BDCs
BDC Quick Recap: Audax Credit BDC Inc. as of December 31st, 2022
Audax Credit BDC Inc. filed its earnings yesterday and data was available in SOLVE’s BDC workstation within minutes. Here is a quick recap of the credit stats for Audax Credit BDC Inc. for the three-month period ended Dec. 31st, 2022.
Portfolio Stats
| FMV | $420.8M |
| # of Investments | 286 |
| Total unused commitments to extend financing | $24.26M |
| Portfolio Companies | 222 |
Portfolio Composition
| First Lien | 73.50% |
| Second Lien | 6.00% |
| Equity and Other | 20.50% |
Source: SOLVE Fixed Income, Audax Credit BDC Inc.
Portfolio Credit Quality
| Non-Accruals Cost | 0 |
| # of Non-Accruals | 0 |
| # of Portfolio at Cost | 0.00% |
| New Non-Accruals | N/A |
Source: SOLVE Fixed Income, Audax Credit BDC Inc.
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
| InterMed | Unitranche Initial Term Loan | Healthcare & Pharmaceuticals | $2.9M | 12/24/2029 | S+650 |
| Industrial Services Group | Unitranche First Lien Term Loan | Services: Business | $2.7M | 12/7/2028 | S+625 |
Source: SOLVE Fixed Income, Audax Credit BDC Inc.
Exits & Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
| Cast & Crew | Senior Secured Initial Term Loan-First Lien | Media: Diversified & Production | $2.9M | 2/9/2026 | L+350 |
| Packaging Coordinators | Senior Secured Term B Loan-First Lien | Containers, Packaging & Glass | $2.4M | 11/30/2027 | L+375 |
| Weld North | Senior Secured 2021 Term Loan | Services: Consumer | $2.4M | 12/21/2027 | L+375 |
Source: SOLVE Fixed Income, Audax Credit BDC Inc.
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