{
  "docId": "019de074-f74f-701c-bbde-f5fe1e1c32c9",
  "docSlug": "74c9db35005bfafa6f288f8a37a78ab7",
  "documentTitle": "Main Street Capital | Fixed Income Presentation Deck | 42 slides",
  "authorId": "main-street-capital",
  "authorName": "Main Street Capital Corporation",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-05-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 34,
  "pageCount": 42,
  "prevPage": 33,
  "nextPage": 35,
  "slideType": "kpi_overview",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 9,
  "notes": "LMM stands for Lower Middle Market. The slide provides a snapshot of portfolio health and valuation metrics.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de074-f74f-701c-bbde-f5fe1e1c32c9/34",
  "deckHref": "/decks/019de074-f74f-701c-bbde-f5fe1e1c32c9",
  "deckJsonHref": "/decks/019de074-f74f-701c-bbde-f5fe1e1c32c9.json",
  "deckAnchorHref": "/decks/019de074-f74f-701c-bbde-f5fe1e1c32c9#slide-34",
  "components": [
    {
      "bbox": {
        "h": 0.15,
        "w": 0.28,
        "x": 0.06,
        "y": 0.19
      },
      "kind": "callout",
      "text": "LMM investment portfolio is a pool of high quality, seasoned assets with attractive risk-adjusted return characteristics",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8463b942-578a-4993-97a7-3f47636195e3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.6,
        "x": 0.35,
        "y": 0.59
      },
      "kind": "list",
      "text": "High quality, seasoned LMM portfolio: Total LMM portfolio investments at fair value equals 122% of cost; Equity component at fair value equals 191% of cost; 50 companies with unrealized appreciation; $427.2 million net unrealized appreciation.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "03bdb6b3-3808-4d3b-b4aa-6e957f94a044",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.6,
        "x": 0.35,
        "y": 0.19
      },
      "kind": "list",
      "text": "Median LMM portfolio credit statistics(1): Senior leverage of 2.9x EBITDA; 2.6x EBITDA to senior interest coverage; Total leverage of 3.1x EBITDA; Free cash flow de-leveraging.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "26fb5250-8046-4b54-9f92-e56cf2d8e3f6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.6,
        "x": 0.35,
        "y": 0.51
      },
      "kind": "paragraph",
      "text": "Opportunistic, selective posture toward new investment activity over the economic cycle",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "67d66c31-4e15-4080-aa9f-d38bfb1c7bb0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.6,
        "x": 0.35,
        "y": 0.41
      },
      "kind": "paragraph",
      "text": "Average investment size of $26.7 million at fair value or $21.9 million on a cost basis (less than 1% of total investment portfolio)",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "886f7550-3a24-47f9-9d71-78fb1c20f066",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.7,
        "x": 0.06,
        "y": 0.92
      },
      "kind": "source-note",
      "text": "(1) These credit statistics exclude portfolio companies on non-accrual and four companies for which EBITDA is not a meaningful metric",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e4e19261-0cdd-4acf-b681-b1a6165349e1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.35,
        "x": 0.06,
        "y": 0.1
      },
      "kind": "title",
      "text": "LMM Investment Portfolio",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3a9dcefc-6a9a-4a64-82a2-32162426b75a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "1370752a-672c-4745-9714-f5a549dc6ffd",
      "evidence": "The slide presents information in a list/bullet format, highlighting LMM portfolio credit statistics and investment posture.",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 36,
      "from": 27,
      "beatId": "1dbeed3c-e72a-4a9e-81c2-106a425b4d37",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Financials",
      "beatSlug": "sequoia-pitch-financials",
      "evidence": "The document provides a detailed overview of MAIN's financial performance, including portfolio highlights and investment portfolio breakdown.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 36,
      "from": 28,
      "name": "Mece Breakdown",
      "slug": "40-mece-breakdown",
      "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
      "matchId": "ab6b8fc1-9636-4baa-b23b-c835d8534a81",
      "evidence": "The document presents a detailed breakdown of MAIN's portfolio by industry and cost.",
      "position": 0,
      "objective": "To provide a detailed breakdown of MAIN's diversified portfolio",
      "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
      "confidence": 0.8,
      "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}