NEW YORK, May 21 /PRNewswire-FirstCall/ -- GSC Investment Corp. (NYSE:
GNV), a business development company externally managed by GSC Group,
announced today that its Board of Directors has declared a dividend of
$0.24 per share payable on June 6, 2007 to common stockholders of record on
May 29, 2007. The dividend is for the "stub" fiscal quarter beginning March
28, 2007 and ending May 31, 2007.
    GSC Investment Corp. has now fully invested the proceeds of its initial
public offering completed on March 28, 2007, as well as the borrowings
under the credit facilities established on April 11, 2007 and May 1, 2007.
As of May 18, 2007, the Company had total assets of $215 million and total
outstanding borrowings under the credit facilities of $98 million. The
Company's investment portfolio carries a weighted average yield of 11.5%
and is comprised of approximately 14% first lien loans, 32% second lien
loans, 19% senior secured high-yield bonds and 35% unsecured high yield
bonds.
    About GSC Investment Corp.
    GSC Investment Corp. is a specialty finance company that invests
primarily in first and second lien loans and mezzanine and high yield debt
of private, U.S. middle-market companies and high yield bonds. It has
elected to be treated as a business development company under the
Investment Company Act of 1940. The Company also opportunistically invests
in distressed debt; debt and equity securities of public companies; credit
default swaps; emerging market debt; and collateralized debt obligation
vehicles holding debt, equity or synthetic securities. The Company draws
upon the support and investment advice of its external manager, GSC Group,
an alternative asset investment manager that focuses on complex,
credit-driven strategies. GSC Investment Corp. is traded on the New York
Stock Exchange under the symbol "GNV."
    Forward-Looking Statements
    Information provided in this press release may contain statements
relating to current expectations, estimates, forecasts and projections
about future events that are forward-looking statements. These
forward-looking statements generally relate to GSC Investment Corp.'s
plans, objectives and expectations for future operations and are based upon
management's current estimates and projections of future results or trends.
Actual future results may differ materially from those projected as a
result of certain risks and uncertainties. For a discussion of such risks
and uncertainties, see "Forward-Looking Statements" included in the
Company's final prospectus dated March 23, 2007, a copy of which has been
filed with the U.S. Securities and Exchange Commission in connection with
the Company's initial public offering. These forward-looking statements are
made only as of the date hereof, and GSC Investment Corp. undertakes no
obligation to update or revise the forward- looking statements, whether as
a result of the new information, future events or otherwise. Any
forward-looking statements do not have the benefit of the safe harbor for
forward-looking statements pursuant to Section 27A of the Securities Act of
1933.

Link to this page: