{"id":507,"date":"2016-01-15T15:34:56","date_gmt":"2016-01-15T15:34:56","guid":{"rendered":"http:\/\/henristeenkamp.com\/?p=507"},"modified":"2019-05-06T19:34:51","modified_gmt":"2019-05-06T19:34:51","slug":"saratoga-investments-new-3q-loans-helpsystems-my-alarm-center","status":"publish","type":"post","link":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/saratoga-investments-new-3q-loans-helpsystems-my-alarm-center\/","title":{"rendered":"Saratoga Investment&#039;s New 3Q Loans: Help\/Systems, My Alarm Center"},"content":{"rendered":"<p style=\"color: #222222\"><span style=\"color: black\"><a href=\"http:\/\/saratogainvestmentcorp.com\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-509\" src=\"http:\/\/henristeenkamp.com\/wp-content\/uploads\/2016\/01\/Saratoga-Investment-Corp-Help-Systems-My-Alarm-Center-1024x204.png\" alt=\"Saratoga Investment Corp Help Systems My Alarm Center\" width=\"935\" height=\"186\" \/>Saratoga Investment Corp.<\/a> invested a total of $15.3 million in new investments in the recent fiscal quarter, in\u00a0<strong>Help\/Systems Holdings<\/strong>\u00a0and\u00a0<strong>My Alarm Center<\/strong>.<\/span><\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">Saratoga increased its investment in Help\/Systems Holdings. The expanded investment, as of<span class=\"aBn\" data-term=\"goog_1823028976\"><span class=\"aQJ\">Nov. 30<\/span><\/span>, comprised a $5 million, 6.25% first-lien term loan due 2019, and a $3 million, 10.5% second-lien term loan due 2020, according to the company&#8217;s 10-Q.<\/span><\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">Help\/Systems Holdings, based in Eden Prairie, Minn. and a subsidiary of HS Group Holdings, provides automation and business productivity software.<\/span><\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">Moreover, Saratoga Investment Corp. added a $7.5 million 12% second-lien loan due 2019 to My Alarm Center to its investment portfolio in the recent quarter. My Alarm Center, a portfolio company of Norwest Ventures, provides residential and small commercial security services and home-automation technologies.<\/span><\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">My Alarm Center closed a new $50 million second-lien term loan late last year via placement agent Imperial Capital with proceeds earmarked to repay mezzanine debt. In addition, the company&#8217;s first-lien term loan was increased by $25 million.<\/span><\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">Saratoga&#8217;s repayments in the fiscal third quarter ended\u00a0<span class=\"aBn\" data-term=\"goog_1823028977\"><span class=\"aQJ\">Nov. 30<\/span><\/span>\u00a0totaled $27.9 million, outpacing new investments. New investments picked up after the quarter ended, with Saratoga adding $31.2 million on the back of repayments of $3 million.<\/span><\/p>\n<p>&#8220;The timing of redemptions and the new rate originations during this quarter were unusual with most redemptions occurring during the quarter, while many new originations occurring following quarter end,&#8221; said CEO <a href=\"http:\/\/chrisoberbeck.com\" target=\"_blank\" rel=\"noopener noreferrer\">Christian Oberbeck<\/a> in an investor call today.<\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">Behind the magnitude of the redemptions is Saratoga&#8217;s strategy of pursuing higher-quality investments, which increases the chances of a debt refinancing or company sale, investors heard on the call.<\/span><\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">&#8220;If you are making good investment selections, you are exposed to higher redemptions. We have experienced that,&#8221; said CIO Michael Grisius on the call.<\/span><\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">Saratoga Investment has no significant direct exposure to the oil-and-gas industry, with some exposure to the ailing sector through its CLO.<\/span><\/p>\n<p style=\"color: #222222\"><span style=\"color: black\">&#8220;The lower middle market is the most attractive market segment to deploy capital, and the fundamentals here remain strong, leading to the best risk-adjusted returns, in our view,&#8221; Grisius added.\u00a0<\/span><\/p>\n<p style=\"color: #222222\">\n","protected":false},"excerpt":{"rendered":"<p>Saratoga Investment Corp. invested a total of $15.3 million in new investments in the recent fiscal quarter, in\u00a0Help\/Systems Holdings\u00a0and\u00a0My Alarm Center. Saratoga increased its investment in Help\/Systems Holdings. The expanded investment, as ofNov. 30, comprised a $5 million, 6.25% first-lien term loan due 2019, and a $3 million, 10.5% second-lien term loan due 2020, according [&hellip;]<\/p>\n","protected":false},"author":1176,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_mi_skip_tracking":false,"footnotes":""},"categories":[3,9,10],"tags":[78,110,113],"class_list":["post-507","post","type-post","status-publish","format-standard","hentry","category-blog","category-saratoga-posts","category-saratoga-press-releases","tag-investments","tag-saratoga","tag-saratoga-investment-corp"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts\/507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/users\/1176"}],"replies":[{"embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/comments?post=507"}],"version-history":[{"count":0,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/posts\/507\/revisions"}],"wp:attachment":[{"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/media?parent=507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/categories?post=507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ragnarok-ms.us\/henristeenkamp-com\/wp-json\/wp\/v2\/tags?post=507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}