bkcc-10q_20200630.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended June 30, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from                  to                 

Commission file number 814-00712

BLACKROCK CAPITAL INVESTMENT CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

 

 

 

Delaware

20-2725151

(State or Other Jurisdiction of

Incorporation or Organization)

(I.R.S. Employer

Identification No.)

 

 

40 East 52nd Street, New York, NY

10022

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212-810-5800

 

      

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer     Accelerated filer     Non-Accelerated filer     

Smaller reporting company     Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value

BKCC

NASDAQ Global Select Market

The number of shares of the Registrant’s common stock, $.001 par value per share, outstanding at July 29, 2020 was 70,172,274.

 

 

 


 

BLACKROCK CAPITAL INVESTMENT CORPORATION

FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2020

Table of Contents

 

 

INDEX

PAGE NO.

 

 

 

PART I.

FINANCIAL INFORMATION

 

 

 

 

Item 1.

CONSOLIDATED FINANCIAL STATEMENTS

3

 

 

 

 

Consolidated Statements of Assets and Liabilities as of June 30, 2020 and December 31, 2019 (unaudited)

3

 

 

 

 

Consolidated Statements of Operations for the three and six months ended June 30, 2020 and 2019 (unaudited)

4

 

 

 

 

Consolidated Statements of Changes in Net Assets for the three and six months ended June 30, 2020 and 2019 (unaudited)

5

 

 

 

 

Consolidated Statements of Cash Flows for the six months ended June 30, 2020 and 2019 (unaudited)

6

 

 

 

 

Consolidated Schedules of Investments as of June 30, 2020 and December 31, 2019 (unaudited)

7

 

 

 

 

Notes to Consolidated Financial Statements (unaudited)

22

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

47

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

57

 

 

 

Item 4.

Controls and Procedures

57

 

 

 

PART II.

OTHER INFORMATION

 

 

 

 

Item 1.

Legal Proceedings

58

 

 

 

Item 1A.

Risk Factors

58

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

60

 

 

 

Item 3.

Defaults Upon Senior Securities

61

 

 

 

Item 4.

Mine Safety Disclosures

61

 

 

 

Item 5.

Other Information

61

 

 

 

Item 6.

Exhibits

62

 

 

SIGNATURES

63

 

 

 

2


 

PART I. FINANCIAL INFORMATION

In this Quarterly Report, “Company”, “we”, “us” and “our” refer to BlackRock Capital Investment Corporation unless the context states otherwise.

Item 1. Consolidated Financial Statements

BlackRock Capital Investment Corporation

Consolidated Statements of Assets and Liabilities

(Unaudited)

 

 

 

June 30,

2020

 

 

December 31,

2019

 

Assets

 

 

 

 

 

 

 

 

Investments at fair value:

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments (cost of $377,024,167 and $389,156,775)

 

$

349,076,281

 

 

$

377,136,394

 

Non-controlled, affiliated investments (cost of $19,960,866 and $65,825,475)

 

 

10,787,073

 

 

 

22,473,524

 

Controlled investments (cost of $401,862,889 and $400,561,551)

 

 

284,423,232

 

 

 

350,249,163

 

Total investments at fair value (cost of $798,847,922 and $855,543,801)

 

 

644,286,586

 

 

 

749,859,081

 

Cash and cash equivalents

 

 

3,087,966

 

 

 

14,678,878

 

Receivable for investments sold

 

 

5,828,007

 

 

 

1,871,435

 

Interest, dividends and fees receivable

 

 

8,111,557

 

 

 

5,708,324

 

Prepaid expenses and other assets

 

 

2,516,649

 

 

 

1,945,709

 

Total Assets

 

$

663,830,765

 

 

$

774,063,427

 

Liabilities

 

 

 

 

 

 

 

 

Debt (net of deferred financing costs of $1,831,742 and $2,298,004)

 

$

319,275,045

 

 

$

313,569,694

 

Interest and credit facility fees payable

 

 

496,576

 

 

 

757,472

 

Distributions payable

 

 

6,813,994

 

 

 

9,637,075

 

Base management fees payable

 

 

2,708,862

 

 

 

3,251,194

 

Incentive management fees payable

 

 

1,849,597

 

 

 

1,849,597

 

Payable for investments purchased

 

 

236,250

 

 

 

7,312,500

 

Accrued administrative services

 

 

375,704

 

 

 

372,407

 

Other accrued expenses and payables

 

 

2,400,691

 

 

 

1,704,507

 

Total Liabilities

 

 

334,156,719

 

 

 

338,454,446

 

Commitments and Contingencies (See Note 9)

 

 

 

 

 

 

 

 

Net Assets

 

 

 

 

 

 

 

 

Common stock, par value $.001 per share, 200,000,000 common shares authorized, 78,151,541 and 77,861,287 issued and 68,139,955 and 68,836,255 outstanding

 

 

78,152

 

 

 

77,861

 

Paid-in capital in excess of par

 

 

849,878,667

 

 

 

849,240,398

 

Distributable earnings (losses)

 

 

(453,985,914

)

 

 

(351,040,023

)

Treasury stock at cost, 10,011,586 and 9,025,032 shares held

 

 

(66,296,859

)

 

 

(62,669,255

)

Total Net Assets

 

 

329,674,046

 

 

 

435,608,981

 

Total Liabilities and Net Assets

 

$

663,830,765

 

 

$

774,063,427

 

Net Asset Value Per Share

 

$

4.84

 

 

$

6.33

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

3


 

BlackRock Capital Investment Corporation

Consolidated Statements of Operations

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

June 30, 2020

 

 

Three Months Ended

June 30, 2019

 

 

Six Months

Ended

June 30, 2020

 

 

Six Months

Ended

June 30, 2019

 

Investment Income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash interest income

 

$

7,600,731

 

 

$

6,813,152

 

 

$

15,722,654

 

 

$

12,755,169

 

PIK interest income

 

 

1,358,694

 

 

 

255,924

 

 

 

2,454,125

 

 

 

496,108

 

Fee income

 

 

17,087

 

 

 

437,339

 

 

 

63,254

 

 

 

912,746

 

Total investment income from non-controlled, non-affiliated investments

 

 

8,976,512

 

 

 

7,506,415

 

 

 

18,240,033

 

 

 

14,164,023

 

Non-controlled, affiliated investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash interest income

 

 

118,000

 

 

 

1,204,631

 

 

 

243,474

 

 

 

2,426,882

 

PIK interest income

 

 

112,958

 

 

 

14,401

 

 

 

221,789

 

 

 

14,401

 

PIK dividend income

 

 

 

 

 

 

 

 

 

 

220,480

 

Fee income

 

 

1,436

 

 

 

 

 

2,871

 

 

 

Total investment income from non-controlled, affiliated investments

 

 

232,394

 

 

 

1,219,032

 

 

 

468,134

 

 

 

2,661,763

 

Controlled investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash interest income

 

 

5,486,595

 

 

 

5,859,065

 

 

 

10,902,430

 

 

 

12,759,803

 

PIK interest income

 

 

180,156

 

 

 

960,266

 

 

 

1,053,664

 

 

 

960,266

 

Cash dividend income

 

 

2,566,148

 

 

 

4,103,165

 

 

 

5,473,651

 

 

 

8,294,868

 

Fee income

 

 

61,153

 

 

 

3,238

 

 

 

64,340

 

 

 

125,100

 

Total investment income from controlled investments

 

 

8,294,052

 

 

 

10,925,734

 

 

 

17,494,085

 

 

 

22,140,037

 

Other income

 

 

 

 

 

5,075

 

 

 

 

 

 

5,075

 

Total investment income

 

 

17,502,958

 

 

 

19,656,256

 

 

 

36,202,252

 

 

 

38,970,898

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Base management fees

 

 

2,708,862

 

 

 

3,020,614

 

 

 

6,004,549

 

 

 

5,943,762

 

Incentive management fees

 

 

1,608,740

 

 

 

2,245,935

 

 

 

3,533,138

 

 

 

4,526,771

 

Interest and credit facility fees

 

 

4,359,441

 

 

 

3,761,328

 

 

 

8,571,715

 

 

 

7,153,762

 

Professional fees

 

 

544,845

 

 

 

495,474

 

 

 

1,069,857

 

 

 

968,517

 

Administrative services

 

 

375,704

 

 

 

337,634

 

 

 

689,265

 

 

 

700,939

 

Director fees

 

 

152,500

 

 

 

175,000

 

 

 

337,250

 

 

 

368,000

 

Investment advisor expenses

 

 

87,500

 

 

 

87,500

 

 

 

175,000

 

 

 

175,000

 

Other

 

 

507,916

 

 

 

549,031

 

 

 

966,439

 

 

 

1,027,059

 

Total expenses, before incentive management fee waiver

 

 

10,345,508

 

 

 

10,672,516

 

 

 

21,347,213

 

 

 

20,863,810

 

Incentive management fee waiver (See Note 3)

 

 

(1,608,740

)

 

 

(2,245,935

)

 

 

(3,533,138

)

 

 

(4,526,771

)

Expenses, net of incentive management fee waiver

 

 

8,736,768

 

 

 

8,426,581

 

 

 

17,814,075

 

 

 

16,337,039

 

Net Investment Income

 

 

8,766,190

 

 

 

11,229,675

 

 

 

18,388,177

 

 

 

22,633,859

 

Realized and Unrealized Gain (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net realized gain (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

(12,316,751

)

 

 

(23,721,329

)

 

 

(12,311,266

)

 

 

(23,395,840

)

Non-controlled, affiliated investments

 

 

(42,238,921

)

 

 

 

 

(43,774,013

)

 

 

(269,226

)

Net realized gain (loss)

 

 

(54,555,672

)

 

 

(23,721,329

)

 

 

(56,085,279

)

 

 

(23,665,066

)

Net change in unrealized appreciation (depreciation) on:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

11,084,426

 

 

 

23,828,458

 

 

 

(15,942,530

)

 

 

21,144,405

 

Non-controlled, affiliated investments

 

 

42,458,272

 

 

 

(13,791,497

)

 

 

34,178,158

 

 

 

(9,230,583

)

Controlled investments

 

 

(35,387,880

)

 

 

(8,277,465

)

 

 

(66,790,209

)

 

 

(3,780,398

)

Foreign currency translation

 

 

239,587

 

 

 

142,737

 

 

 

(337,060

)

 

 

277,067

 

Net change in unrealized appreciation (depreciation)

 

 

18,394,405

 

 

 

1,902,233

 

 

 

(48,891,641

)

 

 

8,410,491

 

Net realized and unrealized gain (loss)

 

 

(36,161,267

)

 

 

(21,819,096

)

 

 

(104,976,920

)

 

 

(15,254,575

)

Net Increase (Decrease) in Net Assets Resulting from Operations

 

$

(27,395,077

)

 

$

(10,589,421

)

 

$

(86,588,743

)

 

$

7,379,284

 

Net Investment Income Per Share—basic

 

$

0.13

 

 

$

0.16

 

 

$

0.27

 

 

$

0.33

 

Earnings (Loss) Per Share—basic

 

$

(0.40

)

 

$

(0.15

)

 

$

(1.27

)

 

$

0.11

 

Average Shares Outstanding—basic

 

 

68,117,628

 

 

 

68,836,255

 

 

 

68,365,792

 

 

 

68,836,930

 

Net Investment Income Per Share—diluted

 

$

0.13

 

 

$

0.16

 

 

$

0.27

 

 

$

0.32

 

Earnings (Loss) Per Share—diluted

 

$

(0.40

)

 

$

(0.15

)

 

$

(1.27

)

 

$

0.11

 

Average Shares Outstanding—diluted (See Note 4)

 

 

85,111,365

 

 

 

85,829,992

 

 

 

85,359,529

 

 

 

85,830,667

 

Distributions Declared Per Share

 

$

0.10

 

 

$

0.18

 

 

$

0.24

 

 

$

0.36

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

4


 

BlackRock Capital Investment Corporation

Consolidated Statements of Changes in Net Assets

(Unaudited)

 

 

 

Six Months Ended

 

 

 

June 30, 2020

 

 

June 30, 2019

 

Net Assets at December 31

 

$

435,608,981

 

 

$

487,020,154

 

Net Increase (Decrease) in Net Assets Resulting from Operations:

 

 

 

 

 

 

 

 

Net investment income

 

 

9,621,987

 

 

 

11,404,181

 

Net realized gain (loss)

 

 

(1,529,607

)

 

 

56,263

 

Net change in unrealized appreciation (depreciation) before taxes

 

 

(67,286,048

)

 

 

6,508,258

 

Net increase (decrease) in net assets resulting from operations

 

 

(59,193,668

)

 

 

17,968,702

 

Distributions to Stockholders from(1):

 

 

 

 

 

 

 

 

Net investment income

 

 

(9,543,152

)

 

 

(12,390,525

)

Capital Share Transactions:

 

 

 

 

 

 

 

 

Purchases of treasury stock

 

 

(3,627,604

)

 

 

(469,227

)

Net increase (decrease) in net assets resulting from capital share transactions

 

 

(3,627,604

)

 

 

(469,227

)

Total Increase (Decrease) in Net Assets

 

 

(72,364,424

)

 

 

5,108,950

 

Net Assets at March 31

 

$

363,244,557

 

 

$

492,129,104

 

 

 

 

 

 

 

 

 

 

Net Increase (Decrease) in Net Assets Resulting from Operations:

 

 

 

 

 

 

 

 

Net investment income

 

 

8,766,190

 

 

 

11,229,675

 

Net realized gain (loss)

 

 

(54,555,672

)

 

 

(23,721,329

)

Net change in unrealized appreciation (depreciation) before taxes

 

 

18,394,405

 

 

 

1,902,233

 

Net increase (decrease) in net assets resulting from operations

 

 

(27,395,077

)

 

 

(10,589,421

)

Distributions to Stockholders from(1):

 

 

 

 

 

 

 

 

Net investment income

 

 

(6,813,994

)

 

 

(12,390,526

)

Capital Share Transactions:

 

 

 

 

 

 

 

 

Share issuance - distribution reinvestment

 

 

638,560

 

 

 

 

Net increase (decrease) in net assets resulting from capital share transactions

 

 

638,560

 

 

 

 

Total Increase (Decrease) in Net Assets

 

 

(33,570,511

)

 

 

(22,979,947

)

Net Assets at June 30

 

$

329,674,046

 

 

$

469,149,157

 

 

 

 

 

 

 

 

 

 

Capital Share Activity:

 

 

 

 

 

 

 

 

Shares issued from reinvestment of distributions

 

 

290,254

 

 

 

 

Purchases of treasury stock

 

 

(986,554

)

 

 

(85,543

)

Net increase (decrease) in shares outstanding

 

 

(696,300

)

 

 

(85,543

)

 

(1)

Sources of distribution to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations.

The accompanying notes are an integral part of these consolidated financial statements.

 

5


 

BlackRock Capital Investment Corporation

Consolidated Statements of Cash Flows

(Unaudited)

 

 

 

Six Months Ended

 

 

 

June 30, 2020

 

 

June 30, 2019

 

Operating Activities:

 

 

 

 

 

 

 

 

Net increase (decrease) in net assets resulting from operations

 

$

(86,588,743

)

 

$

7,379,284

 

Adjustments to reconcile net increase (decrease) in net assets resulting from operations:

 

 

 

 

 

 

 

 

PIK interest, dividends and fees

 

 

(3,729,578

)

 

 

(1,691,255

)

Net amortization on investments

 

 

(405,343

)

 

 

(531,425

)

Amortization of debt issuance costs and discount

 

 

1,660,010

 

 

 

1,208,963

 

Net change in unrealized (appreciation) depreciation on investments

 

 

48,554,581

 

 

 

(8,133,424

)

Net change in unrealized (appreciation) depreciation on foreign currency translation

 

 

337,060

 

 

 

(277,067

)

Net realized (gain) loss on investments

 

 

56,085,279

 

 

 

23,665,066

 

Changes in operating assets:

 

 

 

 

 

 

 

 

Purchase of investments

 

 

(55,184,092

)

 

 

(161,660,813

)

Proceeds from disposition of investments

 

 

59,830,118

 

 

 

101,233,744

 

Change in receivable for investments sold

 

 

(3,956,572

)

 

 

1,473,772

 

Change in interest, dividends and fees receivable

 

 

(2,318,764

)

 

 

(9,242,650

)

Change in prepaid expenses and other assets

 

 

(1,325,601

)

 

 

(144,541

)

Changes in operating liabilities:

 

 

 

 

 

 

 

 

Change in interest and credit facility fees payable

 

 

(260,896

)

 

 

240,769

 

Change in base management fees payable

 

 

(542,331

)

 

 

(503,681

)

Change in payable for investments purchased

 

 

(7,076,250

)

 

 

15,121,870

 

Change in accrued administrative services

 

 

3,297

 

 

 

(38,873

)

Change in other accrued expenses and payables

 

 

696,185

 

 

 

324,117

 

Net cash provided by (used in) operating activities

 

 

5,778,360

 

 

 

(31,576,144

)

Financing Activities:

 

 

 

 

 

 

 

 

Distributions paid in cash

 

 

(18,541,668

)

 

 

(24,942,740

)

Proceeds from debt

 

 

98,000,000

 

 

 

148,000,000

 

Repayments of debt

 

 

(93,200,000

)

 

 

(82,600,000

)

Purchase of treasury stock

 

 

(3,627,604

)

 

 

(469,227

)

Net cash provided by (used in) financing activities

 

 

(17,369,272

)

 

 

39,988,033

 

Net increase (decrease) in cash and cash equivalents

 

 

(11,590,912

)

 

 

8,411,889

 

Cash and cash equivalents, beginning of period

 

 

14,678,878

 

 

 

13,497,320

 

Cash and cash equivalents, end of period

 

$

3,087,966

 

 

$

21,909,209

 

Supplemental disclosure of cash flow information and non-cash financing activities:

 

 

 

 

 

 

 

 

Cash paid during period for:

 

 

 

 

 

 

 

 

Interest

 

$

6,685,050

 

 

$

5,055,489

 

Taxes

 

$

68,050

 

 

$

44,841

 

Share issuance — distribution reinvestment

 

$

638,560

 

 

$

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

6


 

BlackRock Capital Investment Corporation

Consolidated Schedules of Investments

June 30, 2020

(Unaudited)

 

Portfolio Company(r)

 

Industry(t)

 

Interest Rate

 

 

Maturity

 

Principal Amount or Number of

Shares/Units

 

 

Cost(a)

 

 

Fair

Value(b)

 

Senior Secured Notes—0.33%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced Lighting Technologies, LLC, Second Lien(d)(f)(j)(u)

 

Electrical Equipment

 

18.35% (L + 1700, 1.00% Floor PIK)

 

 

10/4/23

 

$

8,922,406

 

 

$

2,181,306

 

 

$

 

AGY Holding Corp., Second Lien(d)(g)(j)(u)

 

Chemicals

 

11.00% PIK

 

 

12/15/25

 

 

26,959,923

 

 

 

24,503,088

 

 

 

 

Calceus Acquisition, Inc., First Lien

 

Specialty Retail

 

9.75%

 

 

2/19/25

 

 

1,000,000

 

 

 

970,012

 

 

 

1,080,000

 

Total Senior Secured Notes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

27,654,406

 

 

 

1,080,000

 

Unsecured Debt—42.35%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CB-HDT Holdings, Inc.(d)(j)

 

Aerospace & Defense

 

12.00% PIK

 

 

3/6/21

 

 

8,934,882

 

 

 

8,934,545

 

 

 

8,934,882

 

Gordon Brothers Finance Company(g)(p)

 

Diversified Financial Services

 

12.00% (L + 1100, 1.00% Floor)

 

 

10/31/21

 

 

130,680,477

 

 

 

130,680,477

 

 

 

130,680,477

 

Total Unsecured Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

139,615,022

 

 

 

139,615,359

 

Subordinated Debt—9.98%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

First Boston Construction Holdings, LLC(d)(g)(k)

 

Thrifts & Mortgage Finance

 

12.00%

 

 

2/23/23

 

 

34,800,000

 

 

 

34,800,000

 

 

 

32,888,436

 

Total Subordinated Debt

 

 

 

 

 

 

 

 

 

 

 

 

 

 

34,800,000

 

 

 

32,888,436

 

Senior Secured Loans—116.17%(e)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advanced Lighting Technologies, LLC, First Lien(f)

 

Electrical Equipment

 

8.85% (L + 750, 1.00% Floor)

 

 

10/4/22

 

 

5,063,006

 

 

 

5,014,400

 

 

 

3,544,105

 

AGY Holding Corp., First Lien(d)(g)(u)

 

Chemicals

 

12.00% PIK

 

 

9/15/20

 

 

27,080,059

 

 

 

26,282,814

 

 

 

11,644,425

 

AGY Holding Corp., First Lien Incremental(d)(g)

 

Chemicals

 

12.00% PIK

 

 

9/15/20

 

 

1,815,222

 

 

 

1,638,284

 

 

 

1,815,222

 

AGY Holding Corp., Delayed Draw Term Loan(d)(g)

 

Chemicals

 

12.00% PIK

 

 

9/15/20

 

 

4,981,670

 

 

 

4,792,092

 

 

 

4,981,670

 

AmeriLife Holdings, LLC, Second Lien

 

Insurance

 

9.50% (L + 850, 1.00% Floor)

 

 

3/18/28

 

 

6,697,322

 

 

 

6,564,472

 

 

 

6,496,402

 

Aretec Group, Inc., Second Lien(s)

 

Diversified Financial Services

 

8.43% (L+ 825)

 

 

10/1/26

 

 

3,563,440

 

 

 

3,523,314

 

 

 

2,883,429

 

Barri Financial Group, LLC, First Lien

 

Consumer Finance

 

8.79% (L + 775, 1.00% Floor)

 

 

10/23/24

 

 

8,585,689

 

 

 

8,396,180

 

 

 

8,371,046

 

Bluefin Holding, LLC, Second Lien

 

Software

 

7.93% (L+ 775)

 

 

9/6/27

 

 

4,809,535

 

 

 

4,742,430

 

 

 

4,713,344

 

Calceus Acquisition, Inc., First Lien

 

Specialty Retail

 

5.74% (L + 550)

 

 

2/12/25

 

 

250,000

 

 

 

236,250

 

 

 

232,500

 

Cambrex Corporation, Second Lien

 

Pharmaceuticals

 

10.00% (L+ 900, 1.00% Floor)

 

 

12/6/27

 

 

11,903,098

 

 

 

11,680,860

 

 

 

11,188,912

 

CareATC, Inc., First Lien

 

Health Care Technology

 

8.25% (L + 725, 1.00% Floor)

 

 

3/14/24

 

 

4,733,036

 

 

 

4,660,912

 

 

 

4,619,443

 

CareATC, Inc., Revolving Term Loan(o)(v)

 

Health Care Technology

 

8.25% (L + 725, 1.00% Floor)

 

 

3/14/24

 

 

 

 

 

(5,203

)

 

 

(8,113

)

Diamondback Acquisition, Inc. et al, First Lien

 

Energy Equipment & Services

 

9.81% (L + 881, 1.00% Floor)

 

 

6/14/22

 

 

13,615,251

 

 

 

13,436,886

 

 

 

13,383,792

 

Dude Solutions Holdings Inc., First Lien

 

Professional Services

 

8.57% (L + 750, 1.00% Floor)

 

 

6/13/25

 

 

9,345,183

 

 

 

9,164,505

 

 

 

9,130,243

 

Dude Solutions Holdings Inc., Revolving Term Loan(v)

 

Professional Services

 

8.57% (L + 750, 1.00% Floor)

 

 

6/13/25

 

 

325,050

 

 

 

302,248