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Stock Market & Financial Investment News

News Breaks
August 11, 2014
08:47 EDTMVCMVC Capital announces sale of Octagon Credit Investors
MVC Capital announced that it has sold its interest in Octagon Credit Investors. MVC sold its equity interest to Octagon as part of a put option negotiated in 2008. MVC initially provided debt and equity financing to support management buying majority control of Octagon from J.P. Morgan in May 2004. In 2011, MVC received payment in full for its initial debt investment, while continuing to hold its equity interest. As a result of the sale, MVC generated an 8.9X return on equity capital and an IRR of 39%1, including fees and cash distributions received from Octagon.
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