Wed, Sep 25, 9:24 PM (87 days ago)
Investcorp Credit Management BDC, Inc. reported a net asset value (NAV) of $5.21 per share as of June 30, 2024, down from $6.09 a year earlier. The company’s total assets decreased to $192.2 million, primarily due to a reduction in investment income from $26.7 million in 2023 to $23.9 million in 2024, attributed to the sale and repayment of portfolio companies. Total expenses remained stable at $17.3 million, resulting in a net investment income decline from $9.4 million to $6.6 million. The company recorded a net realized loss of $14.0 million in 2024, a decrease from $26.9 million in 2023, while net unrealized appreciation improved to $3.3 million from $20.7 million. As of June 30, 2024, the portfolio consisted of 41 companies, with 85.02% in first lien investments. The company maintains a $100 million revolving credit facility with Capital One, with $43 million drawn as of the reporting date. Investcorp faces risks including reliance on key personnel, market competition, and economic downturns, which could adversely affect its operations and financial condition. Future investments will focus on middle-market companies, emphasizing credit quality and selective investment opportunities.