SLR Investment Corp. Announces Quarter Ended September 30, 2024 Financial Results
SLR Investment Corp. Announces Quarter Ended September 30, 2024 Financial Results
Net Investment Income of $0.45 Per Share;
每股淨投資收入爲0.45美元;
Declared Quarterly Distribution of $0.41 Per Share;
宣佈每股0.41美元的季度分配;
Stable NAV and NII per Share
穩定的NAV和每股NII
NEW YORK, Nov. 06, 2024 (GLOBE NEWSWIRE) -- SLR Investment Corp. (NASDAQ: SLRC) (the "Company", "SLRC", "we", "us", or "our") today reported net investment income ("NII") of $24.3 million, or $0.45 per share, for the third quarter of 2024. On November 6, 2024, the Board declared a quarterly distribution of $0.41 per share payable on December 27, 2024, to holders of record as of December 13, 2024.
紐約,2024年11月06日(環球新聞社)--納斯達克上市公司slr投資公司(NASDAQ: SLRC)(以下簡稱「公司」,「SLRC」,「我們」或「我們」)今天報告2024年第三季度每股2430萬美元的淨投資收入(「NII」),每股爲0.45美元。2024年11月6日,董事會宣佈每股0.41美元的季度分配,將於2024年12月27日支付給截至日期爲2024年12月13日的股東。
As of September 30, 2024, net asset value ("NAV") was $18.20 per share, unchanged from the prior quarter ended June 30, 2024.
截至2024年9月30日,每股淨資產淨值("NAV")爲18.20美元,與截至2024年6月30日的上一季度持平。
"Third quarter NII per share reflected another quarter of stability and ample dividend coverage. SLRC's specialty finance loans continue to be a source of unique and differentiated investments, which was visible in an active quarter of originations in SLRC's asset-based lending strategy, including the acquisition of a factoring business, and contributed to another quarter of growth in the comprehensive investment portfolio," said Michael Gross, Co-CEO. "SLRC's ability to pivot to the most attractive risk-adjusted return investments across its strategies provides several alternatives to take advantage of dynamic market conditions and manage risk. Today we are seeing compelling investments across our asset-based lending strategy."
「第三季度每股NII反映了另一個穩定且充裕股利覆蓋的季度。SLRC的專業金融貸款繼續是獨特和差異化投資的來源,這在SLRC資產基礎貸款策略的活躍季度中可見,包括收購一家保理業務,並有助於投資組合的另一個季度增長,」共同首席執行官Michael Gross表示。「SLRC根據其策略在最具吸引力的風險調整回報投資中能夠調整方向,爲利用動態市場條件和管理風險提供了幾種選擇。今天,我們在資產基礎貸款策略中看到了令人信服的投資。」
"The consistency of NAV per share in 2024 is a testament to SLR's multi-strategy approach to private credit investing, providing resiliency across economic and interest rate cycles from asset classes with significant downside protection," said Bruce Spohler, Co-CEO. "We continue to be encouraged by the overall credit quality of our investment portfolio, which is evidenced by another quarter of NAV stability, no increase in our low level of non-accrual investments, a low level of watch list investments, minimal payment-in-kind income, and broad diversification."
「2024年每股NAV的持續性證明了SLR對私人信貸投資的多策略方法,通過擁有重大下行保護的資產類別,提供跨經濟和利率週期的彈性,」共同首席執行官Bruce Spohler表示。「我們繼續對我們投資組合的整體信用質量感到鼓舞,這得以證明自每股淨資產淨值的穩定性季度延續,我們的非計息資產水平沒有增加,關注名單投資水平較低,最低的收益金付款,並具有廣泛的多元化。」
FINANCIAL HIGHLIGHTS FOR QUARTER ENDED SEPTEMBER 30, 2024:
截至2024年9月30日季度的財務要點:
Investment portfolio fair value: $2.1 billion
Net assets: $992.7 million or $18.20 per share
Leverage: 1.10x net debt-to-equity
投資組合的公允價值爲21億美元
淨資產爲99270萬美元,每股18.20美元
槓桿率:1.10倍淨負債對股東權益
Net investment income: $24.3 million or $0.45 per share
Net realized and unrealized losses: $2.3 million or $0.04 per share
Net increase in net assets from operations: $22.0 million or $0.40 per share
淨投資收入:$2430萬或每股$0.45
淨實現和未實現損失爲230萬美元,每股0.04美元
來自業務的淨資產增加爲2200萬美元,每股0.40美元
COMPREHENSIVE INVESTMENT PORTFOLIO(1) HIGHLIGHTS AND ACTIVITY(2) FOR QUARTER ENDED SEPTEMBER 30, 2024:
2024年9月30日結束的完整投資組合(1)亮點和活動(2):
Portfolio fair value: $3.2 billion
Number of Unique issuers: approximately 850
Investments made during the quarter: $396.6 million
Investments prepaid and sold during the quarter: $328.4 million
投資組合公允價值:$32億
獨立發行人數量:大約850家
本季度進行的投資:$39660萬
本季度預付和出售的投資:$32840萬
(1) The Comprehensive Investment Portfolio for the quarter ended September 30, 2024 is comprised of SLRC's investment portfolio and SLR Credit Solutions' ("SLR-CS") portfolio, SLR Equipment Finance's ("SLR-EF") portfolio, Kingsbridge Holdings, LLC's ("KBH") portfolio, SLR Business Credit's ("SLR-BC") portfolio, SLR Healthcare ABL's ("SLR-HC ABL") portfolio owned by the Company (collectively, the Company's "Commercial Finance Portfolio Companies"), and the senior secured loans held by the SLR Senior Lending Program LLC ("SSLP") attributable to the Company, and excludes the Company's fair value of the equity interests in SSLP and the Commercial Finance Portfolio Companies and also excludes SLRC's loans to KBH and SLR-EF.
(2) Comprehensive Investment Portfolio activity for the quarter ended September 30, 2024, includes investment activity of the Commercial Finance Portfolio Companies and SSLP attributable to the Company.
(1)2024年9月30日結束的完整投資組合包括SLRC的投資組合、SLR信貸解決方案("SLR-CS")投資組合、SLR設備融資("SLR-EF")投資組合、Kingsbridge Holdings, LLC("KBH")投資組合、SLR商業信貸("SLR-BC")投資組合、SLR健康醫療ABL("SLR-HC ABL")由公司擁有的投資組合(統稱爲公司的"商業金融投資組合公司"),以及由SSLR高級貸款計劃有限責任公司("SSLP")持有的公司所屬的頭寸擔保貸款,不包括公司在SSLR和商業金融投資組合公司的股權公允價值,也不包括SLRC對KBH和SLR-EF的貸款。
(2) 截至2024年9月30日結束的第三季度綜合投資組合活動,包括與公司相關的商業融資組合公司和SSLPC的投資活動。
Comprehensive Investment Portfolio
綜合投資組合
Portfolio Activity
在第二季度,公共存儲公司以2200萬美元收購了兩個自存儲設施,面積爲10萬平方英尺。在2024年6月30日之後,PSA收購或正在收購三個自存儲設施,面積爲20英畝。淨可出租面積,成本爲2420萬元。
During the three months ended September 30, 2024, SLRC had Comprehensive Investment Portfolio originations of $396.6 million and repayments of $328.4 million across the Company's four investment strategies:
截至2024年9月30日結束的三個月內,SLRC在公司的四大投資策略上進行了39660萬美元的綜合投資組合起源和32840萬美元的償還:
Asset Class |
Sponsor Finance(1) |
Asset-based Lending(2) |
Equipment Finance(3) |
Life Science Finance |
Total Comprehensive Investment Portfolio Activity |
|||||
Originations | $14.5 | $243.5 | $137.6 | $1.0 | $396.6 | |||||
Repayments / Amortization |
$38.8 | $107.3 | $104.4 | $77.9 | $328.4 | |||||
Net Portfolio Activity |
($24.3) | $136.2 | $33.2 | ($76.9) | $ 68.2 |
資產類別 | 贊助商 專業金融(1) |
基於資產的 貸款(2) |
設備 專業金融(3) |
生命科學 財務 |
總計 綜合投資 投資組合活動 |
|||||
投資組合 | $14.5 | $243.5 | $137.6 | $1.0 | $396.6 | |||||
還款 / 攤銷 |
$38.8 | $107.3 | $104.4 | $77.9 | $328.4 | |||||
淨投資組合 活動 |
($24.3) | $136.2 | $33.2 | ($76.9) | $ 68.2 |
(1) Sponsor Finance refers to cash flow loans to sponsor-owned companies including cash flow loans held in SSLP attributable to the Company.
(2) Includes SLR-CS, SLR-BC and SLR-HC ABL's portfolios, as well as asset-based loans on the Company's balance sheet.
(3) Includes SLR-EF's portfolio and equipment financings on the Company's balance sheet and Kingsbridge Holdings' (KBH) portfolio.
(1) 贊助商金融是指向贊助所有公司提供的現金流貸款,包括歸因於公司的SSLP持有的現金流貸款。
(2)包括SLR-CS、SLR-BC和SLR-HC ABL的投資組合,以及公司資產負債表上的基於資產的貸款。
(3)包括SLR-EF的投資組合和公司資產負債表上的設備融資,以及Kingsbridge Holdings(KBH)的投資組合。
Comprehensive Investment Portfolio Composition
綜合投資組合構成
The Comprehensive Investment Portfolio is diversified across approximately 850 unique issuers, operating in over 109 industries, and resulting in an average exposure of $3.7 million or 0.12% per issuer. As of September 30, 2024, 98.3% of the Company's Comprehensive Investment Portfolio was invested in senior secured loans of which 96.8% was held in first lien senior secured loans. Second lien ABL exposure was 1.2% and second lien cash flow exposure was 0.2% of the Comprehensive Investment Portfolio as of September 30, 2024.
綜合投資組合分散投資於約850家獨特發行人,在109個行業中運營,導致每個發行人的平均曝光爲370萬美元,佔比0.12%。截至2024年9月30日,公司的綜合投資組合中的98.3%投資於優先擔保貸款,其中96.8%持有一級優先擔保貸款。二級抵押資產負債暴露爲1.2%,二級現金流暴露爲0.2%。截至2024年9月30日,
SLRC's Comprehensive Investment Portfolio composition by asset class as of September 30, 2024 was as follows:
截至2024年9月30日,SLRC的綜合投資組合資產類別構成如下:
Comprehensive Investment Portfolio Composition (at fair value) |
Amount |
Weighted Average Asset Yield(5) |
||||
($mm) | % | |||||
Senior Secured Investments Cash Flow Loans (Sponsor Finance)(1) |
$713.6 | 22.4% | 11.1% | |||
Asset-Based Loans(2) | $1,117.8 | 35.0% | 14.4% | |||
Equipment Financings(3) | $1,067.1 | 33.4% | 9.4% | |||
Life Science Loans | $238.7 | 7.5% | 12.6% | |||
Total Senior Secured Investments | $3,137.2 | 98.3% | 11.8% | |||
Equity and Equity-like Securities | $55.3 | 1.7% | ||||
Total Comprehensive Investment Portfolio | $3,192.5 | 100.0% | ||||
Floating Rate Investments(4) | $2,070.8 | 65.4% | ||||
First Lien Senior Secured Loans | $3,091.3 | 96.8% | ||||
Second Lien Senior Secured Asset-Based Loans |
$38.1 | 1.2% | ||||
Second Lien Senior Secured Cash Flow Loans |
$7.8 | 0.2% |
全面投資組合構成 (按公允價值計量) |
金額 | 已授予和預期於2021年1月2日授予股份 平均資產 收益率(5) |
||||
($mm) | % | |||||
Senior Secured Investments 現金流貸款(贊助方融資)(1) |
$713.6 | 22.4% | 11.1% | |||
基於資產的貸款(2) | $1,117.8 | 35.0% | 14.4% | |||
設備融資(3) | $1,067.1 | 33.4% | 9.4% | |||
生命科學貸款 | $238.7 | 7.5% | 12.6% | |||
總保障老年投資 | $3,137.2 | 98.3% | 11.8% | |||
股權和類似股權證券 | $55.3 | 1.7% | ||||
綜合投資組合總額 | $3,192.5 | 100.0% | ||||
浮動利率投資(4) | $2,070.8 | 65.4% | ||||
第一優先權擔保貸款 | $3,091.3 | 96.8% | ||||
次二級抵押貸款 資產抵押貸款 |
$38.1 | 1.2% | ||||
次級抵押優先保障 現金流貸款 |
$7.8 | 0.2% |
(1) Includes cash flow loans held in the SSLP attributable to the Company and excludes the Company's equity investment in SSLP.
(2) Includes SLR-CS, SLR-BC, and SLR-HC ABL's portfolios, as well as asset-based loans on the Company's balance sheet, and excludes the Company's equity investments in each of SLR-CS, SLR-BC, and SLR-HC ABL.
(3) Includes SLR-EF's portfolio and equipment financings on the Company's balance sheet and Kingsbridge Holdings' (KBH) portfolio. Excludes the Company's equity and debt investments in each of SLR-EF and KBH.
(4) Floating rate investments are calculated as a percent of the Company's income-producing Comprehensive Investment Portfolio. The majority of fixed rate loans are associated with SLR-EF and leases held by KBH. Additionally, SLR-EF and KBH seek to match-fund their fixed rate assets with fixed rate liabilities.
(5) The weighted average asset yield for income producing cash flow, asset-based and life science loans on balance sheet is based on a yield to maturity calculation. The weighted average asset yield calculation for Life Science loans includes the amortization of expected exit/success fees. The weighted average yield for on-balance sheet equipment financings is calculated based on the expected average life of the investments. The weighted average asset yield for SLR-CS asset-based loans is an Internal Rate of Return (IRR) calculated using actual cash flows received and the expected terminal value. The weighted average asset yield for SLR-BC and SLR-HC ABL represents total interest and fee income for the three-month period ended on September 30, 2024 against the average portfolio over the same fiscal period, annualized. The weighted average asset yield for SLR-EF represents total interest and fee income for the three-month period ended on September 30, 2024 compared to the portfolio as of September 30, 2024, annualized. The weighted average yield for the KBH equipment leasing portfolio represents the blended yield from the company's 1st lien loan on par value and the annualized dividend yield on the cost basis of the company's equity investment as of September 30, 2024.
(1) 包括SSLp中控股公司持有的現金流貸款,不包括公司在SSLp中的股權投資。
(2) 包括SLR-CS、SLR-BC和SLR-HC ABL的組合,以及公司資產負債表上的基於資產的貸款,不包括公司在SLR-CS、SLR-BC和SLR-HC ABL的股權投資。
(3) 包括SLR-EF的組合和公司資產負債表上的設備融資以及Kingsbridge Holdings(KBH)的組合。不包括公司在SLR-EF和KBH的股權和債務投資。
(4) 浮動利率投資按公司收益產生的綜合投資組合的百分比計算。絕大多數固定利率貸款與SLR-EF以及KBH持有的租賃有關。此外,SLR-EF和KBH試圖將固定利率資產與固定利率負債匹配。
(5) 資產表上產生收入的現金流、基於資產的和生命科學貸款的加權平均資產收益是基於到期收益率計算的。生命科學貸款的加權平均資產收益計算中包括預期退出/成功費用的攤銷。資產負債表上設備融資的加權平均資產收益是根據投資的預期平均壽命計算的。SLR-CS基於資產的貸款的加權平均資產收益是使用實際收到的現金流和預期終值計算的內部收益率(IRR)。SLR-BC和SLR-HC ABL的資產負債的加權平均資產收益代表2024年9月30日結束的三個月週期內的總利息和費用收入相對於同一財政週期內的平均投資組合,年化。SLR-EF的加權平均資產收益代表2024年9月30日結束的三個月週期內的總利息和費用收入,與2024年9月30日的投資組合相比,年化。KBH設備租賃組合的加權平均收益代表公司對名義金額第一等級貸款的混合收益,以及截至2024年9月30日公司股權投資的成本基礎年化股息收益。
SLR INVESTMENT CORP. PORTFOLIO
slr investment corp. 投資組合
Asset Quality
資產質量
As of September 30, 2024, 99.6% of SLRC's portfolio was performing on a fair value basis and 99.4% on a cost basis, with one investment recognized as non-accrual.
截至2024年9月30日,SLRC的資產組合中,99.6%按公允價值基礎計算,99.4%按成本基礎計算,其中一項投資被確認爲非應計。
The Company emphasizes risk control and credit performance. On a quarterly basis, or more frequently if deemed necessary, the Company formally rates each portfolio investment on a scale of one to four, with one representing the least amount of risk.
公司強調風險控制和信用表現。公司每季度定期,或視情況更頻繁地,將每個投資組合投資以一到四的等級劃分,其中一代表風險最小。
As of September 30, 2024, the composition of our investment portfolio, on a risk ratings basis, was as follows:
截至2024年9月30日,根據風險評級,我們投資組合的構成如下:
Internal Investment Rating | Investments at Fair Value ($mm) | % of Total Portfolio | |
1 | $604.6 | 29.2% | |
2 | $1,439.9 | 69.5% | |
3 | $19.7 | 0.9% | |
4 | $7.8 | 0.4% |
內部投資評級 | 公允價值投資(百萬美元) | 佔總投資組合的百分比 | |
1 | $604.6 | 29.2% | |
2 | $1,439.9 | 69.5% | |
3 | $19.7 | 0.9% | |
4 | $7.8 | 0.4% |
Investment Income Contribution by Asset Class
資產類別的投資收入貢獻
Investment Income Contribution by Asset Class(1) ($mm) | |||||
For the Quarter Ended: |
Sponsor Finance |
Asset-based Lending |
Equipment Finance |
Life Science Finance |
Total |
9/30/2024 | $21.4 | $15.4 | $7.8 | $15.2 | $59.8 |
% Contribution | 35.8% | 25.7% | 13.1% | 25.4% | 100.0% |
資產類別的投資收入貢獻(1) ($mm) | |||||
本季度 已結束: |
贊助商 財務 |
基於資產的 借貸。 |
設備 財務 |
生命科學。 財務 |
總計 |
2024年9月30日 | $21.4 | $15.4 | $7.8 | $15.2 | $59.8 |
% 貢獻 | 35.8% | 25.7% | 13.1% | 25.4% | 100.0% |
(1) Investment Income Contribution by Asset Class includes: interest income/fees from Sponsor Finance (cash flow) loans on balance sheet and distributions from SSLP; income/fees from asset-based loans on balance sheet and distributions from SLR-CS, SLR-BC, SLR-HC ABL; income/fees from equipment financings and distributions from SLR-EF and distributions from KBH; and income/fees from life science loans on balance sheet.
(1) 根據資產類別的投資收入貢獻包括:來自贊助融資(現金流)貸款在資產負債表上的利息收入/費用和來自SSLP的分配;資產負債表上來自基於資產的貸款的收入/費用和來自SLR-CS、SLR-BC、SLR-HC ABL的分配;設備融資的收入/費用和來自SLR-EF的分配以及來自KBH的分配;以及來自生命科學貸款在資產負債表上的收入/費用。
SLR Senior Lending Program LLC (SSLP)
slr senior lending program llc (sslp)
As of September 30, 2024, the Company and its 50% partner, Sunstone Senior Credit L.P., had contributed combined equity capital of $95.8 million of a total equity commitment for $100 million to the SSLP. At quarter end, SSLP had total commitments of $218.6 million at par and total funded portfolio investments of $204.1 million at fair value, consisting of floating rate senior secured loans to 37 different borrowers and an average investment of $5.5 million per borrower. This compares to funded portfolio investments of $220.8 million at fair value across 39 different borrowers at June 30, 2024. During the quarter ended September 30, 2024, SSLP invested $4.3 million in 7 portfolio companies and had $21.3 million of investments repaid.
截至2024年9月30日,該公司及其50%合作伙伴Sunstone Senior Credit L.P.已爲SSLP提供了總計10000萬的股本承諾中的9580萬美元的聯合股本。季末,SSLP的總承諾爲21860萬美元,淨值總資產爲20410萬美元,由37家不同的借款人提供浮動利率的高級擔保貸款,平均每家借款人550萬美元。與2024年6月30日的39家不同借款人的淨值總資產爲22080萬美元相比。在截至2024年9月30日的季度,SSLP向7家投資組合公司投資了430萬美元,並償還了2130萬美元的投資。
In Q3 2024, the Company earned income of $1.9 million from its investment in the SSLP, representing an annualized yield of 15.7% on the cost basis of the Company's investment, compared to income of $1.9 million in Q2 2024.
在2024年第三季度,公司從對SSLP的投資中賺取了190萬美元的收入,代表公司投資成本折算爲15.7%的年化收益率,而2024年第二季度的收入爲190萬美元。
SLR Investment Corp.'s Results of Operations for the Quarter Ended September 30, 2024 compared to the Quarter Ended September 30, 2023
房地產投資公司SLR投資公司2024年9月30日季度業績與2023年9月30日季度業績比較
Investment Income
投資收入
SLRC's gross investment income totaled $59.8 million and $59.6 million, respectively, for the three months ended September 30, 2024 and 2023. The year-over-year increase of 0.2% in gross investment income was primarily due to a combination of an increase in other income and the ramp of the SSLP, partially offset by a lower average portfolio balance.
SLRC的總投資收入分別爲2024年和2023年9月30日結束的三個月分別爲5980萬美元和5960萬美元。總投資收入環比增加0.2%,主要是由於其他收入增加和SSLP的增加,部分抵消了較低的平均投資組合餘額。
Expenses
費用
SLRC's net expenses totaled $35.4 million and $36.3 million, respectively, for the three months ended September 30, 2024 and 2023. The year-over-year decrease in expenses of 2.4% was primarily due to lower interest expenses from a decrease in average borrowings.
SLRC的淨支出分別爲2024年和2023年9月30日結束的三個月分別爲3540萬美元和3630萬美元。淨支出同比減少了2.4%,主要是由於平均借款減少導致的利息支出減少。
SLRC's investment adviser agreed to waive incentive fees resulting from income earned due to the accretion of the purchase price discount allocated to investments acquired in the Company's merger with SLR Senior Investment Corp., which closed on April 1, 2022. For the three months ended September 30, 2024 and 2023, $41 thousand and $175 thousand, respectively, of performance-based incentive fees were waived, amounting to a cumulative fee waiver of $2.2 million or $0.04 per share.
SLRC的投資顧問同意放棄因收入增加而產生的激勵費用,這是因爲該公司與SLR Senior Investment Corp. 合併所涉及的投資合併中的折價的稅後收入,在於2022年4月1日關閉的交易。截至2024年9月30日的三個月,已經放棄了4.1萬和17.5萬美元的以業績爲基礎的激勵費用,共計放棄了220萬美元,即每股0.04美元。
Net Investment Income
淨投資收入(「NII」) 94375 96927 102180
SLRC's net investment income totaled $24.3 million and $23.4 million, or $0.45 and $0.43 per average share, respectively, for the fiscal quarters ended September 30, 2024 and 2023.
SLRC的淨投資收入分別爲2430萬美元和2340萬美元,每股平均爲0.45美元和0.43美元,截至2024年和2023年9月30日的財政季度結束時。
Net Realized and Unrealized Gain (Loss)
已實現淨收益和未實現淨損失
Net realized and unrealized gains / (losses) for the fiscal quarters ended September 30, 2024 and 2023 totaled ($2.3 million) and $3.6 million, respectively.
2024年和2023年截至9月30日的財政季度淨實現和未實現收益/(損失)分別爲($230萬)和$360萬。
Net Increase in Net Assets Resulting from Operations
由業務操作導致的淨資產淨增長
For the three months ended September 30, 2024 and 2023, the Company had a net increase in net assets resulting from operations of $22.0 million and $26.9 million, respectively. For the same periods, earnings per average share were $0.40 and $0.49, respectively.
截至2024年和2023年9月30日的三個月內,公司業務操作導致淨資產淨增長分別爲$2200萬和$2690萬。在相同時期,每股平均收益分別爲$0.40和$0.49。
Capital and Liquidity
資本和流動性
Credit Facilities
授信設施
As of September 30, 2024, the Company had $501.8 million drawn on $895 million of total commitments available on revolving credit facilities and $140 million of term loans outstanding. During the quarter, the Company amended its Senior Secured Credit Facility and SUNS SPV Credit Facility agreements, extending maturities and increasing commitments. The Senior Secured Credit Facility increased revolving credit commitments by $35 million to $620 million of commitments, increased the pari pasu term loan by $40 million to $140 million, and extended the maturity to August 2029. The SUNS SPV Credit Facility is comprised of $275 million of revolving credit commitments and matures in August 2028.
截至2024年9月30日,公司在循環信貸額度上提取了50180萬美元,總授信額度爲89500萬美元,還有14000萬美元的貸款未償還。在本季度,公司修改了其高級擔保信貸額和SUNS SPV信貸額協議,延長了到期日並增加了授信額。高級擔保信貸額的循環授信額度增加了3500萬美元,達到了62000萬美元,相應地增加了至1400百萬的相對等期限貸款,並將到期日延長至2029年8月。SUNS SPV信貸額包括27500萬美元的循環信貸額度,並將於2028年8月到期。
Unsecured Debt
不受擔保的債務
As of September 30, 2024, the Company had $470 million of unsecured notes outstanding. At September 30, 2024, 42% of the Company's funded debt was comprised of fixed rate unsecured notes. We expect to opportunistically access the investment-grade debt market to address any near-term maturities.
截至2024年9月30日,公司擁有47000萬美元的未擔保票據未償還。截至2024年9月30日,公司資金負債中42%爲固定利率的未擔保票據。我們計劃在適當時機進入投資級債券市場,以解決任何近期到期的問題。
Leverage
槓桿
As of September 30, 2024, the Company's net debt-to-equity ratio was 1.10x and compares to 1.21x as of September 30, 2023 and the Company's target range of 0.9x to 1.25x.
截至2024年9月30日,公司的淨債務股本比率爲1.10倍,比2023年9月30日的1.21倍,公司的目標區間爲0.9倍至1.25倍。
Available Capital
可用資金
As of September 30, 2024, including anticipated available borrowing capacity at the SSLP and our specialty finance portfolio companies, subject to borrowing base limits, SLRC, SSLP and our specialty finance portfolio companies had over $750 million of available capital in the aggregate.
截至2024年9月30日,包括SSL產品組合和我們的專業金融投資組合公司可預期的可融資能力,受借款基數限制,SLRC、SSL產品組合和我們的專業金融投資組合公司總共擁有超過75000萬美元的可用資本。
Unfunded Commitments
未資助承諾
As of September 30, 2024, excluding commitments to SLR-CS, SLR-BC, SLR-HC ABL and SSLP, over which the Company has discretion to fund, the Company had unfunded commitments of approximately $148.8 million.
截至2024年9月30日,不包括對於slr-cs、slr-bc、slr-hc abl和sslp的承諾,公司有權自主決定是否投資,公司未來約有14880萬美元的未投資承諾。
Subsequent Events
後續事件
Distributions
如果分配是以我們的現有或累積收益和利潤(根據美國聯邦所得稅原則確定)作爲基礎,通過支付所需的方式向非美國持有人作出的,則通常構成用於美國稅務目的的股息並且需繳納30%的代扣稅,或根據適用的所得稅條約規定的更低稅率,但需參照下面關於有效關聯收入、備份代扣和外國帳戶的討論。爲了獲得在所得稅條約下降低代扣稅率,非美國持有人通常必須向其代扣代理提供一個經過適當填寫的美國國稅局 W-8BEN表格(個人情況下)或 IRS表格 W-8BEN-E(實體情況下)或其他適當表格,包括證明非美國持有人享有該條約下福利的認證,以及在某些情況下,提供該非美國持有人的美國納稅人身份標識號碼和/或外國稅收識別號碼。必須在支付股息之前提供這個認證,並且在某些情況下可能需要更新這一認證。對於持有我們普通股作爲合夥企業用於美國聯邦所得稅目的的受益所有人,該受益人的稅務處理方式一般將取決於合夥人的身份、合夥夥方的活動以及判定在合夥人層面上做出的判定。持有我們普通股通過金融機構或代理人代表其持股的非美國持有人會被要求向該代理人提供適當的文檔,然後要求該代理人直接或通過其他中介向適用的代扣代理提供認證。如果非美國持有人有資格獲得在所得稅條約下降低的美國聯邦代扣稅率而沒有及時提交所需認證,則可以通過適時向 IRS 提交適當的退稅要求獲得任何多餘代扣的退款或信貸。非美國持有人應就其在任何適用所得稅條約下享有的權益向其稅務顧問徵詢。
On November 6, 2024, the Board declared a quarterly distribution of $0.41 per share payable on December 27, 2024 to holders of record as of December 13, 2024.
董事會於2024年11月6日宣佈,每股分紅$0.41,將於2024年12月27日支付給截至日期爲2024年12月13日的股東。
Conference Call and Webcast Information
電話會議和網絡直播信息
The Company will host an earnings conference call and audio webcast at 10:00 a.m. (Eastern Time) on Thursday, November 7, 2024. All interested parties may participate in the conference call by dialing (800) 445-7795 approximately 5-10 minutes prior to the call, international callers should dial (203) 518-9856. Participants should reference SLR Investment Corp. and Conference ID: SLRC3Q24. A telephone replay will be available until November 21, 2024 and can be accessed by dialing (800) 839-5490. International callers should dial (402) 220-2550. This conference call will also be broadcast live over the Internet and can be accessed by all interested parties from the Event Calendar within the "Investors" tab of SLR Investment Corp.'s website, . Please register online prior to the start of the call. For those who are not able to listen to the broadcast live, a replay of the webcast will be available soon after the call.
公司將於2024年11月7日星期四上午10:00(東部時間)舉辦業績會議電話和音頻網絡廣播。所有感興趣的方有權在電話會議開始前約5-10分鐘撥打(800)445-7795參與電話會議,國際參與者應撥打(203)518-9856。參與者應提及SLR Investment Corp.及會議ID:SLRC3Q24。電話回放將在2024年11月21日之前提供,可通過撥打(800)839-5490進行訪問。國際參與者應撥打(402)220-2550。此電話會議也將通過互聯網直播,並可供SLR Investment Corp.網站「投資者」選項卡「事件日曆」中的所有感興趣的方訪問,請在電話會議開始前線上註冊。對於那些無法即時收聽直播的人,將很快提供網絡廣播的回放。
Financial Statements and Tables
基本報表和表格
SLR INVESTMENT CORP.
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(in thousands, except share amounts)
slr investment corp.
資產負債表
(數字單位爲千,除股份數量外)
September 30, 2024 |
December 31, 2023 |
||
Assets | |||
Investments at fair value: | |||
Companies less than 5% owned (cost: $1,096,486 and $1,260,205, respectively) | $1,107,241 | $1,271,442 | |
Companies 5% to 25% owned (cost: $102,661 and $60,064, respectively) | 90,259 | 44,250 | |
Companies more than 25% owned (cost: $905,374 and $870,128, respectively) | 874,528 | 839,074 | |
Cash | 22,959 | 11,864 | |
Cash equivalents (cost: $322,674 and $332,290, respectively) | 322,674 | 332,290 | |
Dividends receivable | 12,151 | 11,768 | |
Interest receivable | 10,459 | 11,034 | |
Receivable for investments sold | 1,870 | 1,538 | |
Prepaid expenses and other assets | 771 | 608 | |
Total assets | $2,442,912 | $2,523,868 | |
Liabilities | |||
Debt ($1,111,827 and $1,183,250 face amounts, respectively, reported net of unamortized debt issuance costs of $9,873 and $5,473, respectively) | $1,101,954 | $1,177,777 | |
Payable for investments and cash equivalents purchased | 322,694 | 332,290 | |
Management fee payable | 7,893 | 8,027 | |
Performance-based incentive fee payable | 6,036 | 5,864 | |
Interest payable | 6,303 | 7,535 | |
Administrative services payable | 2,502 | 1,969 | |
Other liabilities and accrued expenses... | 2,845 | 3,767 | |
Total liabilities... | $1,450,227 | $1,537,229 | |
Net Assets | |||
Common stock, par value $0.01 per share, 200,000,000 and 200,000,000 common shares authorized, respectively, and 54,554,634 and 54,554,634 shares issued and outstanding, respectively | $546 | $546 | |
Paid-in capital in excess of par | 1,117,930 | 1,117,930 | |
Accumulated distributable net loss | (125,791) | (131,837) | |
Total net assets | $992,685 | $986,639 | |
Net Asset Value Per Share | $18.20 | $18.09 |
九月 。 |
12月 截至2024年6月30日和2023年12月31日,發行並流通的數量爲79,760股; |
||
資產 | |||
公允價值的投資: | |||
所擁有不到5%股權的公司(成本分別爲$1,096,486和$1,260,205) | $1,107,241 | $1,271,442 | |
公司所擁有的5%至25%股權(成本分別爲$102,661和$60,064) | 90,259 | 44,250 | |
公司所擁有的股權超過25%(成本分別爲$905,374和$870,128) | 874,528 | 839,074 | |
現金 | 22,959 | 11,864 | |
現金等價物(成本分別爲$322,674和$332,290) | 322,674 | 332,290 | |
應收股息 | 12,151 | 11,768 | |
應收利息 | 10,459 | 11,034 | |
已售投資應收賬款 | 1,870 | 1,538 | |
預付款項和其他資產 | 771 | 608 | |
資產總額 | $2,442,912 | $2,523,868 | |
負債 | |||
債務(分別報告面值1,111,827美元和1,183,250美元,減去分別爲9,873美元和5,473美元的未攤銷債務發行成本) | $1,101,954 | $1,177,777 | |
購買投資和現金等價物需支付 | 322,694 | 332,290 | |
管理費用應付款 | 7893 | 8,027 | |
基於績效的激勵費用應付 | 6,036 | 5,864 | |
應付利息 | 6,303 | 7,535 | |
應付行政服務費 | 2,502 | 1969 | |
其他負債和應計費用... | 2,845 | 3,767 | |
Total liabilities... | $1,450,227 | $1,537,229 | |
淨資產 | |||
普通股,每股面值$0.01,分別授權發行2億股和2億股普通股,發行並流通股數分別爲54554634股和54554634股 | $546 | $546 | |
超額繳入股本 | 1,117,930 | 1,117,930 | |
累積可分配淨損失 | (125,791) | (131,837) | |
總淨資產 | $992,685 | $986,639 | |
每股淨資產價值 | $18.20 | $18.09 |
SLR INVESTMENT CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share amounts)
slr investment corp。
綜合損益表
(以千爲單位,除了份額數量)
Three months ended | ||||||
September 30, 2024 |
September 30, 2023 |
|||||
INVESTMENT INCOME: | ||||||
Interest: | ||||||
Companies less than 5% owned | $41,068 | $43,696 | ||||
Companies 5% to 25% owned | 926 | 816 | ||||
Companies more than 25% owned | 3,379 | 2,879 | ||||
Dividends: | ||||||
Companies 5% to 25% owned | 91 | -- | ||||
Companies more than 25% owned | 12,487 | 11,429 | ||||
Other income: | ||||||
Companies less than 5% owned | 1,688 | 735 | ||||
Companies more than 25% owned . | 132 | 86 | ||||
Total investment income | $59,771 | $59,641 | ||||
EXPENSES: | ||||||
Management fees | $7,893 | $8,051 | ||||
Performance-based incentive fees | 6,077 | 5,796 | ||||
Interest and other credit facility expenses | 18,913 | 19,874 | ||||
Administrative services expense | 1,392 | 1,575 | ||||
Other general and administrative expenses | 1,189 | 1,161 | ||||
Total expenses | 35,464 | 36,457 | ||||
Performance-based incentive fees waived | (41) | (175) | ||||
Net expenses | 35,423 | 36,282 | ||||
Net investment income | $24,348 | $23,359 | ||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND CASH EQUIVALENTS: | ||||||
Net realized loss on investments and cash equivalents (companies less than 5% owned) | (2,748) | (30,951) | ||||
Net change in unrealized gain (loss) on investments and cash equivalents: | ||||||
Companies less than 5% owned | (4,027) | 33,439 | ||||
Companies 5% to 25% owned | 3,411 | 1,065 | ||||
Companies more than 25% owned | 1,065 | 35 | ||||
Net change in unrealized gain (loss) on investments and cash equivalents |
||||||
449 | 34,539 | |||||
Net realized and unrealized gain (loss) on investments and cash equivalents |
||||||
(2,299) | 3,588 | |||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS |
||||||
$22,049 | $26,947 | |||||
EARNINGS PER SHARE | $0.40 | $0.49 |
三個月結束 | ||||||
截至2023年9月30日年
度報告 2024 |
September 30, 2023 |
|||||
投資收益: | ||||||
利率期貨: | ||||||
持有不足5%股份的公司 | $41,068 | $43,696 | ||||
公司擁有5%至25%的股份 | 926 | 816 | ||||
公司擁有超過25%的股份 | 3,379 | 2,879 | ||||
分紅派息: | ||||||
公司5%至25%的持股權 | 91 | -- | ||||
公司持股比例超過25% | 12,487 | 11,429 | ||||
其他收入: | ||||||
持有少於5%股權的公司 | 1,688 | 735 | ||||
持有超過25%股權的公司。 | 132 | 86 | ||||
總投資收益 | $59,771 | $59,641 | ||||
運費 | ||||||
管理費用和激勵分配給聯營企業3,554 5,563 8,449 8,560 | $7,893 | $8,051 | ||||
基於業績的激勵費用 | 6,077 | 5,796 | ||||
利率期貨和其他信貸工具費用 | 18,913 | 19,874 | ||||
Administrative services expense | 1,392 | 1,575 | ||||
其他一般和管理費用 | 1,189 | 1,161 | ||||
總支出 | 35,464 | 36,457 | ||||
基於績效的激勵費用已被豁免 | (41) | (175) | ||||
淨支出 | 35,423 | 36,282 | ||||
淨投資收益 | $24,348 | $23,359 | ||||
投資和現金等價物的已實現和未實現收益(損失): | ||||||
投資和現金等價物的淨已實現損失(持有小於5%的公司) | (2,748) | (30,951) | ||||
投資和現金等價物未實現損益的淨變動: | ||||||
持有少於5%股份的公司 | (4,027) | 33,439 | ||||
持有5%至25%股份的公司 | 3,411 | 1,065 | ||||
擁有超過25%股權的公司 | 1,065 | 35 | ||||
投資和現金等價物未實現收益(損失)的淨變動 |
||||||
449 | 34,539 | |||||
投資和現金等價物的淨實現和未實現收益(損失) |
||||||
(2,299) | 3,588 | |||||
運營帶來的淨資產增長 |
||||||
$22,049 | $26,947 | |||||
每股收益 | $0.40 | $0.49 |
About SLR Investment Corp.
關於slr investment corp.
SLR Investment Corp. is a closed-end investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. A specialty finance company with expertise in several niche markets, the Company primarily invests in leveraged, U.S. upper middle market companies in the form of cash flow, asset-based, and life sciences senior secured loans.
slr investment corp.是一家封閉式投資公司,已選擇在1940年投資公司法案下作爲業務發展公司進行監管。作爲一家專業金融公司,專門從事幾個利基市場,該公司主要投資於美國槓桿化的上中市公司,形式包括現金流、基於資產和生命科學的高級擔保貸款。
Forward-Looking Statements
前瞻性聲明
Some of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to: the expected stability of the Company's earnings and distributions to shareholders; the Company's access to deal flow and attractive investment opportunities; the Company's ability to opportunistically access the investment grade debt market; the market environment and its impact on the business prospects of SLRC and the prospects of SLRC's portfolio companies; prospects for additional portfolio growth of SLRC; and the quality of, and the impact on the performance of SLRC from the investments that SLRC has made and expects to make. In addition, words such as "anticipate," "believe," "expect," "seek," "plan," "should," "estimate," "project" and "intend" indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with: (i) changes in the economy, financial markets and political environment, including the impacts of inflation and changing interest rates; (ii) risks associated with possible disruption in the operations of SLRC or the economy generally due to terrorism, war or other geopolitical conflicts, natural disasters, or pandemics; (iii) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); (iv) conditions in SLRC's operating areas, particularly with respect to business development companies or regulated investment companies; and (v) other considerations that may be disclosed from time to time in SLRC's publicly disseminated documents and filings. SLRC has based the forward-looking statements included in this press release on information available to it on the date of this press release, and SLRC assumes no obligation to update any such forward-looking statements. Although SLRC undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that it may make directly to you or through reports that SLRC in the future may file with the Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.
本新聞稿中的部分聲明構成前瞻性聲明,因爲它們涉及未來事件、未來業績或財務狀況。前瞻性聲明可能包括有關公司業績穩定性和向股東分配收益的預期;公司獲得交易流和有吸引力的投資機會的能力;公司機會主義地獲取投資級債務市場的能力;市場環境及其對SLRC業務前景以及SLRC投資組合公司前景的影響;SLRC額外投資組合增長的前景;以及SLRC所做出並預期會做出的投資對SLRC績效質量和影響。此外,「預期」、「相信」、「期望」、「尋求」、「計劃」、「應當」、「估計」、「項目」和「打算」等詞語表明前瞻性聲明,儘管並非所有前瞻性聲明都包含這些詞語。本新聞稿中包含的前瞻性聲明涉及風險和不確定性。某些因素可能導致實際結果和情況與預期有很大不同,包括與以下不確定性有關的風險:(i)經濟、金融市場和政治環境的變化,包括通貨膨脹和利率變化的影響;(ii)可能導致SLRC運營或整體經濟受到恐怖主義、戰爭或其他地緣政治衝突、自然災害或大流行等干擾的風險;(iii)未來法律或法規的變化(包括監管機構對這些法律和法規的解釋);(iv)與SLRC經營區域的條件相關的風險,特別是與商業發展公司或受監管的投資公司有關;以及(v)SLRC可能不時在公開傳播的文件和申報中披露的其他因素。SLRC根據本新聞稿發佈日期可獲得的信息制定了本新聞稿中包含的前瞻性聲明,並且SLRC不承擔更新此類前瞻性聲明的義務。儘管SLRC無義務修訂或更新任何前瞻性聲明,無論是因爲新信息、未來事件或其他原因,建議您查詢其直接向您提供的任何其他披露,或通過SLRC未來可能向美國證券交易委員會提交的報告,包括年度報告第10-k表、季度報告第10-Q表和即時報告第8-k表。
Contact
SLR Investment Corp.
Investor Relations
slrinvestorrelations@slrcp.com | (646) 308-8770
聯繫方式
slr investment corp
投資者關係
slrinvestorrelations@slrcp.com | (646) 308-8770
譯文內容由第三人軟體翻譯。