Investcorp Credit Management BDC, Inc. (ICMB) reported its monetary outcomes recently for its fiscal first quarter ended September 30, 2019. The Company was previously understood as CM Finance Inc till August 30, 2019.
On 20 Jan 2020, Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) found trading -14.30% off 52-week high rate. On the other end, the stock has actually been noted 14.36% away from the low cost over the last 52-weeks. The stock changed -0.28% to recent worth of $7.01. Distributions might consist of net financial investment income, capital gains and/or return of capital, nevertheless, the Company does not expect the circulation to be made up of a return of capital.
On November 6, 2019, the Companys Board of Directors (the “Board”) reported a distribution for the quarter ending December 31, 2019 of $ 0.25 per share, payable on January 2, 2020, to stockholders of record as of December 13, 2019. This represents a 14.77% yield on the Companys $ 6.77 share rate since market close on November 11, 2019. Circulations might include net financial investment income, capital gains and/or return of capital, however, the Company does not anticipate the circulation to be consisted of a return of capital. The tax status of circulations will be determined at the end of the taxable year.
Portfolio and Investment Activities
Throughout the quarter, the Company made financial investments in four portfolio business, of which three were brand-new portfolio companies, and one was an existing portfolio company. The aggregate capital invested during the quarter totaled $ 20.3 mm at expense, and financial investments were made at a weighted typical yield of 8.18%.
The Company realized $ 21.5 mm of repayments, sales, and amortization, including sales of FPC Holdings, Immucor, PR Wireless, and Sears Holding Company, along with the sale of a portion of the Companys position in Specialty Building Products Holdings. The Company realized and latent gains and losses accounted for a decrease in the Companys net investments of about $ 4.4 mm, or $ 0.33 per share. The total net decrease in net possessions arising from operations for the quarter was $ 0.9 mm, or $ 0.07 per share.
As of September 30, 2019, the Companys investment portfolio consisted of investments in 33 portfolio business, of which 77.9% were first lien financial investments, 18.4% were second lien investments, and 3.7% were unitranche loans. The Companys financial obligation portfolio included 96.8% floating rate financial investments and 3.2% repaired rate financial investments.
As of September 30, 2019, the Company had one financial investment on non-accrual status, the Term Loan B of Fusion Connect Inc
. Capital Resources
As of September 30, 2019, the Company had $ 3.4 mm in cash, $ 7.4 mm in limited money and $ 11.0 mm of capacity under its revolving credit center with UBS AG, London Branch.
The cost continued of 1.00% from the mean of 20 days, 0.41% from mean of 50 days SMA and carried out -1.12% from mean of 200 days cost. Companys performance for the week was -1.27%, 0.57% for month and YTD efficiency stayed 4.63%.
On 20 Jan 2020, Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) found trading -14.30% off 52-week high price. On the other end, the stock has actually been kept in mind 14.36% away from the low price over the last 52-weeks. The stock altered -0.28% to current value of $7.01. The stock negotiated 5506 shares during most recent day nevertheless it has an average volume of 26.32 K shares.