCP

WANdiscoTerm Loan 5.0 May-21

Technology Silicon Valley Bank GCPRevolver 3.0 Apr-21

Western Industries Plastic Products Credit Facility 8.0 Manufacturing Speyside Equity MB Business Capital Working Capital

Bioanalytical Systems Term Loan 4.5 Jun-22 3.99% fixed

Pharmaceuticals First Internet Bank of Indiana GCPRevolver 2.0 Jun-19 P - 0.25%

Elysium Health Credit Facility 5.0 Healthcare Silicon Valley Bank GCP

Pediatrics Management Group Credit Facility 13 Healthcare Breakaway Capital GCP

PRIMARY LOAN MONITOR

5

JUNE ’17 │ LOANS

M I D D L E M A R K E TP R I M A R Y L O A N M O N I T O R

RESEARCH CONTACTSSuneet ChandvaniHead of Mid-Market Research+1 646-378-3170suneet.chandvani@debtwire.com

Alex FederbuschMiddle Market Analyst+1 212-500-7554 alex.federbusch@debtwire.com

Amol ShindeMiddle Market Analyst+91-22-61331670amol.shinde@debtwire.com

EDITORIAL CONTACTSJon BerkeMiddle Market Editor, Debtwire North America+1 212-686 2741jon.berke@debtwire.com

Bill WeisbrodReporter+1 212-500-1399bill.weisbrod@debtwire.com

Danielle Randall-SabaReporter +1 212-575-7876 danielle.randall@debtwire.com

Rachel ButtReporter +1 212 500 1387Rachel.Butt@debtwire.com

Disclaimer

We have obtained the information provided in this report in good faith from sources that we consider to be reliable, but we do not independently verify the information. The information is not intended to provide tax, legal orinvestment advice. We shall not be liable for any mistakes, errors, inaccuracies or omissions in, or incompleteness of, any information contained in this report. All such liability is excluded to the fullest extent permitted by law. Datahas been derived from company reports, press releases, presentations and Debtwire intelligence.

DEBTWIRE SALESJonathan ReedGlobal Managing Director+1 212 686 5418jonathan.reed@debtwire.com

Brian FitzgeraldHead of Debtwire Sales Americas+1 212 686 5277brian.fitzgerald@debtwire.com