Bain Capital Specialty Finance(US:BCSF)2024-08-06 21:15Investment Performance - Net investment income per share for Q2 2024 was $0.51, with an annualized NII yield on book value of 11.6%[5] - Net income per share for Q2 2024 was $0.45, equating to an annualized return on book value of 10.2%[5] - Total investment income for Q2 2024 was $72.3 million, a decrease from $74.5 million in Q1 2024[13] - Net investment income for Q2 2024 was $33.1 million, or $0.51 per share, compared to $34.0 million, or $0.53 per share, in Q1 2024[13] - Total investment income for the six months ended June 30, 2024, was $146,770, compared to $150,452 for the same period in 2023[24] - Net investment income before taxes for the six months ended June 30, 2024, was $69,242, compared to $72,762 for the same period in 2023[24] - Net increase in net assets resulting from operations for the six months ended June 30, 2024, was $64,185, compared to $58,456 for the same period in 2023[24] Investment Portfolio - Total fair value of investments as of June 30, 2024 was $2,237.5 million, a decrease from $2,406.0 million as of March 31, 2024[2] - Investments on non-accrual declined to 1.2% of the total investment portfolio at amortized cost and 1.0% at fair value as of June 30, 2024[5] - Net investment fundings for Q2 2024 were $(167.0) million, compared to $107.1 million in Q1 2024[8] - BCSF has invested approximately $7.8 billion in aggregate principal amount of debt and equity investments since commencing operations[25] Financial Position - Total assets decreased to $2,414,847 as of June 30, 2024, compared to $2,472,348 as of December 31, 2023[20] - Total liabilities decreased to $1,272,302 as of June 30, 2024, compared to $1,335,882 as of December 31, 2023[20] - Net asset value per share increased to $17.70 as of June 30, 2024, compared to $17.60 as of December 31, 2023[20] - The Company's debt-to-equity and net debt-to-equity ratios as of June 30, 2024 were 1.03x and 0.95x, respectively, compared to 1.19x and 1.09x as of March 31, 2024[16] Credit Facility and Commitments - The Company increased commitments under its Sumitomo Credit Facility to $855.0 million from $665.0 million and extended the maturity date to May 18, 2029[5] Dividends - The Company declared a dividend of $0.42 per share for the third quarter of 2024, payable to stockholders of record as of September 30, 2024[5] Expenses - Interest and debt financing expenses for the six months ended June 30, 2024, were $35,687, compared to $40,009 for the same period in 2023[24] - Base management fee for the six months ended June 30, 2024, was $17,587, compared to $18,026 for the same period in 2023[24] - Incentive fee for the six months ended June 30, 2024, was $17,156, compared to $15,118 for the same period in 2023[24]