MergerNov 11, 2026, 06:09 PM
BCP Investment Corp. to Acquire Investcorp Credit Management BDC, Inc.
AI Summary
BCP Investment Corp. announced its third quarter 2026 financial results and a significant development: it has entered into a merger agreement to acquire Investcorp Credit Management BDC, Inc. for 90% of ICMB's Closing Net Asset Value. The transaction is expected to be accretive to shareholders. The company reported a decrease in Net Investment Income to $4.6 million ($0.37 per share) and a decline in Net Asset Value to $162.7 million ($13.13 per share) for the quarter. Despite these financial shifts, non-accrual investments decreased to 2.8% of the portfolio. BCP also declared monthly distributions for the first quarter of 2027 and updated its credit facility and debt structure.
Key Highlights
- BCP Investment Corp. to acquire Investcorp Credit Management BDC, Inc. at 90% of ICMB's Closing NAV.
- Third quarter 2026 Net Investment Income (NII) was $4.6 million ($0.37 per share), down from $5.5 million ($0.45 per share) in Q2 2026.
- Net Asset Value (NAV) as of September 30, 2026, was $162.7 million ($13.13 per share), down from $179.5 million ($14.49 per share) as of June 30, 2026.
- Non-accrual debt investments decreased to 10, representing 2.8% of the portfolio at fair value.
- Declared monthly base distributions of $0.09 per share for January, February, and March 2027.
- Amended KeyBank Credit Facility, increasing capacity to $150 million and reducing borrowing spread.
- Issued $10.0 million of 7.50% notes due 2029 and redeemed $10.0 million of 2026 Notes.
Price Impact
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