CLO

Carlyle Secured Lending, Inc. Names Justin Plouffe CEO and Member of the Board of Directors

Retrieved on: 
Monday, March 4, 2024

NEW YORK, March 04, 2024 (GLOBE NEWSWIRE) -- Carlyle Secured Lending, Inc. (“CSL”) (NASDAQ: CGBD) today announced that Justin Plouffe has been named President, Chief Executive Officer (CEO), and member of the Board of Directors, effective immediately.

Key Points: 
  • NEW YORK, March 04, 2024 (GLOBE NEWSWIRE) -- Carlyle Secured Lending, Inc. (“CSL”) (NASDAQ: CGBD) today announced that Justin Plouffe has been named President, Chief Executive Officer (CEO), and member of the Board of Directors, effective immediately.
  • Mr. Plouffe is a Managing Director and the Deputy Chief Investment Officer for Global Credit at Carlyle.
  • He focuses on investing across Carlyle’s credit strategies, capital formation as well as managing the overall Global Credit platform.
  • Linda Pace, Chair of the Board of Directors at Carlyle Secured Lending said, “The Board is delighted that Justin Plouffe is joining CSL as President and CEO.

PennantPark Floating Rate Capital Ltd. Completes CLO, Marking Continued Growth in PennantPark’s CLO Platform

Retrieved on: 
Thursday, February 22, 2024

“The maturity, reinvestment period and pricing of this financing are attractive and are well matched to our asset base.

Key Points: 
  • “The maturity, reinvestment period and pricing of this financing are attractive and are well matched to our asset base.
  • With the closing of CLO VIII, PennantPark now manages approximately $2.5 billion in CLO assets, and we look forward to continued growth with the support of our current and new investors.”
    PFLT will retain all the subordinated notes through a consolidated subsidiary.
  • The reinvestment period for the term debt securitization ends no later than April 2028 and the Debt is scheduled to mature in April 2036.
  • GreensLedge Capital Markets LLC acted as lead placement agent on the CLO transaction.

BIO-key Receives $1.5M Pre-Paid, Two-Year Software Subscription Order for its Biometric Identification Platform

Retrieved on: 
Tuesday, February 20, 2024

The agreement follows continued strong growth in client enrollments by the customer over eight years since its first deployment.

Key Points: 
  • The agreement follows continued strong growth in client enrollments by the customer over eight years since its first deployment.
  • The BIO-key system streamlines and enhances security for the client identification process for over 25 million clients and contemplates approximately 12% annual growth in users over the next year.
  • BIO-key’s enhanced biometric technology automates and streamlines the positive identification of customers at various contact points within its branches.
  • BIO-key’s solution was originally selected following exhaustive testing to confirm both accuracy, scalability and scanner interoperability for security and future growth in enrollment.

OFS Credit Company Announces Financial Results for the First Fiscal Quarter 2024

Retrieved on: 
Friday, March 8, 2024

OFS Credit Company, Inc. (Nasdaq: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced its financial results for the fiscal quarter ended January 31, 2024.

Key Points: 
  • OFS Credit Company, Inc. (Nasdaq: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced its financial results for the fiscal quarter ended January 31, 2024.
  • Net investment income (“NII”) of $4.6 million, or $0.29 per common share, for the fiscal quarter ended January 31, 2024.
  • This compares to NII of $5.3 million, or $0.36 per common share, for the fiscal quarter ended October 31, 2023.
  • Core net investment income (“Core NII”)1 of $7.2 million, or $0.45 per common share, for the fiscal quarter ended January 31, 2024.

Ellington Residential Mortgage REIT Reports Fourth Quarter 2023 Results

Retrieved on: 
Wednesday, March 6, 2024

Ellington Residential Mortgage REIT (NYSE: EARN) ("we", "us," or "our") today reported financial results for the quarter ended December 31, 2023.

Key Points: 
  • Ellington Residential Mortgage REIT (NYSE: EARN) ("we", "us," or "our") today reported financial results for the quarter ended December 31, 2023.
  • Book value of $7.32 per share as of December 31, 2023, which includes the effects of dividends of $0.24 per share for the quarter.
  • Net mortgage assets-to-equity ratio of 6.5:14 as of December 31, 2023.
  • The following table summarizes our portfolio of long investments(1) as of December 31, 2023 and September 30, 2023:

KBRA Assigns Preliminary Ratings to RRE 18 Loan Management DAC

Retrieved on: 
Tuesday, March 5, 2024

KBRA UK (KBRA) assigns preliminary ratings to seven classes of notes and one of loans issued by RRE 18 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans.

Key Points: 
  • KBRA UK (KBRA) assigns preliminary ratings to seven classes of notes and one of loans issued by RRE 18 Loan Management DAC, a cash flow collateralised loan obligation (CLO) backed primarily by a diversified portfolio of Euro-denominated corporate loans.
  • RRE 18 Loan Management DAC is managed by Redding Ridge Asset Management (UK) LLP (“RRAM UK” or the “collateral manager”).
  • The ratings reflect initial credit enhancement levels, coverage tests including par value and interest coverage tests, excess spread, and a reinvestment overcollateralisation test.
  • The collateral in RRE 18 Loan Management DAC will mainly consist of broadly syndicated leveraged loans and bonds issued by corporate obligors diversified across sectors.

Monroe Capital Selected as 2023 Lower Mid-Market Lender of the Year and CLO Manager of the Year by Private Debt Investor

Retrieved on: 
Tuesday, March 5, 2024

Monroe Capital LLC (“Monroe”) was selected as the recipient of two separate Private Debt Investor (“PDI”) awards, including the 2023 Lower Mid-Market Lender of the Year and CLO Manager of the Year (Americas).

Key Points: 
  • Monroe Capital LLC (“Monroe”) was selected as the recipient of two separate Private Debt Investor (“PDI”) awards, including the 2023 Lower Mid-Market Lender of the Year and CLO Manager of the Year (Americas).
  • PDI is published by PEI, the only global B2B information group focused exclusively on private equity, private debt, private real estate, infrastructure and agri investing.
  • The Private Debt Investor Awards are determined annually to recognize the contributions of industry participants in the private debt asset class.
  • Winners were selected by thousands of voters among the private debt, private equity and institutional investor communities.

Eagle Point Institutional Income Fund Reports December 2023 Financial Results, Increases Annualized Distributions to 9.0% and Announces Total Net Annual Return of 12.3%

Retrieved on: 
Tuesday, March 5, 2024

Eagle Point Credit Management LLC (“Eagle Point” or the “Adviser”), a specialist credit asset manager with over $9.1 billion of assets under management,1 announced that Eagle Point Institutional Income Fund (the “Fund”), a non-traded closed-end fund registered under the Investment Company Act of 1940, reported financial results for the year ended December 31, 2023.

Key Points: 
  • Eagle Point Credit Management LLC (“Eagle Point” or the “Adviser”), a specialist credit asset manager with over $9.1 billion of assets under management,1 announced that Eagle Point Institutional Income Fund (the “Fund”), a non-traded closed-end fund registered under the Investment Company Act of 1940, reported financial results for the year ended December 31, 2023.
  • During the year, the Fund paid total distributions of $0.908 per share to shareholders and generated net investment income of $1.40 per share, well in excess of distributions paid during the period.
  • Thomas Majewski, the Fund’s Chairman and Chief Executive Officer, said, “Throughout 2023, Eagle Point Institutional Income Fund delivered consistent distributions to its shareholders while preserving principal value.
  • Please refer to the Fund’s annual report available at www.EPIIF.com for additional information on the Fund’s financial results for the year ended December 31, 2023.

KBRA Releases Monthly CMBS Trend Watch

Retrieved on: 
Monday, March 4, 2024

KBRA releases the February 2024 issue of CMBS Trend Watch.

Key Points: 
  • KBRA releases the February 2024 issue of CMBS Trend Watch.
  • Single-borrower (SB) deal activity experienced a strong uptick in February with six deals priced compared to two last month.
  • U.S. CMBS conduit issuance, which was relatively robust in January with four deals priced, quietened down in February.
  • Private label CMBS issuance totaled $8.8 billion year-to-date (YTD) 2024, more than doubling the $4 billion seen in the first two months of 2023.

Z Capital Credit Partners ("ZCCP") Announces Closing of $331.3 Million BSL CLO

Retrieved on: 
Monday, March 4, 2024

Z Capital Credit Partners, L.L.C.

Key Points: 
  • Z Capital Credit Partners, L.L.C.
  • ("ZCCP"), the credit fund management platform of Z Capital Group, L.L.C.
  • ("ZCG"), today announced the closing of a $331.3 million collateralized loan obligation (“CLO”) managed by its affiliate, Z Capital CLO Management, L.L.C.
  • ("Z Capital CLO Management").