N-Q 1 mmci-formnq_17815.htm BABSON CAPITAL CORPORATE INVESTORS mmci-formnq_17815.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


FORM N-Q


Quarterly Schedule of Portfolio Holdings of
Registered Management Investment Company

Investment Company Act file number 811-02183




Babson Capital Corporate Investors

(Exact name of registrant as specified in charter)



1500 Main Street, Springfield, MA 01115

(Address of principal executive offices) (Zip code)



Christopher A. DeFrancis, Vice President, Secretary and Chief Legal Officer
1500 Main Street, Suite 2800, Springfield, MA 01115

(Name and address of agent for service)



Registrant's telephone number, including area code: 413-226-1000


___________________


Date of fiscal year end: 12/31

___________________


Date of reporting period: 03/31/15

___________________

 
 


 
 
 
 
 
CONSOLIDATED SCHEDULE OF INVESTMENTS
March 31, 2015
(Unaudited)
 
 
Corporate Restricted Securities - 86.39%: (A)
 
Principal Amount,
Shares, Units or
Ownership Percentage
   
Acquisition
Date
   
Cost
   
Fair Value
 
                         
Private Placement Investments - 65.59%
                       
1492 Acquisition LLC
                       
A leading producer of premium Italian cured meats and deli meats in the U.S.
                   
14% Senior Subordinated Note due 10/17/2019
  $ 1,634,104    
10/17/12
    $ 1,609,933     $ 1,612,560  
Limited Liability Company Unit Class A Common (B)
 
27,273 uts.
   
10/17/12
      27,273        
Limited Liability Company Unit Class A Preferred (B)
 
245 uts.
   
10/17/12
      245,450       200,727  
                    1,882,656       1,813,287  
A S C Group, Inc.
                             
A designer and manufacturer of high reliability encryption equipment, communications products, computing systems and electronic components primarily for the military and aerospace sectors.
 
14% Senior Subordinated Note due 12/21/2020
  $ 1,981,937    
12/20/13
      1,947,838       2,001,757  
Limited Liability Company Unit Class A (B)
 
5,843 uts.
                 *       290,317       585,715  
Limited Liability Company Unit Class B (B)
 
2,793 uts.
   
10/09/09
      100,114       279,976  
* 10/09/09 and 12/20/13.
                  2,338,269       2,867,448  
 
A W X Holdings Corporation                        
A provider of aerial equipment rental, sales and repair services to non-residential construction and maintenance contractors operating in the State of Indiana.  
10.5% Senior Secured Term Note due 05/15/2015 (D)
  $ 735,000    
05/15/08
      724,402       367,500  
13% Senior Subordinated Note due 05/15/2015 (D)
  $ 735,000    
05/15/08
      673,096        
Common Stock (B)
105,000 shs.
   
05/15/08
      105,000        
Warrant, exercisable until 2015, to purchase
                             
common stock at $.01 per share (B)
 
36,923 shs.
   
05/15/08
      62,395        
                    1,564,893       367,500  
ABC Industries, Inc.
                             
A manufacturer of mine and tunneling ventilation products in the U.S.
                       
13% Senior Subordinated Note due 07/31/2019
  $ 436,364    
08/01/12
      402,672       440,727  
Preferred Stock Series A (B)
300,000 shs.
   
08/01/12
      300,000       642,693  
Warrant, exercisable until 2022, to purchase
                             
common stock at $.02 per share (B)
 
53,794 shs.
   
08/01/12
      101,870       109,970  
                    804,542       1,193,390  
ACP Cascade Holdings LLC
                         
A manufacturer and distributor of vinyl windows and patio doors throughout the northwestern United States. 
 
Limited Liability Company Unit Class B (B)    64 uts.     11/09/12            
                           
Advanced Manufacturing Enterprises LLC
                         
A designer and manufacturer of large, custom gearing products for a number of critical customer applications.
               
14% Senior Subordinated Note due 12/17/2018
  $ 2,723,077    
12/07/12
      2,694,079       2,750,308  
Limited Liability Company Unit (B)
 
3,434 uts.
                 *       343,385       482,359  
* 12/07/12 and 07/11/13.
                  3,037,464       3,232,667  
 

8
 
 

 
Babson Capital Corporate Investors
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
Corporate Restricted Securities: (A) (Continued)  
Principal Amount, Shares, Units or
Ownership Percentage
   
Acquisition
Date
     
Cost
     
Fair Value
 
                               
Advanced Technologies Holdings
                             
A provider of factory maintenance services to industrial companies.
                       
Preferred Stock Series A (B)
 
626 shs.
   
12/27/07
    $ 309,806     $ 953,575  
Convertible Preferred Stock Series B (B)
 
52 shs.
   
01/04/11
      40,800       79,950  
                    350,606       1,033,525  
AFC - Dell Holding Corporation                              
A distributor and provider of inventory management services for “C-Parts” used by OEMs in their manufacturing and production facilities.
12.5% Senior Subordinated Note due 09/27/2020
  $ 2,396,739    
03/27/15
      2,348,888       2,395,795  
Preferred Stock (B)
 
2,276 shs.
   
03/27/15
      227,558       216,180  
Common Stock (B)
 
703 shs.
   
03/27/15
      703       668  
                    2,577,149       2,612,643  
Airxcel Holdings                              
A leading manufacturer of a broad range of climate control solutions, including air-conditioners, heat pumps, cooking appliances, furnaces, powered vents, and water heaters.  
12.5% Senior Subordinated Note due 11/18/2020
  $ 2,933,185    
11/18/14
      2,877,302       2,978,251  
Limited Liability Company Unit
 
583 uts.
   
11/18/14
      583,000       583,839  
                    3,460,302       3,562,090  
American Hospice Management Holding LLC
                             
A for-profit hospice care provider in the United States.
                             
12% Senior Subordinated Note due 03/31/2020 (D)
  $ 2,337,496                  *       2,337,236       2,337,496  
Preferred Class A Unit (B)
 
3,223 uts.
               **       322,300        
Preferred Class B Unit (B)
 
1,526 uts.
   
06/09/08
      152,626       154,997  
Common Class B Unit (B)
 
30,420 uts.
   
01/22/04
      1        
Common Class D Unit (B)
 
6,980 uts.
   
09/12/06
      1        
* 01/22/04 and 06/09/08.
                  2,812,164       2,492,493  
** 01/22/04 and 09/16/06.
                             
                               
AMS Holding LLC
                             
A leading multi-channel direct marketer of high-value collectible coins and proprietary-branded jewelry and watches.
         
Limited Liability Company Unit Class A Preferred (B)
 
273 uts.
   
10/04/12
      272,727       826,455  
                             
Animal Supply Company
                             
A distributor of pet products to independent pet stores, veterinary clients and other pet specialty retailers.
         
9.5% Senior Subordinated Note due 09/05/2019
  $ 3,500,000    
03/30/15
      3,447,565       3,447,033  
                               
Arch Global Precision LLC
                             
A leading manufacturer of high tolerance precision components and consumable tools.
                 
Limited Liability Company Unit Class B (B)
 
60 uts.
   
12/21/11
      85,250       289,833  
Limited Liability Company Unit Class C (B)
 
690 uts.
   
12/21/11
      664,750       2,887,206  
                    750,000       3,177,039  
 

9
 
 
 
 
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
Corporate Restricted Securities: (A) (Continued)   Principal Amount,
Shares, Units or
Ownership Percentage
    Acquisition
Date
    Cost     Fair Value  
                         
ARI Holding Corporation
                       
A leading national supplier of products used primarily by specialty contractors.
                   
11.5% Senior Subordinated Note due 02/01/2020
  $ 3,396,394                  *     $ 3,347,555     $ 3,437,699  
Limited Partnership Interest
 
1,048 uts.
   
08/01/14
      1,047,900       1,011,502  
* 05/21/13 and 08/01/14.
                  4,395,455       4,449,201  
                               
Arrow Tru-Line Holdings, Inc.
                             
A manufacturer of hardware for residential and commercial overhead garage doors in North America.
                 
Preferred Stock (B)
 
51 shs.
   
10/16/09
      50,670       198,715  
Common Stock (B)
 
402 shs.
   
05/18/05
      401,555       121,619  
Warrant, exercisable until 2016, to purchase
                             
common stock at $.01 per share (B)
 
105 shs.
   
05/18/05
      90,532       31,883  
                    542,757       352,217  
Avantech Testing Services LLC                              
A manufacturer of custom Non-Destructive Testing (“NDT”) systems and provider of NDT and inspections services primarily to the oil country tubular goods market.  
15% Senior Subordinated Note due 07/31/2021
  $ 1,025,206    
07/31/14
      1,006,848       886,711  
Limited Liability Company Unit
 
75,000 uts.
   
07/31/14
      750,000       680,510  
                    1,756,848       1,567,221  
Blue Wave Products, Inc.
                             
A distributor of pool supplies.
                             
10% Senior Secured Term Note due 09/30/2018
  $ 625,532    
10/12/12
      617,307       625,532  
13% Senior Subordinated Note due 09/30/2019
  $ 732,765    
10/12/12
      692,967       747,420  
Common Stock (B)
114,894 shs.
   
10/12/12
      114,894       294,116  
Warrant, exercisable until 2022, to purchase
                             
common stock at $.01 per share (B)
 
45,486 shs.
   
10/12/12
      45,486       116,439  
                    1,470,654       1,783,507  
BP SCI LLC
                             
A leading value-added distributor of branded pipes, valves, and fittings (PVF) to diversified end markets.
                 
Limited Liability Company Unit Class A (B)
 
1,000 uts.
   
10/17/12
      100,000       634,596  
Limited Liability Company Unit Class B (B)
 
400 uts.
   
10/17/12
      400,000       521,059  
                    500,000       1,155,655  
Bravo Sports Holding Corporation                              
A designer and marketer of niche branded consumer products including canopies, trampolines, in-line skates, skateboards, and urethane wheels.
12.5% Senior Subordinated Note due 06/30/2015
  $ 2,281,593    
06/30/06
      2,280,357       2,281,593  
Preferred Stock Class A (B)
 
879 shs.
   
06/30/06
      268,121        
Common Stock (B)
 
1 sh.
   
06/30/06
      286        
Warrant, exercisable until 2015, to purchase
                             
common stock at $.01 per share (B)
 
309 shs.
   
06/30/06
      92,102        
                    2,640,866       2,281,593  
 

10
 
 

 
Babson Capital Corporate Investors
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
Corporate Restricted Securities: (A) (Continued)  
Principal Amount,
Shares, Units or
Ownership Percentage
   
Acquisition
Date
   
Cost
   
Fair Value
 
                         
CG Holdings Manufacturing Company                        
A coating provider serving the automotive, agricultural, heavy truck and other end markets.
                       
13% Senior Subordinated Note 11/01/2019
  $ 3,390,252                  *     $ 3,231,966     $ 3,472,549  
Preferred Stock (B)
 
3,241 shs.
                 *       324,054       356,003  
Preferred Stock (B)
 
1,174 shs.
                 *       116,929       128,983  
Common Stock (B)
 
337 shs.
                 *       35,673       119,680  
Warrant, exercisable until 2023, to purchase
                             
common stock at $.01 per share (B)
 
137 shs.
                 *       13,033       48,693  
* 05/09/13 and 11/01/13.
                  3,721,655       4,125,908  
 
CHG Alternative Education Holding Company                              
A leading provider of publicly-funded, for profit pre-K-12 education services targeting special needs children at therapeutic day schools and “at risk” youth through alternative education programs.  
13.5% Senior Subordinated Note due 01/19/2018
  $ 2,278,120    
01/19/11
      2,210,908       2,278,120  
14% Senior Subordinated Note due 08/03/2019
  $ 593,565    
08/03/12
      585,366       599,501  
Common Stock (B)
 
1,125 shs.
   
01/19/11
      112,500       161,873  
Warrant, exercisable until 2021, to purchase
                             
common stock at $.01 per share (B)
 
884 shs.
   
01/19/11
      87,750       127,242  
                    2,996,524       3,166,736  
Church Services Holding Company
                             
A provider of diversified residential services to homeowners in the Houston, Dallas, and Austin markets.
                 
14.5% Senior Subordinated Note due 03/26/2018
  $ 1,274,295    
03/26/12
      1,249,367       1,274,295  
10% Senior Subordinated Note due 09/12/2015
  $ 20,045    
09/15/14
      20,045       20,079  
Common Stock (B)
 
3,981 shs.
                 *       398,100       342,411  
Warrant, exercisable until 2022, to purchase
                             
common stock at $.01 per share (B)
 
172 shs.
   
03/26/12
      17,220       14,794  
* 03/26/12, 05/25/12 and 06/19/12.
                  1,684,732       1,651,579  
 
Clarion Brands Holding Corp.                              
A portfolio of six over-the-counter (OTC) pharmaceutical brands whose products are used to treat tinnitus or ringing of the ear, excessive sweating, urinary tract infections, muscle pain, and skin conditions.  
12.5% Senior Subordinated Note due 09/30/2021
  $ 3,205,726    
10/01/14
      3,145,014       3,240,788  
Common Stock (B)
    3,182    
10/01/14
      318,182       206,820  
                    3,463,196       3,447,608  
Clough, Harbour and Associates
                             
An engineering service firm that is located in Albany, NY.
                             
Preferred Stock (B)
 
277 shs.
   
12/02/08
      276,900       729,198  
 

11
 
 

 
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
Corporate Restricted Securities: (A) (Continued)
 
Principal Amount,
Shares, Units or
Ownership Percentage
   
Acquisition
Date
   
Cost
   
Fair Value
 
                         
Compass Chemical International LLC
                             
A manufacturer and supplier of standard and specialty formulated chemicals, primarily phosphoric acid derivatives called phosphonates.
 
13% Senior Subordinated Note due 10/4/2020
  $ 3,037,681    
03/04/15
    $ 2,977,174     $ 3,055,478  
Limited Liability Company Unit
 
467 uts.
   
03/04/15
      466,700       443,365  
                    3,443,874       3,498,843  
Connecticut Electric, Inc.
                             
A supplier and distributor of electrical products sold into the retail and wholesale markets.
                 
Limited Liability Company Unit Class A (B)
 
156,046 uts.
   
01/12/07
      156,046       143,137  
Limited Liability Company Unit Class C (B)
 
112,873 uts.
   
01/12/07
      112,873       110,953  
Limited Liability Company Unit Class D (B)
 
1,268,437 uts.
   
05/03/10
            1,444,660  
Limited Liability Company Unit Class E (B)
 
2,081 uts.
   
05/03/10
             
                    268,919       1,698,750  
Crane Rental Corporation
                             
A crane rental company since 1960, headquartered in Florida.
                             
13% Senior Subordinated Note due 11/30/2015
  $ 1,313,250    
08/21/08
      1,295,633       1,313,250  
Common Stock (B)
 
255,000 shs.
   
08/21/08
      255,000       247,524  
Warrant, exercisable until 2016, to purchase
                             
common stock at $.01 per share (B)
 
136,070 shs.
   
08/21/08
      194,826       132,080  
                    1,745,459       1,692,854  
CTM Holding, Inc.
                             
A leading owner and operator of coin-operated children’s rides, penny presses and candy kiosks in the U.S.
         
15% Senior Subordinated Note due 11/22/2019
  $ 2,461,586    
11/22/13
      2,421,597       2,510,818  
Common Stock (B)
 
62,088 shs.
   
11/22/13
      886,364       702,183  
                    3,307,961       3,213,001  
Custom Engineered Wheels, Inc.
                             
A manufacturer of custom engineered, non-pneumatic plastic wheels and plastic tread cap tires used primarily for lawn and garden products and wheelchairs.
 
Preferred Stock PIK (B)
 
296 shs.
   
10/26/09
      295,550       340,790  
Preferred Stock Series A (B)
 
216 shs.
   
10/27/09
      197,152       248,994  
Common Stock (B)
 
72 shs.
   
10/26/09
      72,238        
Warrant, exercisable until 2016, to purchase
                             
common stock at $.01 per share (B)
 
53 shs.
   
10/27/09
      48,608        
                    613,548       589,784  
DPL Holding Corporation
                           
A distributor and manufacturer of aftermarket undercarriage parts for medium and heavy duty trucks and trailers.
 
14% Senior Subordinated Note due 05/04/2019
  $ 3,253,895    
05/04/12
      3,210,812       3,286,434  
Preferred Stock (B)
 
61 shs.
   
05/04/12
      605,841       719,447  
Common Stock (B)
 
61 shs.
   
05/04/12
      67,316       340,060  
                    3,883,969       4,345,941  
 

12
 
 

 
Babson Capital Corporate Investors
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
Corporate Restricted Securities: (A) (Continued)
 
Principal Amount,
Shares, Units or
Ownership Percentage
   
Acquisition
Date
   
 
Cost
   
 
Fair Value
 
                         
Dunn Paper
                             
A provider of specialty paper for niche product applications.
                             
11.25% Senior Subordinated Note due 06/30/2020
  $ 2,969,697    
12/30/14
    $ 2,912,306     $ 2,995,473  
Preferred Stock (B)
 
530 shs.
   
12/30/14
      530,303       503,785  
                    3,442,609       3,499,258  
E S P Holdco, Inc.
                             
A manufacturer of power protection technology for commercial office equipment, primarily supplying the office equipment dealer network.
 
Common Stock (B)
 
660 shs.
   
01/08/08
      329,990       658,798  
                               
Eatem Holding Company
                             
A developer and manufacturer of savory flavor systems for soups, sauces, gravies, and other products produced by food manufacturers for retail and foodservice end products.
 
Common Stock (B)
 
150 shs.
   
02/01/10
      150,000       277,064  
Warrant, exercisable until 2018, to purchase
                             
common stock at $.01 per share (B)
 
358 shs.
   
02/01/10
      321,300       660,614  
                    471,300       937,678  
ECG Consulting Group
                             
A healthcare management consulting company who provides strategic, financial, operational, and technology related consulting services to healthcare providers.
 
11.75% Senior Subordinated Note due 11/21/2020
  $ 2,632,059    
11/19/14
      2,574,780       2,668,953  
Limited Liability Company Unit (B)
 
467 uts.
   
11/19/14
      145,833       128,868  
                    2,720,613       2,797,821  
EPM Holding Company
                             
A provider of non-discretionary regulatory driven engineering services that support mission critical safety and operational aspects of nuclear power plants.
 
14.5% Senior Subordinated Note due 07/26/2019
  $ 883,970    
07/26/13
      869,882       901,650  
Common Stock
 
3,069 shs.
   
07/26/13
      306,947       475,636  
                    1,176,829       1,377,286  
ERG Holding Company LLC
                             
A provider of inpatient and outpatient clinical trial services to pharmaceutical companies and contract research organizations.
 
13.5% Senior Subordinated Note due 10/04/2019
  $ 1,915,925    
04/04/14
      1,883,042       1,919,125  
Common Stock (B)
 
63 shs.
   
04/04/14
      157,314       157,325  
                    2,040,356       2,076,450  
F F C Holding Corporation
                             
A leading U.S. manufacturer of private label frozen novelty and ice cream products.
                       
Limited Liability Company Unit Preferred (B)
 
512 uts.
   
09/27/10
      175,035       205,807  
Limited Liability Company Unit (B)
 
512 uts.
   
09/27/10
      51,220       439,003  
                    226,255       644,810  
 

13
 
 

 
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
Corporate Restricted Securities: (A) (Continued)
 
Principal Amount,
Shares, Units or
Ownership Percentage
   
Acquisition
Date
   
Cost
   
Fair Value
 
                         
F G I Equity LLC
                             
A manufacturer of a broad range of filters and related products that are used in commercial, light industrial, healthcare, gas turbine, nuclear, laboratory, clean room, hotel, educational system, and food processing settings.
 
Limited Liability Company Unit Preferred (B)
 
483,355 uts.
   
04/15/14
    $     $ 483,355  
Limited Liability Company Unit Class B-1 (B)
 
394,737 uts.
   
12/15/10
      394,737       703,506  
Limited Liability Company Unit Class B-2 (B)
 
49,488 uts.
   
12/15/10
      49,488       88,198  
Limited Liability Company Unit Class B-3 (B)
 
39,130 uts.
   
08/30/12
      90,000       79,404  
Limited Liability Company Unit Class C (B)
 
9,449 uts.
   
12/20/10
      96,056       145,726  
                    630,281       1,500,189  
G C Holdings
                             
A leading manufacturer of gaming tickets, industrial recording charts, security-enabled point-of sale receipts, and medical charts and supplies.
 
Warrant, exercisable until 2018, to purchase
                             
common stock at $.01 per share (B)
 
594 shs.
   
10/19/10
      140,875       402,384  
                               
GD Dental Services LLC
                             
A provider of convenient “onestop” general, specialty, and cosmetic dental services with 21 offices located throughout South and Central Florida.
 
Limited Liability Company Unit Common (B)
 
1,840 uts.
   
10/05/12
      1,840       73,530  
Limited Liability Company Unit Preferred (B)
 
182 uts.
   
10/05/12
      182,209       210,639  
                    184,049       284,169  
GenNx Novel Holding, Inc.
                             
A manufacturer and distributor of nutraceutical ingredients.
                             
13% Senior Subordinated Note due 03/27/2020
  $ 3,209,906    
03/27/14
      3,153,886       3,209,906  
Common Stock (B)
 
31,500 shs.
   
03/27/14
      315,000       225,243  
                    3,468,886       3,435,149  
gloProfessional Holdings, Inc.
                             
A marketer and distributor of premium mineral-based cosmetics, cosmeceuticals and professional hair care products to the professional spa and physician’s office channels.
 
14% Senior Subordinated Note due 03/27/2019
  $ 2,827,586    
03/27/13
      2,786,634       2,827,586  
Common Stock (B)
 
2,835 shs.
   
03/27/13
      283,465       414,922  
                    3,070,099       3,242,508  
Golden County Foods Holding, Inc.
                             
A manufacturer of frozen appetizers and snacks.
                             
14% Senior Subordinated Note due 11/13/2019 (D)
  $ 73,550    
11/13/13
      436,682        
Preferred Stock (B)
 
287,658 shs.
   
11/13/13
      146,658        
Preferred Stock Series F (B)
 
294,200 shs.
   
11/13/13
      1,746,726        
                    2,330,066        
 

14
 
 

 
Babson Capital Corporate Investors
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
 
Corporate Restricted Securities: (A) (Continued)
 
Principal Amount,
Shares, Units or
Ownership Percentage
   
Acquisition
Date
   
Cost
   
Fair Value
 
                         
Grakon Parent
                             
The leading designer and manufacturer of highly-engineered and customized LED and incandescent lighting systems for transportation-based markets.
 
12% Senior Subordinated Note due 04/30/2021
  $ 3,145,270    
10/31/14
    $ 3,085,101     $ 3,183,185  
Common Stock (B)
 
355 shs.
   
10/31/14
      354,730       363,192  
                    3,439,831       3,546,377  
GTI Holding Company
                             
A designer, developer, and marketer of precision specialty hand tools and handheld test instruments.
                 
12% Senior Subordinated Note due 02/05/2020
  $ 1,455,729    
02/05/14
      1,366,796       1,467,969  
Common Stock (B)
 
1,693 shs.
   
02/05/14
      169,271       167,174  
Warrant, exercisable until 2024, to purchase
                             
common stock at $.01 per share (B)
 
795 shs.
   
02/05/14
      73,633       78,502  
                    1,609,700       1,713,645  
Handi Quilter Holding Company
                             
A designer and manufacturer of long-arm quilting machines and related components for the consumer quilting market.
         
12% Senior Subordinated Note due 06/19/2021
  $ 2,916,667    
12/19/14
      2,860,020       2,944,681  
Limited Liability Company (B)
 
583 uts.
   
12/19/14
      583,336       584,864  
Limited Liability Company (B)
 
5,833 uts.
   
12/19/14
            25,665  
                    3,443,356       3,555,210  
Hartland Controls Holding Corporation
                             
A manufacturer and distributor of electronic and electromechanical components.
         
14% Senior Subordinated Note due 08/14/2019
  $ 2,211,488    
02/14/14
      2,173,714       2,255,718  
Preferred Stock Series A (B)
 
5,169 shs.
   
02/14/14
      516,852       563,643  
Common Stock (B)
 
1,666 shs.
   
02/14/14
      1,667       323,300  
                    2,692,233       3,142,661  
Healthcare Direct Holding Company
                             
A direct-to-consumer marketer of discount dental plans.
                             
Common Stock (B)
 
1,552 shs.
   
03/09/12
      155,172       226,079  
                               
HHI Group, LLC
                             
A developer, marketer, and distributor of hobby-grade radio control products.
   
14% Senior Subordinated Note due 01/17/2020
  $ 3,121,050    
01/17/14
      3,068,544       3,147,050  
Limited Liability Company Unit (B)
 
203 uts.
   
01/17/14
      203,125       138,515  
                    3,271,669       3,285,565  
 

15
 
 

 
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
Corporate Restricted Securities: (A) (Continued)
 
Principal Amount, Shares, Units or Ownership Percentage
   
Acquisition
Date
   
Cost
   
Fair Value
 
                         
Hi-Rel Group LLC
                             
A manufacturer and distributor of precision metal piece parts for the microelectronic packaging industry, serving the aerospace/ defense, telecommunications, and medical end markets.
 
12% Senior Subordinated Note due 03/15/2018
    1,687,500    
04/15/13
    $ 1,611,148     $ 1,703,789  
Limited Liability Company Unit (B)
 
563 uts.
   
04/15/13
      562,500       430,161  
Warrant, exercisable until 2020, to purchase
                             
common stock at $.01 per share (B)
 
89,224 shs.
   
04/15/13
      77,625       64,818  
                    2,251,273       2,198,768  
HOP Entertainment LLC
                             
A provider of post production equipment and services to producers of television shows and motion pictures.
         
Limited Liability Company Unit Class F (B)
 
89 uts.
   
10/14/11
             
Limited Liability Company Unit Class G (B)
 
215 uts.
   
10/14/11
             
Limited Liability Company Unit Class H (B)
 
89 uts.
   
10/14/11
             
Limited Liability Company Unit Class I (B)
 
89 uts.
   
10/14/11
             
                           
Hospitality Mints Holding Company
                             
A manufacturer of individually-wrapped imprinted promotional mints.
                       
12% Senior Subordinated Note due 08/19/2016
  $ 2,075,581    
08/19/08
      2,032,770       2,075,581  
Common Stock (B)
 
474 shs.
   
08/19/08
      474,419       152,035  
Warrant, exercisable until 2016, to purchase
                             
common stock at $.01 per share (B)
 
123 shs.
   
08/19/08
      113,773       39,295  
                    2,620,962       2,266,911  
HVAC Holdings, Inc.
                             
A provider of integrated energy efficiency services and maintenance programs for HVAC systems.
                 
12.5% Senior Subordinated Note due 09/27/2019
  $ 2,857,015    
09/27/12
      2,815,064       2,885,585  
Limited Liability Company Unit Class A Common (B)
 
2,185 uts.
   
09/27/12
      2,185       73,361  
Limited Liability Company Unit Class A Preferred (B)
 
2,705 uts.
   
09/27/12
      270,542       341,319  
                    3,087,791       3,300,265  
Ideal Tridon Holdings, Inc.
                             
A designer and manufacturer of clamps and couplings used in automotive and industrial end markets.
 
Common Stock (B)
 
279 shs.
   
10/27/11
      278,561       562,601  
                               
Impact Confections
                             
An independent manufacturer and marketer of confectionery products including Warheads® brand sour candies, Melster® brand classic candies, and co-manufactured/private label classic candies.
 
13% Senior Subordinated Note due 11/04/2020
  $ 2,166,794    
11/10/14
      2,125,529       2,196,030  
Common Stock (B)
 
4,667 shs.
   
11/10/14
      466,667       320,404  
                    2,592,196       2,516,434  
 

16
 
 

 
Babson Capital Corporate Investors
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
 
Corporate Restricted Securities: (A) (Continued)
 
Principal Amount,
Shares, Units or
Ownership Percentage
   
Acquisition
Date
   
Cost
   
Fair Value
 
                         
Insurance Claims Management, Inc.
                             
A third party administrator providing auto and property claim administration services for insurance companies.
         
Common Stock (B)
 
89 shs.
   
02/27/07
    $ 2,689     $ 462,168  
                               
J A C Holding Enterprises, Inc.
                             
A supplier of luggage racks and accessories to the original equipment manufacturers.
   
Preferred Stock A (B)
 
495 shs.
   
12/20/10
      495,000       607,566  
Preferred Stock B (B)
 
0.17 shs.
   
12/20/10
            205  
Common Stock
 
100 shs.
   
12/20/10
      5,000        
Warrant, exercisable until 2020, to purchase
                             
common stock at $.01 per share
 
36 shs.
   
12/20/10
      316,930       173,713  
                    816,930       781,484  
Janus Group Holdings LLC
                             
A manufacturer of roll-up doors and hallway systems that are primarily used in self-storage facilities.
 
13.5% Senior Subordinated Note due 06/10/2019
  $ 2,684,783    
12/11/13
      2,640,425       2,738,479  
Limited Liability Company Unit Class A (B)
 
565 uts.
   
12/11/13
      278,515       946,897  
                    2,918,940       3,685,376  
JMH Investors LLC
                             
A developer and manufacturer of custom formulations for a wide variety of foods.
14.25% Senior Subordinated Note due 12/05/2019
  $ 2,610,819    
12/05/12
      2,572,530       2,473,775  
Limited Liability Company Unit (B)
 
748,119 uts.
   
12/05/12
      539,849       174,323  
                    3,112,379       2,648,098  
K & N Parent, Inc.
                             
A manufacturer and supplier of automotive aftermarket performance air filters and intake systems.
 
Preferred Stock Series A
 
305 shs.
   
12/23/11
             
Preferred Stock Series B
 
86 shs.
   
12/23/11
             
Common Stock
 
489 shs.
                *       19,565       477,422  
* 12/23/11 and 06/30/14.
                  19,565       477,422  
                               
K N B Holdings Corporation
                             
A designer, manufacturer and marketer of products for the custom framing market.
 
Common Stock (B)
 
134,210 shs.
   
05/24/06
      134,210       108,427  
Warrant, exercisable until 2016, to purchase
                             
common stock at $.01 per share (B)
 
82,357 shs.
   
05/25/06
      71,534       66,535  
                    205,744       174,962  
 

17
 
 

 
 
CONSOLIDATED SCHEDULE OF INVESTMENTS (CONTINUED)
March 31, 2015
(Unaudited)
 
 
Corporate Restricted Securities: (A) (Continued)
 
Principal Amount,
Shares, Units or
Ownership Percentage
   
Acquisition
Date
   
Cost
   
Fair Value
 
                         
K P I Holdings, Inc.
                             
The largest player in the U.S. non-automotive, non-ferrous die casting segment.
                       
Convertible Preferred Stock Series C (B)
 
55 shs.
   
06/30/09
    $ 55,435     $ 187,733  
Convertible Preferred Stock Series D (B)
 
24 shs.
   
09/17/09
      24,476       79,528  
Common Stock (B)
 
443 shs.
   
07/15/08
      443,478       387,845  
Warrant, exercisable until 2018, to purchase
                             
common stock at $.01 per share (B)
 
96 shs.
   
07/16/08
      96,024       83,974  
Warrant, exercisable until 2018, to purchase
                             
common stock at $.01 per share (B)
 
128 shs.
   
09/17/09
            111,592  
                    619,413       850,672  
M V I Holding, Inc.
                             
A manufacturer of large precision machined metal components used in equipment which services a variety of industries, including the oil and gas, mining, and defense markets.
 
Common Stock (B)
 
61 shs.
   
09/12/08
      60,714        
Warrant, exercisable until 2018, to purchase
                             
common stock at $.01 per share (B)
 
66 shs.
   
09/12/08
      65,571        
                    126,285        
Mail Communications Group, Inc.