Core Insights - MSC Income Fund, Inc. reported a net investment income of $16.8 million, or $0.38 per share, for the first quarter of 2025, reflecting a 15% increase from the previous year [4][7][8] - The Fund's net asset value as of March 31, 2025, was $718.9 million, or $15.35 per share, showing a slight decrease from the previous quarter [8][28] - The Fund declared a total dividend of $0.36 per share for the first quarter, which includes a regular quarterly dividend of $0.35 and a supplemental dividend of $0.01 [8] Financial Performance - Total investment income for the first quarter of 2025 was $33.2 million, a decrease of 2% from $33.9 million in the same period of 2024 [4][8] - Interest income decreased by 6% to $27.4 million, while dividend income increased by 108% to $5.1 million [4][8] - Total expenses decreased by 15.3% to $16.4 million, primarily due to a reduction in incentive fees and interest expenses [5][8] Operational Highlights - The Fund achieved a return on equity of just under 10% for the quarter [3] - The net increase in net assets resulting from operations was $15.9 million, a 50% increase compared to the first quarter of 2024 [8][10] - The Fund's liquidity as of March 31, 2025, was $163.5 million, including $39.5 million in cash and cash equivalents [12] Investment Portfolio - As of March 31, 2025, the Fund's private loan portfolio had a fair value of $767.8 million, while the lower middle market (LMM) portfolio was valued at $439.7 million [15][18] - The Fund's investment portfolio consisted of approximately 61% private loans, 35% LMM, and 2% middle market investments [18] - The weighted-average annual effective yield for the private loan portfolio was 11.6%, while for the LMM portfolio, it was 13.1% [15][16] Capital Structure - The Fund completed a follow-on equity offering in January 2025, generating net proceeds of $90.5 million, enhancing its liquidity and leverage capacity [13][14] - The Fund's debt-to-equity ratio was 0.79x as of March 31, 2025, reflecting a decline from target leverage levels due to the equity offering [17][18] - The Fund's credit facilities included a Corporate Facility with total commitments of $245 million and a SPV Facility with total commitments of $300 million [17]

Core Viewpoint - PennantPark Investment Corporation reported its financial results for the second quarter ended March 31, 2025, highlighting a decrease in net investment income and net asset value per share, alongside significant portfolio activity and investment performance metrics [1][2][4]. Financial Highlights - Investment portfolio totaled $1,213.6 million with net assets of $488.1 million as of March 31, 2025 [2]. - GAAP net asset value per share was $7.48, reflecting a quarterly change of -1.2% [2]. - Net investment income for the quarter was $11.4 million, or $0.18 per share, down from $14.3 million or $0.22 per share in the same quarter of the previous year [15]. - Total investment income for the quarter was $30.7 million, compared to $36.0 million in the prior year [13]. Portfolio Activity - The company made purchases of investments totaling $176.8 million and sales and repayments of investments amounting to $263.1 million during the quarter [2][6]. - The portfolio consisted of 158 companies with an average investment size of $6.9 million, and a weighted average yield on debt investments of 12.0% [4]. - As of March 31, 2025, the portfolio included 41% first lien secured debt and 29% preferred and common equity [4]. Investment Income and Expenses - Investment income for the three months ended March 31, 2025, was primarily derived from first lien secured debt, totaling $22.1 million [13]. - Total expenses for the quarter were $19.2 million, a decrease from $21.7 million in the same quarter of the previous year [14]. - The decrease in expenses was attributed to lower interest and debt-related expenses [14]. Realized and Unrealized Gains - Net realized losses for the quarter were $(27.7) million, compared to $(31.0) million in the same quarter of the previous year [17]. - The net change in unrealized appreciation on investments was $27.1 million for the quarter [18]. Liquidity and Capital Resources - As of March 31, 2025, the company had $314.5 million in outstanding borrowings under the Truist Credit Facility, with a weighted average interest rate of 6.7% [22]. - Cash and cash equivalents available for investing and corporate purposes were $32.6 million [23]. Distributions - The company declared distributions of $0.24 per share for the quarter, totaling $15.7 million, compared to $0.21 per share in the same quarter of the previous year [27].

MIAMI, May 12, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) announced today its financial results for the second quarter ended March 31, 2025. HIGHLIGHTSQuarter ended March 31, 2025 (Unaudited)($ in millions, except per share amounts) Assets and Liabilities: Investment portfolio (1) $2,344.1 <td style="ver ...

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