BDC Quick Recap: Prospect Capital (PSEC)
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)
Interested in learning more about SOLVE’s BDC data? Email sales@solvefixedincome.com, or Request a Trial to learn more.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
