Tue, May 14, 9:11 PM (73 days ago)
Muzinich BDC, Inc. reported its quarterly financial results for the period ended March 31, 2024. The company's total assets decreased to $256.2 million from $267.6 million at the end of 2023. Net assets increased slightly to $177.7 million. Investment income rose to $5.8 million, driven by higher interest income from investments, compared to $3.1 million in the same period last year. Total expenses increased to $1.03 million, primarily due to higher management fees corresponding to increased investment activities. Net investment income more than doubled to $4.75 million. However, the company reported a net decrease in net assets resulting from operations of $0.48 million, due to unrealized depreciation on investments of $4.27 million. Muzinich BDC maintained a strong asset coverage ratio of 330%, indicating prudent leverage management under its credit facility with BNP Paribas. The company did not declare any distributions for the quarter. Future operations are expected to continue leveraging capital commitments and strategic borrowings to drive investment growth.