Middle Market Lending

Annaly Middle Market Lending LLC (AMML) provides customized debt financing to middle-market businesses undertaking acquisitions, recapitalizations and refinancings. AMML’s direct origination strategy centers around strong partnerships with U.S.-based private equity sponsors and intermediaries to source financing opportunities. AMML also sources debt products by anchoring club and syndicated transactions. AMML investments represent $0.5bn of Annaly’s equity dedicated to credit, as of December 31, 2016. The robust credit work done in AMML gives Annaly a unique insight into domestic micro economies and is a powerful lens into the health of the business cycle. AMML’s investments complement Annaly’s longer duration fixed-rate agency mortgage backed securities portfolio, as they consist of shorter, floating-rate assets in comparison. AMML is a wholly-owned subsidiary of Annaly Capital Management, Inc.

Please click here to access the AMML fact sheet.

Lien Position
1st Lien 65% #7c91a6
2nd Lien 34% #4e6f99
Unsecured/Mezz 1% #c6bbaa
Loan Size
$0mm – $20mm 23% #4e6f99
$20mm – $40mm 35% #00304c
$40mm – $60mm 24% #c6bbaa
$60mm + 19% #7c91a6
Industry
Computer Prgm and Data Processing 19% #00316c
Miscellaneous Business Services 11% #7c91a6
Offices and Clinics of Doctors of Medicine 11% #c7bcaa
Insurance Agents, Brokers and Service 10% #a4a4a4
Commerical Fishing 5% #3d5257
Home Health Care Services 5% #475768
Personnel Supply Services 5% #001d41
Pharma 5% #626262
Aircraft and Parts 4% #027ba0
Other 25% #03abcd

Please click here to access Annaly MML’s fact sheet.

Note: Data as of December 31, 2016. Percentages based on principal outstanding and may not sum to 100% due to rounding.
(1) Based on Standard Industrial Classification (SIC) industry categories.
(2) Breakdown based on aggregate $ amount of individual investments made within the respective loan size buckets. Multiple investment positions with a single obligor shown as one individual investment.

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