THL Credit Inc.'s board on Dec. 17 authorized the company to repurchase up to $10 million of its common stock.
The share repurchase plan will expire Dec. 16, 2020. The company entered into a Rule 10b5-1 plan and plans to repurchase shares only through that plan at least until a shareholder meeting has been held to vote on a new investment advisory agreement between the company and THL Credit Advisors LLC related to the agreement for THL Credit Advisors to be acquired by a newly formed unit of First Eagle Investment Management LLC.
THL Credit in November completed its plan to repurchase $15 million of its common stock. The plan, which started in March, had a termination date of March 5, 2020.