UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
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☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2017
OR
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☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
FOR THE TRANSITION PERIOD FROM TO
COMMISSION FILE NUMBER: 814-00891
PENNANTPARK FLOATING RATE CAPITAL LTD.
(Exact name of registrant as specified in its charter)
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MARYLAND |
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27-3794690 |
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(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification No.) |
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590 Madison Avenue, 15th Floor New York, N.Y. |
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10022 |
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(Address of principal executive offices) |
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(Zip Code) |
(212) 905-1000
(Registrant’s Telephone Number, Including Area Code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
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Large accelerated filer |
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☐ |
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Accelerated filer |
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☒ |
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Non-accelerated filer |
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☐ (Do not check if a smaller reporting company) |
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Smaller reporting company |
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☐ |
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Emerging growth company |
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☐ |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
The number of shares of the registrant’s common stock, $0.001 par value per share, outstanding as of August 8, 2017 was 32,480,074.
PENNANTPARK FLOATING RATE CAPITAL LTD.
FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2017
TABLE OF CONTENTS
2
PART I—CONSOLIDATED FINANCIAL INFORMATION
We are filing this Quarterly Report on Form 10-Q, or the Report, in compliance with Rule 13a-13 promulgated by the Securities and Exchange Commission, or the SEC. In this Report, except where the context suggests otherwise, the terms “Company,” “we,” “our” or “us” refer to PennantPark Floating Rate Capital Ltd. and its wholly-owned consolidated subsidiaries; “Funding I” refers to PennantPark Floating Rate Funding I, LLC; “Taxable Subsidiary” refers to PFLT Investment Holdings, LLC; “PSSL” refers to PennantPark Senior Secured Loan Fund I LLC, an unconsolidated joint venture; “PennantPark Investment Advisers” or “Investment Adviser” refers to PennantPark Investment Advisers, LLC; “PennantPark Investment Administration” or “Administrator” refers to PennantPark Investment Administration, LLC; “1940 Act” refers to the Investment Company Act of 1940, as amended; “Code” refers to the Internal Revenue Code of 1986, as amended; “RIC” refers to a regulated investment company under the Code; “BDC” refers to a business development company under the 1940 Act. References to our portfolio, our investments, our multi-currency, senior secured revolving credit facility, as amended and restated, or the Credit Facility, and our business include investments we make through our subsidiaries.
3
Item 1.Consolidated Financial Statements
PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
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June 30, 2017 |
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September 30, 2016 |
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(unaudited) |
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Assets |
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Investments at fair value |
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Non-controlled, non-affiliated investments (cost—$661,580,331 and $597,910,267, respectively) |
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$ |
662,907,256 |
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$ |
598,887,525 |
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Controlled, affiliated investments (cost—$36,000,000 and $0, respectively) |
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36,022,425 |
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— |
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Total of investments (cost—$697,580,331 and $597,910,267, respectively) |
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698,929,681 |
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598,887,525 |
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Cash and cash equivalents (cost—$48,866,893 and $28,903,359, respectively) |
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48,951,746 |
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28,910,973 |
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Interest receivable |
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3,169,817 |
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2,480,406 |
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Receivable for investments sold |
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24,940,277 |
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— |
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Prepaid expenses and other assets |
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1,262,233 |
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1,141,191 |
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Total assets |
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777,253,754 |
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631,420,095 |
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Liabilities |
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Distributions payable |
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3,085,607 |
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2,539,357 |
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Payable for investments purchased |
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18,421,879 |
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14,935,970 |
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Credit Facility payable (cost—$291,209,500 and $232,907,500, respectively) (See Notes 5 and 9) |
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293,663,760 |
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232,389,498 |
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Interest payable on Credit Facility |
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851,952 |
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531,926 |
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Base management fee payable (See Note 3) |
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1,790,695 |
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1,458,625 |
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Performance-based incentive fee payable (See Note 3) |
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3,036,941 |
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3,454,914 |
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Accrued other expenses |
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91,202 |
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202,977 |
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Total liabilities |
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320,942,036 |
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255,513,267 |
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Commitments and contingencies (See Note 10) |
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Net assets |
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Common stock, 32,480,074 and 26,730,074 shares issued and outstanding, respectively Par value $0.001 per share and 100,000,000 shares authorized |
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32,480 |
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26,730 |
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Paid-in capital in excess of par value |
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451,705,066 |
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371,194,366 |
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Undistributed net investment income |
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2,009,837 |
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4,559,646 |
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Accumulated net realized gain (loss) on investments |
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3,584,392 |
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(1,376,788 |
) |
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Net unrealized appreciation on investments |
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1,434,203 |
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984,872 |
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Net unrealized (appreciation) depreciation on Credit Facility |
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(2,454,260 |
) |
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518,002 |
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Total net assets |
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$ |
456,311,718 |
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$ |
375,906,828 |
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Total liabilities and net assets |
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$ |
777,253,754 |
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$ |
631,420,095 |
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Net asset value per share |
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$ |
14.05 |
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$ |
14.06 |
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SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
4
PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
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Three Months Ended June 30, |
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Nine Months Ended June 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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Investment income: |
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From non-controlled, non-affiliated investments: |
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Interest |
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$ |
14,695,276 |
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$ |
10,555,165 |
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$ |
39,564,205 |
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$ |
28,794,610 |
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Other income |
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451,597 |
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226,431 |
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1,434,834 |
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2,005,698 |
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From controlled, affiliated investments: |
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Interest |
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43,962 |
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21,429 |
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43,962 |
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105,502 |
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Total investment income |
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15,190,835 |
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10,803,025 |
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41,043,001 |
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30,905,810 |
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Expenses: |
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Base management fee (See Note 3) |
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1,790,695 |
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1,297,595 |
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5,117,839 |
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3,556,451 |
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Performance-based incentive fee (See Note 3) |
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1,444,896 |
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497,716 |
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3,367,931 |
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1,336,660 |
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Interest and expenses on the Credit Facility (See Note 9) |
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2,398,520 |
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1,276,288 |
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6,197,592 |
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3,338,863 |
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Administrative services expenses (See Note 3) |
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561,250 |
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200,000 |
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1,683,750 |
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600,000 |
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Other general and administrative expenses |
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607,499 |
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701,555 |
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1,322,499 |
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1,985,568 |
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Expenses before provision for taxes and amendment costs |
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6,802,860 |
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3,973,154 |
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17,689,611 |
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10,817,542 |
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Provision for taxes |
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90,000 |
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— |
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205,000 |
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— |
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Credit Facility amendment costs (See Notes 5 and 9) |
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112,736 |
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— |
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112,736 |
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907,722 |
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Total expenses |
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7,005,596 |
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3,973,154 |
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18,007,347 |
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11,725,264 |
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Net investment income |
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8,185,239 |
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6,829,871 |
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23,035,654 |
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19,180,546 |
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Realized and unrealized gain (loss) on investments and Credit Facility: |
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Net realized gain (loss) on investments |
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2,451,169 |
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189,623 |
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4,961,180 |
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(1,974,097 |
) |
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Net change in unrealized appreciation (depreciation) on: |
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Non-controlled, non-affiliated investments |
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625,872 |
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6,082,410 |
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426,906 |
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(136,573 |
) |
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Controlled, affiliated investments |
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22,425 |
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— |
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22,425 |
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— |
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Credit Facility (appreciation) depreciation (See Note 5 and 9) |
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(1,942,856 |
) |
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317,438 |
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(2,972,262 |
) |
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532,521 |
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Net change in unrealized (depreciation) appreciation on investments and Credit Facility |
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(1,294,559 |
) |
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6,399,848 |
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(2,522,931 |
) |
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395,948 |
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Net realized and unrealized gain (loss) from investments and Credit Facility |
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1,156,610 |
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6,589,471 |
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2,438,249 |
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(1,578,149 |
) |
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Net increase in net assets resulting from operations |
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$ |
9,341,849 |
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$ |
13,419,342 |
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$ |
25,473,903 |
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$ |
17,602,397 |
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Net increase in net assets resulting from operations per common share (See Note 6) |
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$ |
0.29 |
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$ |
0.50 |
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$ |
0.86 |
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$ |
0.66 |
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Net investment income per common share |
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$ |
0.25 |
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$ |
0.26 |
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$ |
0.78 |
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$ |
0.72 |
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SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
5
PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
(Unaudited)
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Nine Months Ended June 30, |
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2017 |
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2016 |
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Net increase in net assets from operations: |
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Net investment income |
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$ |
23,035,654 |
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$ |
19,180,546 |
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Net realized gain (loss) on investments |
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4,961,180 |
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(1,974,097 |
) |
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Net change in unrealized appreciation (depreciation) on investments |
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449,331 |
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(136,573 |
) |
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Net change in unrealized (appreciation) depreciation on Credit Facility |
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(2,972,262 |
) |
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532,521 |
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Net increase in net assets resulting from operations |
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25,473,903 |
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17,602,397 |
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Distributions to stockholders |
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(25,585,463 |
) |
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(22,854,213 |
) |
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Capital transactions |
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Public offering (See Note 1) |
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80,986,450 |
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— |
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Offering costs |
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(470,000 |
) |
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— |
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Net increase in net assets resulting from capital transactions |
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80,516,450 |
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— |
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Net increase (decrease) in net assets |
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80,404,890 |
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(5,251,816 |
) |
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Net assets: |
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Beginning of period |
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375,906,828 |
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372,890,449 |
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End of period |
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$ |
456,311,718 |
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$ |
367,638,633 |
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Undistributed net investment income, end of period |
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$ |
2,009,837 |
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$ |
3,317,806 |
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Capital share activity: |
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Shares issued from public offering |
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5,750,000 |
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— |
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SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
6
PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
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Nine Months Ended June 30, |
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2017 |
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2016 |
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Cash flows from operating activities: |
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Net increase in net assets resulting from operations |
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$ |
25,473,903 |
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$ |
17,602,397 |
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Adjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities: |
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Net change in unrealized (appreciation) depreciation on investments |
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(449,331 |
) |
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136,573 |
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Net change in unrealized appreciation (depreciation) on Credit Facility |
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2,972,262 |
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(532,521 |
) |
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Net realized (gain) loss on investments |
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(4,961,180 |
) |
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1,974,097 |
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Net accretion of discount and amortization of premium |
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(1,375,901 |
) |
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(1,263,787 |
) |
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Purchases of investments |
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(407,800,909 |
) |
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(257,653,704 |
) |
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Payment-in-kind interest |
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(389,796 |
) |
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(92,262 |
) |
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Proceeds from dispositions of investments |
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314,807,488 |
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97,092,286 |
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Increase in interest receivable |
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(689,411 |
) |
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(1,242,098 |
) |
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Increase in receivable for investments sold |
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(24,940,277 |
) |
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— |
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Increase in prepaid expenses and other assets |
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(121,042 |
) |
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(272,729 |
) |
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Increase in payable for investments purchased |
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3,485,909 |
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|
466,411 |
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Increase in interest payable on Credit Facility |
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|
320,026 |
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|
224,266 |
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Increase in base management fee payable |
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|
332,070 |
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|
341,481 |
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(Decrease) increase in performance-based incentive fee payable |
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(417,973 |
) |
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|
494,780 |
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Decrease in accrued other expenses |
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|
(111,775 |
) |
|
|
(485,995 |
) |
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Net cash used in operating activities |
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(93,865,937 |
) |
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(143,210,805 |
) |
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Cash flows from financing activities: |
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|
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|
|
|
|
Public offering |
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|
80,986,450 |
|
|
|
— |
|
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Offering costs |
|
|
(470,000 |
) |
|
|
— |
|
|
Distributions paid to stockholders |
|
|
(25,039,213 |
) |
|
|
(22,854,213 |
) |
|
Borrowings under Credit Facility (See Notes 5 and 9) |
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|
259,802,000 |
|
|
|
196,807,500 |
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Repayments under Credit Facility (See Notes 5 and 9) |
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(201,500,000 |
) |
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|
(35,500,000 |
) |
|
Net cash provided by financing activities |
|
|
113,779,237 |
|
|
|
138,453,287 |
|
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Net increase (decrease) in cash equivalents |
|
|
19,913,300 |
|
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|
(4,757,518 |
) |
|
Effect of exchange rate changes on cash |
|
|
127,473 |
|
|
|
119,406 |
|
|
Cash and cash equivalents, beginning of period |
|
|
28,910,973 |
|
|
|
21,428,514 |
|
|
Cash and cash equivalents, end of period |
|
$ |
48,951,746 |
|
|
$ |
16,790,402 |
|
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Supplemental disclosure of cash flow information: |
|
|
|
|
|
|
|
|
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Interest paid |
|
$ |
5,990,302 |
|
|
$ |
3,114,597 |
|
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Taxes paid |
|
$ |
256,575 |
|
|
$ |
308,795 |
|
|
Non-cash exchanges and conversions |
|
$ |
35,659,395 |
|
|
$ |
4,547,934 |
|
SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
7
PENNANTPARK FLOATING RATE CAPITAL LTD. AND SUBSIDIARIES
CONSOLIDATED SCHEDULE OF INVESTMENTS
JUNE 30, 2017
(Unaudited)
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Issuer Name |
|
Maturity |
|
Industry |
|
Current Coupon |
|
|
Basis Point Spread Above Index (1) |
|
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Par / Shares |
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|
Cost |
|
|
Fair Value (2) |
|
|||||
|
Investments in Non-Controlled, Non-Affiliated Portfolio Companies—145.3% (3), (4) |
|
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|
|
|
|
|
|
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|
|
|
|
|
|
|
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|
||||
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First Lien Secured Debt—134.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advanced Cable Communications, LLC |
|
08/09/2021 |
|
Telecommunications |
|
|
7.05 |
% |
|
L+575 |
|
|
|
14,406,250 |
|
|
$ |
14,197,102 |
|
|
$ |
14,406,250 |
|
|
|
Advanced Cable Communications, LLC (8), (9) |
|
08/09/2021 |
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
2,000,000 |
|
|
|
— |
|
|
|
— |
|
|
Alera Group Holdings, Inc. |
|
12/30/2022 |
|
Banking, Finance, Insurance and Real Estate |
|
|
6.56 |
% |
|
L+550 |
|
|
|
9,024,755 |
|
|
|
8,943,194 |
|
|
|
9,024,755 |
|
|
|
Alera Group Holdings, Inc. (Revolver) (8) |
|
12/30/2021 |
|
Banking, Finance, Insurance and Real Estate |
|
|
6.58 |
% |
|
L+550 |
|
|
|
287,190 |
|
|
|
287,190 |
|
|
|
287,190 |
|
|
|
Alera Group Holdings, Inc. (Revolver) (8), (9) |
|
12/30/2021 |
|
Banking, Finance, Insurance and Real Estate |
|
|
— |
|
|
|
— |
|
|
|
1,484,772 |
|
|
|
— |
|
|
|
— |
|
|
Alera Group Holdings, Inc. (8), (9) |
|
12/30/2022 |
|
Banking, Finance, Insurance and Real Estate |
|
|
— |
|
|
|
— |
|
|
|
3,159,000 |
|
|
|
— |
|
|
|
— |
|
|
American Auto Auction Group, LLC |
|
11/30/2021 |
|
Transportation: Consumer |
|
|
6.31 |
% |
|
L+525 |
|
|
|
10,972,500 |
|
|
|
10,825,676 |
|
|
|
10,807,912 |
|
|
|
American Gilsonite Company (8) |
|
12/31/2021 |
|
Metals and Mining |
|
|
15.00 |
% |
|
|
— |
|
|
|
131,472 |
|
|
|
127,767 |
|
|
|
138,046 |
|
|
|
|
|
|
|
|
|
(PIK 5.00 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Scaffold |
|
03/31/2022 |
|
Aerospace and Defense |
|
|
7.80 |
% |
|
L+650 |
|
|
|
4,812,500 |
|
|
|
4,750,646 |
|
|
|
4,764,375 |
|
|
|
American Teleconferencing Services, Ltd. |
|
12/08/2021 |
|
Telecommunications |
|
|
7.72 |
% |
|
L+650 |
|
|
|
6,727,462 |
|
|
|
6,538,725 |
|
|
|
6,689,654 |
|
|
|
AMF Bowling Centers, Inc. |
|
09/19/2023 |
|
Retail |
|
|
8.25 |
% |
|
P+400 |
|
|
|
14,887,500 |
|
|
|
14,752,431 |
|
|
|
14,906,109 |
|
|
|
Anesthesia Consulting & Management, LP |
|
10/31/2022 |
|
Healthcare and Pharmaceuticals |
|
|
6.55 |
% |
|
L+500 |
|
|
|
3,980,000 |
|
|
|
3,943,523 |
|
|
|
3,940,200 |
|
|
|
Anesthesia Consulting & Management, LP (8), (9) |
|
10/31/2022 |
|
Healthcare and Pharmaceuticals |
|
|
— |
|
|
|
— |
|
|
|
1,000,000 |
|
|
|
— |
|
|
|
— |
|
|
API Technologies Corp. |
|
04/22/2022 |
|
Aerospace and Defense |
|
|
7.80 |
% |
|
L+650 |
|
|
|
4,912,594 |
|
|
|
4,830,790 |
|
|
|
4,838,906 |
|
|
|
BEI Precision Systems & Space Company, Inc. |
|
04/28/2023 |
|
Aerospace and Defense |
|
|
8.75 |
% |
|
P+450 |
|
|
|
12,000,000 |
|
|
|
11,880,199 |
|
|
|
11,880,000 |
|
|
|
Broder Bros., Co., Tranche A |
|
06/03/2021 |
|
Consumer Goods: Non-Durable |
|
|
7.05 |
% |
|
L+575 |
|
|
|
2,254,494 |
|
|
|
2,220,630 |
|
|
|
2,260,130 |
|
|
|
Broder Bros., Co., Tranche B |
|
06/03/2021 |
|
Consumer Goods: Non-Durable |
|
|
13.55 |
% |
|
L+1,225 |
|
|
|
2,336,329 |
|
|
|
2,299,729 |
|
|
|
2,342,170 |
|
|
|
By Light Professional IT Services, LLC |
|
05/16/2022 |
|
High Tech Industries |
|
|
8.43 |
% |
|
L+725 |
|
|
|
15,697,300 |
|
|
|
15,312,666 |
|
|
|
15,540,326 |
|
|
|
By Light Professional IT Services, LLC (Revolver) (8), (9) |
|
05/16/2022 |
|
High Tech Industries |
|
|
— |
|
|
|
— |
|
|
|
2,311,784 |
|
|
|
— |
|
|
|
— |
|
|
Camin Cargo Control, Inc. |
|
06/30/2021 |
|
Transportation: Cargo |
|
|
6.05 |
% |
|
L+475 |
|
|
|
2,450,000 |
|
|
|
2,432,577 |
|
|
|
2,352,000 |
|
|
|
Canyon Valor Companies, Inc. |
|
06/16/2023 |
|
Media: Broadcasting and Subscription |
|
|
7.23 |
% |
|
L+600 |
|
|
|
7,425,005 |
|
|
|
7,163,802 |
|
|
|
7,459,828 |
|
|
|
Cardenas Markets LLC |
|
11/29/2023 |
|
Beverage, Food and Tobacco |
|
|
7.05 |
% |
|
L+575 |
|
|
|
11,442,500 |
|
|
|
11,381,737 |
|
|
|
11,399,591 |
|
|
|
CD&R TZ Purchaser, Inc. |
|
07/21/2023 |
|
Consumer Goods: Durable |
|
|
7.30 |
% |
|
L+600 |
|
|
|
12,406,250 |
|
|
|
12,116,179 |
|
|
|
12,406,250 |
|
|
|
Charming Charlie LLC |
|
12/24/2019 |
|
Retail |
|
|
9.29 |
% |
|
L+800 |
|
|
|
3,948,750 |
|
|
|
3,919,170 |
|
|
|
3,356,438 |
|
|
|
Chicken Soup for the Soul Publishing, LLC |
|
01/08/2019 |
|
Media: Advertising, Printing and Publishing |
|
|
7.50 |
% |
|
L+625 |
|
|
|
4,614,286 |
|
|
|
4,595,942 |
|
|
|
4,498,929 |
|
|
|
Clarus Glassboards LLC |
|
03/16/2023 |
|
Construction and Building |
|
|
6.48 |
% |
|
L+525 |
|
|
|
5,735,000 |
|
|
|
5,679,513 |
|
|
|
5,706,325 |
|
|
|
Corfin Industries LLC |
|
11/25/2020 |
|
Aerospace and Defense |
|
|
10.80 |
% |
|
L+975 |
|
|
|
6,024,894 |
|
|
|
5,936,004 |
|
|
|
5,949,583 |
|
|
|
Corfin Industries LLC (Revolver) (8), (9) |
|
11/25/2020 |
|
Aerospace and Defense |
|
|
— |
|
|
|
— |
|
|
|
518,033 |
|
|
|
— |
|
|
|
— |
|
|
Country Fresh Holdings, LLC |
|
03/31/2023 |
|
Beverage, Food and Tobacco |
|
|
6.73 |
% |
|
L+550 |
|
|
|
15,128,500 |
|
|
|
14,922,941 |
|
|
|
14,981,879 |
|
|
|
DBI Holding, LLC |
|
08/02/2021 |
|
Business Services |
|
|
6.48 |
% |
|
L+525 |
|
|
|
9,925,050 |
|
|
|
9,837,782 |
|
|
|
9,925,050 |
|
|
|
DCS Business Services, Inc. |
|
06/19/2018 |
|
Business Services |
|
|
11.75 |
% |
|
L+1,025 |
|
|
|
1,666,810 |
|
|
|
1,659,754 |
|
|
|
1,550,133 |
|
|
|
|
|
|
|
|
|
|
(PIK 3.00 |
%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Digital Room LLC |
|
11/21/2022 |
|
Media: Advertising, Printing and Publishing |
|
|
7.23 |
% |
|
L+600 |
|
|
|
6,825,000 |
|
|
|
6,699,323 |
|
|
|
6,756,750 |
|
|
|
DISA Global Solutions, Inc. |
|
12/09/2020 |
|
Business Services |
|
|
5.40 |
% |
|
L+450 |
|
|
|
4,744,586 |
|
|
|
4,715,661 |
|
|
|
4,720,863 |
|
|
|
Douglas Products and Packaging Company LLC |
|
06/30/2020 |
|
Chemicals, Plastics and Rubber |
|
|
6.05 |
% |
|
L+475 |
|
|
|
4,373,643 |
|
|
|
4,352,789 |
|
|
|
4,373,643 |
|
|
|
Driven Performance Brands, Inc. (8) |
|
09/10/2020 |
|
Consumer Goods: Durable |
|
|
5.88 |
% |
|
L+475 |
|
|
|
7,849,271 |
|
|
|
7,821,185 |
|
|
|
7,849,271 |
|
|
|
Driven Performance Brands, Inc. (Revolver) (8), (9) |
|
09/10/2020 |
|
Consumer Goods: Durable |
|
|
— |
|
|
|
— |
|
|
|
1,000,000 |
|
|
|
— |
|
|
|
— |
|
|
East Valley Tourist Development Authority |
|
03/07/2022 |
|
Hotel, Gaming and Leisure |
|
|
9.30 |
% |
|
L+800 |
|
|
|
16,957,500 |
|
|
|
16,728,634 |
|
|
|
16,787,925 |
|
|
|
Education Networks of America, Inc. |
|
05/06/2021 |
|
Telecommunications |
|
|
8.30 |
% |
|
L+700 |
|
|
|
7,657,615 |
|
|
|
7,625,631 |
|
|
|
7,619,327 |
|
|
|
Education Networks of America, Inc. (Revolver) (8), (9) |
|
05/06/2021 |
|
Telecommunications |
|
|
— |
|
|
|
— |
|
|
|
1,304,348 |
|
|
|
— |
|
|
|
— |
|
|
Efficient Collaborative Retail Marketing Company, LLC |
|
06/15/2022 |
|
Media: Diversified and Production |
|
|
8.05 |
% |
|
L+675 |
|
|
|
10,548,335 |
|
|
|
10,457,509 |
|
|
|
10,548,335 |
|
|
|
Hollander Sleep Products, LLC |
|
06/09/2023 |
|
Consumer Goods: Non-Durable |
|
|
9.10 |
% |
|
L+800 |
|
|
|
12,500,000 |
|
|
|
12,251,111 |
|
|
|
12,250,000 |
|
|
|
Hunter Defense Technologies, Inc. (8) |
|
08/05/2019 |
|
Aerospace and Defense |
|
|
7.16 |
% |
|
L+600 |
|
|
|
5,862,500 |
|
|
|
5,841,452 |
|
|
|
5,386,172 |
|
|
|
Icynene U.S. Acquisition Corp. (6), (10) |
|
11/04/2020 |
|
Construction and Building |
|
|
7.42 |
% |
|
L+625 |
|
|
|
5,936,032 |
|
|
|
5,863,862 |
|
|
|
5,757,950 |
|
|
|
iEnergizer Limited and Aptara, Inc. (6), (10) |
|
05/01/2019 |
|
Business Services |
|
|
7.25 |
% |
|
L+600 |
|
|
|
7,387,547 |
|
|
|
7,345,801 |
|
|
|
|||