Tue, May 14, 5:17 PM (73 days ago)
For the quarter ended March 31, 2024, TriLinc Global Impact Fund, LLC reported a slight decrease in net asset value (NAV) per unit to $5.69 from $5.71 at the end of 2023, reflecting global economic conditions, inflation, and rising interest rates. The portfolio's fair value stood at $259.4 million, down from $261.7 million in December 2023. The portfolio is diversified across senior secured term loans (42.6%), term loan participations (31.6%), trade finance participations (10.8%), convertible notes (8.7%), other investments (5.5%), and equity warrants (0.8%). The company earned $6.4 million in investment income, with net investment income rising to $3.2 million from $2.8 million in Q1 2023. However, total expenses decreased to $3.2 million from $4.0 million. Distributions to unitholders amounted to $4.2 million, leading to a net decrease in net assets of $1.1 million. The company faced liquidity constraints due to inconsistent cash flows from borrowers and repaid $18 million outstanding under its credit facilities by August 2023. The unit repurchase program remains suspended, and the company paid special distributions in February and March 2024. Future strategies to address liquidity include potential sales of investments and new credit facilities.