BDCs
BDC Quick Recap: Prospect Capital (PSEC) as of December 31st, 2022
Prospect Capital (PSEC) filed its earnings Wednesday and data was available in SOLVE’s BDC workstation within minutes. Here is a quick recap of the credit stats for Prospect Capital (PSEC) for the three-month period ended Dec. 31st, 2022.
Portfolio Stats
|
Portfolio Composition | |
First Lien | 56.10% |
Second Lien | 21.10% |
Equity and Other | 22.80% |
Source: SOLVE Fixed Income, Prospect Capital (PSEC)
New Investments Stats
New Volume | $308.0M |
Exits and Sales | $76.7M |
Net New Volume | $231.3M |
Source: SOLVE Fixed Income, Prospect Capital (PSEC)
Portfolio Credit Quality
Non-Accruals Cost | $199.2M |
# of Non-Accruals | 5 |
# of Portfolio at Cost | 2.60% |
New Non-Accruals | Engine Group, K&N Parent |
Source: SOLVE Fixed Income, Prospect Capital (PSEC)
Select New Originations
Company | Investment Type | Industry | Cost | Maturity | Coupon |
NH Kronos Buyer Inc | First Lien Term Loan | Pharmaceuticals | $75.0M | 11/1/2028 | S+660 |
Faraday Buyer LLC | First Lien Term Loan | Electrical Equipment | $64.2M | 10/11/2028 | S+700 |
Forta LLC | Second Lien Term Loan | Software | $52.3M | 11/19/2027 | S+675 |
Dukes Root Control Inc | First Lien Term Loan | Commercial Services & Supplies | $35.7M | 12/8/2028 | S+650 |
Source: SOLVE Fixed Income, Prospect Capital (PSEC)
Exits & Sales
Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
Candle-Lite Company LLC | First Lien Term Loan B | Household Products | $10.9M | 4/30/2023 | L+950 |
Candle-Lite Company LLC | First Lien Term Loan A | Household Products | $9.9M | 4/30/2023 | L+550 |
Targus Cayman HoldCo Limited | Common Stock | Textiles, Apparel & Luxury Goods | $2.8M | – | – |
Source: SOLVE Fixed Income, Prospect Capital (PSEC)
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