Sierra Income Corporation Announces Q3 2013 Distributions

NEW YORK, NY (June 18, 2013) – Sierra Income Corporation (“Sierra” or the “Company”) today announced that its Board of Directors declared a series of semi-monthly distributions for July, August and September 2013 of $0.03333 per share. Stockholders of record as of each respective record date will be entitled to receive the distribution. Below are the details for each respective distribution;

Amount Per Share

 

Record Date                          

 

Payment Date

$0.03333                

 

July 15, 2013                          

 

July 31, 2013

$0.03333                

 

July 31, 2013                          

 

July 31, 2013

$0.03333                

 

August 15, 2013                    

 

August 30, 2013

$0.03333                

 

August 30, 2013                    

 

August 30, 2013

$0.03333                

 

September 13, 2013  

 

September 30, 2013

$0.03333                

 

September 30, 2013  

 

September 30, 2013

About Sierra Income Corporation

Sierra is a non-traded, externally managed, non-diversified closed end management investment company that has filed an election to be treated as a business development company under the Investment Company Act of 1940, as amended. The Company’s investment objective is to generate current income, and to a lesser extent, long-term capital appreciation. The Company invests primarily in senior secured debt, second lien debt and, to a lesser extent, subordinated debt of U.S. small and middle market companies with enterprise values ranging from approximately $50 million to $4 billion. Sierra’s investment activities are managed by its investment adviser, SIC Advisors, LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended.


About SIC Advisors LLC

SIC Advisors LLC, an affiliate of Medley LLC (“Medley”), is a registered investment adviser under the Investment Advisers Act of 1940, as amended. Medley specializes in credit investing, including direct private lending and corporate credit related strategies and provides first lien, second lien and unitranche term loans to lower middlemarket and middle-market companies with an investment size between $7 and 50 million. Medley supports acquisition and growth financings, leveraged buyouts, management buyouts, bank debt restructurings, CAPEX, Chapter 11 exit financing and DIP financing. Medley is headquartered in New York with offices in San Francisco.

There can be no assurance that we will be able to sustain distributions at any particular level. All distributions are subject to board approval. Sierra's previous distributions to stockholders were funded from expense support payments that are subject to repayment to its investment adviser, SIC Advisors LLC ("SIC Advisors"). The level of these distributions was not based on our investment performance and may not continue in the future. If SIC Advisors had not agreed to make expense support payments, these distributions would have come from paid in capital. The reimbursement of these payments owed to SIC Advisors will reduce the future distributions to which investors would otherwise be entitled.