bkcc-10q_20220331.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 March 31, 2022

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 April 29, 2022 was 73,741,477.

 

 

 


 

 

BLACKROCK CAPITAL INVESTMENT CORPORATION

FORM 10-Q

FOR THE THREE MONTHS ENDED MARCH 31, 2022

Table of Contents

 

 

INDEX

PAGE NO.

 

 

 

PART I.

FINANCIAL INFORMATION

 

 

 

 

Item 1.

CONSOLIDATED FINANCIAL STATEMENTS

3

 

 

 

 

Consolidated Statements of Assets and Liabilities as of March 31, 2022 (unaudited) and December 31, 2021

3

 

 

 

 

Consolidated Statements of Operations for the three months ended March 31, 2022 (unaudited) and March 31, 2021 (unaudited)

4

 

 

 

 

Consolidated Statements of Changes in Net Assets for the three months ended March 31, 2022 (unaudited) and March 31, 2021 (unaudited)

5

 

 

 

 

Consolidated Statements of Cash Flows for the three months ended March 31, 2022 (unaudited) and March 31, 2021 (unaudited)

6

 

 

 

 

Consolidated Schedules of Investments as of March 31, 2022 (unaudited) and December 31, 2021

7

 

 

 

 

Notes to Consolidated Financial Statements (unaudited)

22

 

 

 

Item 2.

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

40

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

49

 

 

 

Item 4.

Controls and Procedures

49

 

 

 

PART II.

OTHER INFORMATION

 

 

 

 

Item 1.

Legal Proceedings

50

 

 

 

Item 1A.

Risk Factors

50

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

51

 

 

 

Item 3.

Defaults Upon Senior Securities

51

 

 

 

Item 4.

Mine Safety Disclosures

51

 

 

 

Item 5.

Other Information

51

 

 

 

Item 6.

Exhibits

52

 

 

SIGNATURES

53

 

 

 

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  

 

 

 

March 31,

2022

 

 

December 31,

2021

 

 

 

(Unaudited)

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Investments at fair value:

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments (cost of $487,539,706 and $520,501,274)

 

$

491,006,357

 

 

$

526,504,945

 

Non-controlled, affiliated investments (cost of $4,974,043 and $5,027,616)

 

 

4,660,863

 

 

 

4,131,978

 

Controlled investments (cost of $89,097,765 and $89,097,765)

 

 

22,083,000

 

 

 

21,927,071

 

Total investments at fair value (cost of $581,611,514 and $614,626,655)

 

 

517,750,220

 

 

 

552,563,994

 

Cash and cash equivalents

 

 

10,588,855

 

 

 

12,750,121

 

Interest, dividends and fees receivable

 

 

2,837,619

 

 

 

3,671,722

 

Deferred debt issuance costs

 

 

1,398,905

 

 

 

1,511,418

 

Receivable for investments sold

 

 

83,157

 

 

 

690,550

 

Prepaid expenses and other assets

 

 

607,910

 

 

 

788,469

 

Total assets

 

$

533,266,666

 

 

$

571,976,274

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Debt (net of deferred issuance costs of $194,703 and $425,272)

 

$

171,555,297

 

 

$

196,875,330

 

Distributions payable

 

 

7,380,270

 

 

 

7,392,972

 

Interest and debt related payables

 

 

2,371,204

 

 

 

601,379

 

Management fees payable

 

 

2,059,864

 

 

 

2,122,519

 

Income incentive fees payable (see Note 3)

 

 

19,013

 

 

 

170,002

 

Accrued capital gains incentive fees (see Note 3)

 

 

1,073,068

 

 

 

1,544,569

 

Accrued administrative expenses

 

 

365,507

 

 

 

384,225

 

Payable for investments purchased

 

 

21,196

 

 

 

11,679,798

 

Accrued expenses and other liabilities

 

 

1,516,805

 

 

 

1,553,507

 

Total liabilities

 

 

186,362,224

 

 

 

222,324,301

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies (see Note 9)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net assets

 

 

 

 

 

 

 

 

Common stock, par value $.001 per share, 200,000,000 common shares authorized, 84,478,251 and 84,478,251 issued and 73,770,679 and 73,876,987 outstanding

 

 

84,478

 

 

 

84,478

 

Paid-in capital in excess of par

 

 

848,022,547

 

 

 

852,360,178

 

Distributable earnings (losses)

 

 

(432,272,960

)

 

 

(434,303,297

)

Treasury stock at cost, 10,707,572 and 10,601,264 shares held

 

 

(68,929,623

)

 

 

(68,489,386

)

Total net assets

 

 

346,904,442

 

 

 

349,651,973

 

Total liabilities and net assets

 

$

533,266,666

 

 

$

571,976,274

 

 

 

 

 

 

 

 

 

 

Net assets per share

 

$

4.70

 

 

$

4.73

 

 

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

 

 

 

 

March 31, 2022

 

 

March 31, 2021

 

 

Investment income

 

 

 

 

 

 

 

 

 

Interest income (excluding PIK):

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

$

11,606,903

 

 

$

8,049,250

 

 

Non-controlled, affiliated investments

 

 

 

 

 

11,867

 

 

Controlled investments

 

 

 

 

 

583,200

 

 

PIK interest income:

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

123,018

 

 

 

780,679

 

 

Non-controlled, affiliated investments

 

 

115,896

 

 

 

119,029

 

 

Dividend income (excluding PIK):

 

 

 

 

 

 

 

 

 

Non-controlled, affiliated investments

 

 

 

 

 

71,500

 

 

Controlled investments

 

 

 

 

 

511,067

 

 

PIK dividend income:

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

75,882

 

 

 

 

 

Other income:

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

260,588

 

 

 

146,032

 

 

Total investment income

 

 

12,182,287

 

 

 

10,272,624

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

Interest and other debt expenses

 

 

2,728,951

 

 

 

2,753,096

 

 

Management fees

 

 

2,059,864

 

 

 

1,799,766

 

 

Incentive fees on income

 

 

19,013

 

 

 

 

 

Incentive fees on capital gains(1)

 

 

(471,501

)

 

 

 

 

Administrative expenses

 

 

365,507

 

 

 

322,115

 

 

Professional fees

 

 

302,857

 

 

 

412,159

 

 

Insurance expense

 

 

199,758

 

 

 

199,364

 

 

Director fees

 

 

153,125

 

 

 

153,125

 

 

Investment advisor expenses

 

 

25,819

 

 

 

87,500

 

 

Other operating expenses

 

 

303,799

 

 

 

355,282

 

 

Total expenses, before incentive fee waiver

 

 

5,687,192

 

 

 

6,082,407

 

 

Incentive fee waiver (see Note 3)

 

 

 

 

 

 

 

Total expenses, net of incentive fee waiver

 

 

5,687,192

 

 

 

6,082,407

 

 

 

 

 

 

 

 

 

 

 

 

Net investment income(1)

 

 

6,495,095

 

 

 

4,190,217

 

 

 

 

 

 

 

 

 

 

 

 

Realized and unrealized gain (loss) on investments and foreign currency

 

 

 

 

 

 

 

 

 

Net realized gain (loss):

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

825,913

 

 

 

(646,274

)

 

Non-controlled, affiliated investments

 

 

 

 

 

(7,989,591

)

 

Controlled investments

 

 

 

 

 

(2,290,143

)

 

Net realized gain (loss)

 

 

825,913

 

 

 

(10,926,008

)

 

Net change in unrealized appreciation (depreciation):

 

 

 

 

 

 

 

 

 

Non-controlled, non-affiliated investments

 

 

(2,537,021

)

 

 

9,868,556

 

 

Non-controlled, affiliated investments

 

 

582,458

 

 

 

6,834,973

 

 

Controlled investments

 

 

155,929

 

 

 

6,137,248

 

 

Foreign currency translation

 

 

 

 

 

96,019

 

 

Net change in unrealized appreciation (depreciation)

 

 

(1,798,634

)

 

 

22,936,796

 

 

Net realized and unrealized gain (loss)

 

 

(972,721

)

 

 

12,010,788

 

 

 

 

 

 

 

 

 

 

 

 

Net increase (decrease) in net assets resulting from operations

 

$

5,522,374

 

 

$

16,201,005

 

 

 

 

 

 

 

 

 

 

 

 

Net investment income per share—basic(1)

 

$

0.09

 

 

$

0.06

 

 

Earnings (loss) per share—basic(1)

 

$

0.07

 

 

$

0.22

 

 

Weighted average shares outstanding—basic

 

 

73,822,190

 

 

 

74,436,429

 

 

Net investment income per share—diluted(1)

 

$

0.09

 

 

$

0.06

 

 

Earnings (loss) per share—diluted(1)

 

$

0.07

 

 

$

0.20

 

 

Weighted average shares outstanding—diluted (see Note 8)

 

 

90,815,927

 

 

 

91,430,166

 

 

 

 

(1)

Net investment income and per share amounts displayed above are net of the reversal for incentive fees on capital gains which is reflected on a hypothetical liquidation basis in accordance with GAAP for the three month period ended March 31, 2022 (see Note 3).

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)

 

 

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares Outstanding

 

 

Par Amount, Shares Issued

 

 

Paid in Capital

in Excess of Par

 

 

Distributable

earnings (loss)

 

 

Treasury Stock at Cost

 

 

Total Net

Assets

 

Balance at December 31, 2021

 

 

73,876,987

 

 

$

84,478

 

 

$

852,360,178

 

 

$

(434,303,297

)

 

$

(68,489,386

)

 

$

349,651,973

 

Cumulative effect of adjustment for the adoption of ASU 2020-06(1)

 

 

 

 

 

 

(4,337,631

)

 

 

3,888,233

 

 

 

 

 

(449,398

)

Repurchase of common stock

 

 

(106,308

)

 

 

 

 

 

 

 

 

(440,237

)

 

 

(440,237

)

Net investment income

 

 

 

 

 

 

 

 

6,495,095

 

 

 

 

 

6,495,095

 

Net realized and unrealized gain (loss)

 

 

 

 

 

 

 

 

(972,721

)

 

 

 

 

(972,721

)

Distributions to common stockholders(2)

 

 

 

 

 

 

 

 

(7,380,270

)

 

 

 

 

(7,380,270

)

Balance at March 31, 2022

 

 

73,770,679

 

 

$

84,478

 

 

$

848,022,547

 

 

$

(432,272,960

)

 

$

(68,929,623

)

 

$

346,904,442

 

 

 

 

 

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares Outstanding

 

 

Par Amount, Shares Issued

 

 

Paid in Capital

in Excess of Par

 

 

Distributable

earnings (loss)

 

 

Treasury Stock at Cost

 

 

Total Net

Assets

 

Balance at December 31, 2020

 

 

74,466,665

 

 

$

84,478

 

 

$

858,079,713

 

 

$

(476,857,055

)

 

$

(66,296,859

)

 

$

315,010,277

 

Repurchase of common stock

 

 

(256,062

)

 

 

 

 

 

 

 

 

(869,726

)

 

 

(869,726

)

Net investment income

 

 

 

 

 

 

 

 

4,190,217

 

 

 

 

 

4,190,217

 

Net realized and unrealized gain (loss)

 

 

 

 

 

 

 

 

12,010,788

 

 

 

 

 

12,010,788

 

Distributions to common stockholders(2)

 

 

 

 

 

 

 

 

(7,441,594

)

 

 

 

 

(7,441,594

)

Balance at March 31, 2021

 

 

74,210,603

 

 

$

84,478

 

 

$

858,079,713

 

 

$

(468,097,644

)

 

$

(67,166,585

)

 

$

322,899,962

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

See Notes 2 and 4 for further information related to the adoption of ASU 2020-06.

 

(2)

Sources of distribution to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2). For the three months ended March 31, 2022, it is estimated that $885,175 out of the total $7,380,270 distribution was from a return of capital based on book income.

 

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

5


 

 

BlackRock Capital Investment Corporation

Consolidated Statements of Cash Flows

(Unaudited)

 

 

 

Three Months Ended

 

 

 

March 31, 2022

 

 

March 31, 2021

 

Operating activities

 

 

 

 

 

 

 

 

Net increase (decrease) in net assets resulting from operations

 

$

5,522,374

 

 

$

16,201,005

 

Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:

 

 

 

 

 

 

 

 

Net realized (gain) loss

 

 

(825,913

)

 

 

10,926,008

 

Change in unrealized (appreciation) depreciation of investments

 

 

1,798,634

 

 

 

(22,840,777

)

Change in unrealized (appreciation) depreciation on foreign currency translation

 

 

 

 

 

(96,019

)

Interest and dividend income paid in kind

 

 

(314,796

)

 

 

(899,708

)

Net amortization of investment discounts and premiums

 

 

(800,203

)

 

 

(390,583

)

Amortization of deferred debt issuance costs

 

 

343,082

 

 

 

370,152

 

Amortization of original issue discount on debt

 

 

 

 

 

231,690

 

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Purchase of investments

 

 

(43,688,548

)

 

 

(53,898,523

)

Proceeds from disposition of investments

 

 

78,654,133

 

 

 

87,967,775

 

Decrease (increase) in interest, dividends and fees receivable

 

 

824,571

 

 

 

129,822

 

Decrease (increase) in receivable for investments sold

 

 

607,393

 

 

 

(9,111,440

)

Decrease (increase) in prepaid expenses and other assets

 

 

180,559

 

 

 

36,452

 

Increase (decrease) in payable for investments purchased

 

 

(11,658,602

)

 

 

(5,919,924

)

Increase (decrease) in interest and debt related payables

 

 

1,769,825

 

 

 

1,891,482

 

Increase (decrease) in management fees payable

 

 

(62,655

)

 

 

(513,681

)

Increase (decrease) in income incentive fees payable

 

 

(150,989

)

 

 

 

Increase (decrease) in accrued capital gains incentive fees

 

 

(471,501

)

 

 

 

Increase (decrease) in accrued administrative expenses

 

 

(18,718

)

 

 

(66,949

)

Increase (decrease) in accrued expenses and other liabilities

 

 

(36,703

)

 

 

(620,770

)

Net cash provided by (used in) operating activities

 

 

31,671,943

 

 

 

23,396,012

 

 

 

 

 

 

 

 

 

 

Financing activities

 

 

 

 

 

 

 

 

Draws on credit facility

 

 

37,000,000

 

 

 

3,000,000

 

Repayments of credit facility draws

 

 

(63,000,000

)

 

 

(41,800,000

)

Distributions paid to common stockholders

 

 

(7,392,972

)

 

 

Repurchase of common shares

 

 

(440,237

)

 

 

(869,726

)

Net cash provided by (used in) financing activities

 

 

(33,833,209

)

 

 

(39,669,726

)

 

 

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

 

(2,161,266

)

 

 

(16,273,714

)

Cash and cash equivalents at beginning of period

 

 

12,750,121

 

 

 

23,332,831

 

Cash and cash equivalents at end of period

 

$

10,588,855

 

 

$

7,059,117

 

 

 

 

 

 

 

 

 

 

Supplemental cash flow information

 

 

 

 

 

 

 

 

Interest payments

 

$

381,717

 

 

$

57,432

 

Tax payments

 

$

20,464

 

 

$

20,050

 

 

 

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

6


 

 

BlackRock Capital Investment Corporation

Consolidated Schedules of Investments

March 31, 2022

(Unaudited)

 

Issuer(O/Q)

 

Instrument

 

Ref(E)

 

Floor

 

 

Spread

 

 

Total Coupon

 

 

Maturity

 

Principal

 

 

Cost(A)

 

 

Fair

Value(B)

 

 

Notes

Debt Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Aerospace & Defense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unanet, Inc.

 

First Lien Term Loan

 

LIBOR(M)

 

 

 

 

 

6.25

%

 

 

6.75

%

 

5/31/2024

 

$

6,632,653

 

 

$

6,602,606

 

 

$

6,632,653

 

 

 

Unanet, Inc.

 

First Lien Delayed Draw Term Loan

 

LIBOR(M)

 

 

 

 

 

6.25

%

 

 

6.75

%

 

5/31/2024

 

$

1,709,184

 

 

 

1,704,969

 

 

 

1,709,184

 

 

 

Unanet, Inc.

 

First Lien Revolver

 

LIBOR(M)

 

 

 

 

 

6.25

%

 

 

6.75

%

 

5/31/2024

 

$

816,327

 

 

 

812,641

 

 

 

816,327

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,120,216

 

 

 

9,158,164

 

 

 

Automobiles

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ALCV Purchaser, Inc. (AutoLenders)

 

First Lien Term Loan

 

LIBOR(Q)

 

 

1.00

%

 

 

6.75

%

 

 

7.75

%

 

4/15/2026

 

$

2,601,076

 

 

 

2,568,965

 

 

 

2,601,076

 

 

 

ALCV Purchaser, Inc. (AutoLenders)

 

First Lien Revolver

 

LIBOR(Q)

 

 

1.00

%

 

 

6.75

%

 

 

7.75

%

 

4/15/2026

 

$

 

 

 

(2,823

)

 

 

 

 

N/S

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,566,142

 

 

 

2,601,076

 

 

 

Building Products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Porcelain Acquisition Corporation (Paramount)

 

First Lien Term Loan

 

LIBOR(Q)

 

 

1.00

%

 

 

5.75

%

 

 

6.76

%

 

4/30/2027

 

$

2,190,962

 

 

 

2,152,515

 

 

 

2,208,490

 

 

 

Porcelain Acquisition Corporation (Paramount)

 

First Lien Delayed Draw Term Loan

 

LIBOR(Q)

 

 

1.00

%

 

 

5.75

%

 

 

6.76

%

 

4/30/2027

 

$

340,588

 

 

 

324,538

 

 

 

348,157

 

 

S

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,477,053

 

 

 

2,556,647

 

 

 

Capital Markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pico Quantitative Trading, LLC

 

First Lien Term Loan (1.0% Exit Fee)

 

LIBOR(S)

 

 

1.50

%

 

 

7.25

%

 

 

8.75

%

 

2/7/2025

 

$

500,000

 

 

 

486,201

 

 

 

505,000

 

 

 

Pico Quantitative Trading, LLC

 

First Lien Incremental Term Loan

 

LIBOR(S)

 

 

1.50

%

 

 

7.25

%

 

 

8.75

%

 

2/7/2025

 

$

560,228

 

 

 

534,313

 

 

 

560,228

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,020,514

 

 

 

1,065,228

 

 

 

Commercial Services & Supplies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kellermeyer Bergensons Services, LLC

 

First Lien Term Loan

 

LIBOR(S)

 

 

1.00

%

 

 

6.00

%

 

 

7.00

%

 

11/7/2026

 

$

1,597,222

 

 

 

1,587,297

 

 

 

1,571,667

 

 

 

Kellermeyer Bergensons Services, LLC

 

First Lien Delayed Draw Term Loan A

 

LIBOR(S)

 

 

1.00

%

 

 

6.00

%

 

 

7.00

%

 

11/7/2026

 

$

351,405

 

 

 

349,091

 

 

 

345,782

 

 

 

Kellermeyer Bergensons Services, LLC

 

First Lien Delayed Draw Term Loan B

 

LIBOR(Q)

 

 

1.00

%

 

 

6.00

%

 

 

7.00

%

 

11/7/2026

 

$

486,614

 

 

 

483,492