Steady Increase in Transaction Activity
The company is encouraged by a steady increase in transaction activity, which is expected to translate into higher loan origination volumes in the coming quarters.
Strong Portfolio Performance
The credit quality of the portfolio continues to perform well with 4 nonaccrual investments representing only 1.3% of the portfolio at cost and 0.1% at market value.
Significant Spillover Income
The company has $48 million or $0.73 per share of undistributed spillover income, which can cover shortfalls in net investment income versus the dividend.
High Yield on Investments
The weighted average yield on debt investments was 11%, and the JV portfolio had an average NII yield of 17%.