Followers | 240 |
Posts | 12032 |
Boards Moderated | 2 |
Alias Born | 04/05/2009 |
Tuesday, July 19, 2016 10:01:34 AM
GREENWICH, Conn.--(BUSINESS WIRE)--TICC Capital Corp. (NASDAQ:TICC) (“TICC” or the “Company”) today announced that during the quarter ended June 30, 2016 it exited (through sales and repayments, excluding amortization payments) $59.1 million of 1st and 2nd Lien syndicated corporate loans at an average price of 100.2% of the par value of such loans and an estimated weighted average yield at exit price of 6.89%(1). This was consistent with the Company’s ongoing strategy of rotating its corporate loan portfolio into higher-yielding, less liquid loans that it will hold on a less-levered basis. Also during the same quarter, TICC purchased $36.0 million of 1st and 2nd Lien corporate loans at an average price of 92.6% of the par value of such loans and an estimated weighted average yield at purchase price of 11.60%(1).
That portfolio rotation resulted in a weighted average yield increase of approximately 4.7% on the $36.0 million of reinvested capital. Since the end of the second quarter, TICC has deployed additional capital and continues to believe that its rotation strategy presents the Company with an attractive risk-adjusted opportunity in the current market environment.
(1) The weighted average yield is calculated based on the exit/purchase price of the investments and the interest expected to be received using the stated rate of interest on the date of exit/purchase assuming a 5-year exit (which is based on the Company’s historical investment assumptions) or to maturity, whichever is sooner.
About TICC Capital Corp.
TICC Capital Corp. is a publicly-traded business development company principally engaged in providing capital to established businesses, investing in syndicated bank loans and purchasing debt and equity tranches of collateralized loan obligations.
http://www.businesswire.com/news/home/20160719005907/en/TICC-Update-Loan-Rotation-Strategy-Quarter-2016
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Recent OXSQ News
- Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended December 31, 2023 and Declaration of Distributions on Common Stock for the Months Ending April 30, May 31, and June 30, 2024. • GlobeNewswire Inc. • 03/15/2024 12:00:00 PM
- Oxford Square Capital Corp. Schedules Fourth Quarter 2023 Earnings Release and Conference Call for March 15, 2024 • GlobeNewswire Inc. • 03/12/2024 02:37:20 PM
- Form 25-NSE - Notification filed by national security exchange to report the removal from listing and registration of matured, redeemed or retired securities • Edgar (US Regulatory) • 12/21/2023 09:44:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/21/2023 01:31:39 PM
- Form N-23C-2 - Notice by closed-end investment companies of intent to purchase their own securities • Edgar (US Regulatory) • 11/21/2023 01:30:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/08/2023 09:57:34 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/08/2023 09:55:38 PM
- Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended September 30, 2023 and Declaration of Distributions on Common Stock for the Months Ending January 31, February 29, and March 31, 2024 • GlobeNewswire Inc. • 11/07/2023 01:00:00 PM
- Oxford Square Capital Corp. Schedules Third Quarter 2023 Earnings Release and Conference Call for November 7, 2023 • GlobeNewswire Inc. • 11/02/2023 08:32:17 PM
- Form N-23C-2 - Notice by closed-end investment companies of intent to purchase their own securities • Edgar (US Regulatory) • 10/04/2023 12:31:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/04/2023 12:31:13 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/28/2023 08:05:53 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/23/2023 12:25:50 PM
- Form 424B2 - Prospectus [Rule 424(b)(2)] • Edgar (US Regulatory) • 08/22/2023 08:48:09 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/15/2023 12:30:52 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/11/2023 12:02:43 PM
- Form N-23C-2 - Notice by closed-end investment companies of intent to purchase their own securities • Edgar (US Regulatory) • 08/11/2023 12:00:48 PM
- Oxford Square Capital Corp. Announces Partial Redemption of 6.50% Notes Due 2024 • GlobeNewswire Inc. • 08/11/2023 12:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/10/2023 08:09:43 PM
- Oxford Square Capital Corp. Announces Net Asset Value and Selected Financial Results for the Quarter Ended June 30, 2023 • GlobeNewswire Inc. • 08/10/2023 12:00:00 PM
- Oxford Square Capital Corp. Schedules Second Quarter 2023 Earnings Release and Conference Call for August 10, 2023 • GlobeNewswire Inc. • 08/03/2023 08:37:37 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 07/14/2023 01:10:06 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 07/14/2023 01:06:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/06/2023 07:22:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/06/2023 07:21:00 PM
FEATURED POET and MultiLane Collaborate to Develop High-Speed Pluggable Transceivers for AI Networks • Mar 27, 2024 10:52 AM
Endexx Corporation (EDXC) Leverages Global Market Trends and Legislative Reforms to Spearhead Growth in the Cannabis and Plant-Based Wellness Sectors • EDXC • Mar 27, 2024 3:01 PM
Applied UV, Inc. Announces Pricing of $2.76 Million Registered Direct and Private Placement Priced at the Market Under Nasdaq Rules • AUVI • Mar 27, 2024 2:51 PM
Maybacks Global Entertainment Opens 23 More Stations in Important Major Cities • AHRO • Mar 27, 2024 9:00 AM
NxGen Brands Inc. Forecast to Deliver 140% Growth in Q1 2024 • NXGB • Mar 27, 2024 7:30 AM
Kona Gold Beverages, Inc. Strategic Advancements: Covert LLC Introduces Federally Legal D9 Gummies and Revamps Innovative eCommerce Platform, Propelling Toward $12 Million Annual Revenue Goal • KGKG • Mar 26, 2024 8:30 AM