Kayne Anderson BDC reports Q3 NII 40c, consensus 40c

“During the second quarter when lending activity declined broadly, we were able to grow our private credit portfolio while maintaining an average spread on new investments of 540bps over SOFR,” said Ken Leonard, Co-Chief Executive Officer. “Our results continue to highlight the strength of our platform’s value lending focus, conservative positioning with a portfolio of 98% first lien loans and health of the portfolio with non-accruals flat quarter over quarter at 1.6% of fair value. Additionally, our net investment income of $0.40 per share covered our regular quarterly dividend for shareholders.”