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

FMV $7.77B
# of Investments 210
Portfolio Companies 129

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)

Interested in learning more about SOLVE’s BDC data? Email sales@solvefixedincome.com, or Request a Trial to learn more.

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