Oaktree Specialty Lending (US:OCSL)2022-02-03 18:13Financial Performance - Net Asset Value (NAV) per share increased to $7.34, a 1% increase from $7.28 as of September 30, 2021, and a 7% increase from $6.85 as of December 31, 2020[5] - Adjusted Net Investment Income (NII) per share was $0.17, up 7% from $0.16 per share for the quarter ended September 30, 2021, and up 24% from $0.14 per share for the quarter ended December 31, 2020[5] - A cash distribution of $0.16 per share was declared, a 3% increase from the prior quarter and 33% from one year ago[5] Investment Portfolio - The investment portfolio had a fair value of $2.6 billion, diversified across 140 portfolio companies[5] - The weighted average yield on debt investments was 8.7%, unchanged from September 30, 2021[5] - 87% of the portfolio is in senior secured debt investments[8] - No investments were on non-accrual status[5] Investment Activity - $300 million of new investment commitments were made, with a weighted average yield of 8.1% on new debt investments[5] - $241 million of new investment fundings occurred[5] - $235 million of proceeds were received from prepayments, exits, other paydowns, and sales, with a weighted average yield of 7.5%[5] Capital Structure & Liquidity - The total debt to equity ratio was 0.98x, compared with 0.97x as of September 30, 2021[5] - The net debt to equity ratio was 0.95x, unchanged from September 30, 2021[5] - The company had $44 million of cash and $550 million of undrawn capacity on credit facilities[5] Strategic Joint Ventures - OCSL's investments in the Kemper JV totaled $135 million, representing 5.2% of the portfolio[41, 42] - OCSL's investments in the Glick JV totaled $56 million, representing 2.2% of the portfolio[44, 45]