Quarterly ResultMay 13, 2026, 04:28 PM
Investcorp Credit Management BDC Q1 NAV $3.65; Net Assets Down 14.07%
AI Summary
Investcorp Credit Management BDC, Inc. announced its financial results for the fiscal quarter ended March 31, 2026. The company reported a decrease in Net Asset Value (NAV) per share to $3.65, down from $4.25, and a 14.07% decrease in net assets. Strategic actions included refinancing existing notes, repaying $14.0 million of its credit facility, and reducing the Capital One revolving credit facility commitment from $100 million to $50 million. The investment adviser also waived $456 thousand in management fees to support liquidity.
Key Highlights
- Net Asset Value (NAV) decreased $0.60 per share to $3.65 as of March 31, 2026.
- Net assets decreased by $8.6 million, or 14.07%, during the quarter.
- Refinanced 4.875% Notes with new unsecured notes (SOFR + 5.5%) maturing July 1, 2029.
- Repaid $14.0 million of the Capital One revolving credit facility.
- Reduced Capital One revolving credit facility commitment from $100 million to $50 million.
- Investment adviser waived $456 thousand of management fees for the quarter.
- Weighted average yield on debt investments was 11.95% as of March 31, 2026.
- Net investment income before taxes was $0.3 million, or $0.02 per share.
Price Impact
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