Deployment into New Investments
The company deployed almost $200 million into new investments with a weighted average effective yield of 16.9%, indicating active portfolio management and optimization.
Strong Asset Coverage Ratios
Asset coverage ratios for preferred stock and debt were 239% and 529% respectively, both above statutory requirements, showcasing financial stability.
CLO Market Activity
CLO market saw $53 billion of volume during the quarter, with reset and refinancing activity at $69 billion and $36 billion respectively, indicating a proactive approach in optimizing the portfolio.
New Capital Raising
Issued $26 million of common stock and $13 million of 7% series double a and b convertible perpetual preferred stock at a premium to NAV, providing a competitive cost of capital.