BDC Quick Recap: Gladstone Capital Corp. (GLAD)
BDC Quick Recap: Gladstone Capital Corp. (GLAD) as of June 30th, 2023
Gladstone Capital Corp. (GLAD) 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 Gladstone Capital Corp. (GLAD) for the three-month period ended June 30th, 2023.
Portfolio Stats
| FMV | $715.3M |
| # of Investments | 119 |
| Total unused commitments to extend financing | $0.0M |
| Portfolio Companies | 55 |
Source: SOLVE Fixed Income, Gladstone Capital Corp. (GLAD)
Portfolio Composition
| First Lien | 74.80% |
| Second Lien | 16.70% |
| Equity and Other | 8.50% |
Source: SOLVE Fixed Income, Gladstone Capital Corp. (GLAD)
Portfolio Credit Quality
| Non-Accruals Cost | $6.1M |
| # of Non-Accruals | 1 |
| % of Portfolio at Cost | 0.80% |
| New Non-Accruals | N/A |
Source: SOLVE Fixed Income, Gladstone Capital Corp. (GLAD)
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
|---|---|---|---|---|---|
| Technical Resource Management LLC | Secured First Lien Debt-Term Debt | Healthcare, Education, and Childcare | $23.0M | 4/30/2028 | S+800 |
| OCI LLC | Secured First Lien Debt-Term Debt | Diversified/Conglomerate Manufacturing | $20.0M | 5/31/2028 | S+750 |
Source: SOLVE Fixed Income, Gladstone Capital Corp. (GLAD)
Exits and Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
|---|---|---|---|---|---|
| B Riley Financial Inc | Unsecured Debt-Term Debt | Finance | $2.4M | 5/31/2024 |
Source: SOLVE Fixed Income, Gladstone Capital Corp. (GLAD)
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