Investcorp Credit Management BDC Reports Financial Results for Fiscal Quarter Ended March 31, 2025

Strategic Insights -

Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB) announced its financial results for the fiscal quarter ended March 31, 2025, marking a significant milestone for the company. The Company reported a distribution of $0.12 per share for the quarter, payable in cash on May 16, 2025, to stockholders of record as of April 25, 2025.

During the quarter, ICMB made investments in one new portfolio company and two existing portfolio companies, totaling $5.1(4) million at cost. The weighted average yield (at origination) of debt investments made in the quarter was 10.22%. The Company received proceeds of $7.3 million from repayments, sales, and amortization, primarily related to the realization of Victra Holdings, LLC Term Loan B and Flatworld Intermediate Corporation Term Loan. ICMB's net asset value increased $0.03 per share to $5.42, compared to $5.39 as of December 31, 2024.

Key Takeaways:

  • ICMB made investments in one new portfolio company and two existing portfolio companies, totaling $5.1(4) million at cost, with a weighted average yield of 10.22%.
  • The Company received proceeds of $7.3 million from repayments, sales, and amortization during the quarter.
  • ICMB's net asset value increased $0.03 per share to $5.42, compared to $5.39 as of December 31, 2024.
  • The distribution of $0.12 per share for the quarter represents a 14.95% yield on the Company's $3.21 share price as of market close on March 31, 2025.
  • ICMB's debt portfolio comprises 98.18% floating rate investments and 1.82% fixed rate investments.
  • As of March 31, 2025, the Company had $13.0 million in cash, of which $10.7 million was restricted cash, and $44.0 million of unused and available capacity under its revolving credit facility with Capital One, N.A.
  • The Company's investment adviser monitors available taxable earnings, including net investment income and realized capital gains, to determine if a return of capital may occur for the year.

Statistics:

  • Net investment income before taxes: $684,585
  • Net investment income after taxes: $603,526
  • Net increase in net assets resulting from operations: $2,206,292
  • Basic and diluted earnings per share: $0.15
  • Weighted average shares of common stock outstanding: 14,412,994
  • Distributions paid per common share: $0.12

Sources:

  • Investcorp Credit Management BDC, Inc. (NASDAQ: ICMB)
  • Consolidated Statements of Assets and Liabilities (March 31, 2025, Unaudited)
  • Consolidated Statements of Operations (For the three months ended March 31, 2025)