UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
|
☑ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. |
For the quarterly period ended March 31, 2022
OR
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. |
For the transition period from to
Commission file number 814-00712
BLACKROCK CAPITAL INVESTMENT CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
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Delaware |
20-2725151 |
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(State or Other Jurisdiction of Incorporation or Organization) |
(I.R.S. Employer Identification No.) |
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40 East 52nd Street, New York, NY |
10022 |
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(Address of Principal Executive Offices) |
(Zip Code) |
Registrant’s Telephone Number, Including Area Code: 212-810-5800
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☐ No ☐
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ Accelerated filer ☐ Non-Accelerated filer ☑
Smaller reporting company ☐ Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class |
Trading symbol(s) |
Name of each exchange on which registered |
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Common Stock, $0.001 par value |
BKCC |
NASDAQ Global Select Market |
The number of shares of the Registrant’s common stock, $.001 par value per share, outstanding at April 29, 2022 was 73,741,477.
BLACKROCK CAPITAL INVESTMENT CORPORATION
FORM 10-Q
FOR THE THREE MONTHS ENDED MARCH 31, 2022
Table of Contents
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INDEX |
PAGE NO. |
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PART I. |
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Item 1. |
3 |
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3 |
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4 |
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5 |
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6 |
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Consolidated Schedules of Investments as of March 31, 2022 (unaudited) and December 31, 2021 |
7 |
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22 |
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Item 2. |
Management’s Discussion and Analysis of Financial Condition and Results of Operations |
40 |
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Item 3. |
49 |
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Item 4. |
49 |
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PART II. |
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Item 1. |
50 |
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Item 1A. |
50 |
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Item 2. |
51 |
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Item 3. |
51 |
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Item 4. |
51 |
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Item 5. |
51 |
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Item 6. |
52 |
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53 |
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2
In this Quarterly Report, “Company”, “we”, “us” and “our” refer to BlackRock Capital Investment Corporation unless the context states otherwise.
Item 1. Consolidated Financial Statements
BlackRock Capital Investment Corporation
Consolidated Statements of Assets and Liabilities
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March 31, 2022 |
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December 31, 2021 |
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(Unaudited) |
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Assets |
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Investments at fair value: |
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Non-controlled, non-affiliated investments (cost of $487,539,706 and $520,501,274) |
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$ |
491,006,357 |
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$ |
526,504,945 |
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Non-controlled, affiliated investments (cost of $4,974,043 and $5,027,616) |
|
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4,660,863 |
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4,131,978 |
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Controlled investments (cost of $89,097,765 and $89,097,765) |
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22,083,000 |
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21,927,071 |
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Total investments at fair value (cost of $581,611,514 and $614,626,655) |
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517,750,220 |
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552,563,994 |
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Cash and cash equivalents |
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10,588,855 |
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12,750,121 |
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Interest, dividends and fees receivable |
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2,837,619 |
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3,671,722 |
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Deferred debt issuance costs |
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1,398,905 |
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|
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1,511,418 |
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Receivable for investments sold |
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83,157 |
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|
690,550 |
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Prepaid expenses and other assets |
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607,910 |
|
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|
788,469 |
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Total assets |
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$ |
533,266,666 |
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$ |
571,976,274 |
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Liabilities |
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Debt (net of deferred issuance costs of $194,703 and $425,272) |
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$ |
171,555,297 |
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$ |
196,875,330 |
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Distributions payable |
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7,380,270 |
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7,392,972 |
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Interest and debt related payables |
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2,371,204 |
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601,379 |
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Management fees payable |
|
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2,059,864 |
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2,122,519 |
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Income incentive fees payable (see Note 3) |
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19,013 |
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170,002 |
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Accrued capital gains incentive fees (see Note 3) |
|
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1,073,068 |
|
|
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1,544,569 |
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Accrued administrative expenses |
|
|
365,507 |
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|
384,225 |
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Payable for investments purchased |
|
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21,196 |
|
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11,679,798 |
|
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Accrued expenses and other liabilities |
|
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1,516,805 |
|
|
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1,553,507 |
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Total liabilities |
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186,362,224 |
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222,324,301 |
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Commitments and contingencies (see Note 9) |
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Net assets |
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Common stock, par value $.001 per share, 200,000,000 common shares authorized, 84,478,251 and 84,478,251 issued and 73,770,679 and 73,876,987 outstanding |
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84,478 |
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84,478 |
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Paid-in capital in excess of par |
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848,022,547 |
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852,360,178 |
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Distributable earnings (losses) |
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(432,272,960 |
) |
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(434,303,297 |
) |
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Treasury stock at cost, 10,707,572 and 10,601,264 shares held |
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(68,929,623 |
) |
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(68,489,386 |
) |
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Total net assets |
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346,904,442 |
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349,651,973 |
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Total liabilities and net assets |
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$ |
533,266,666 |
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$ |
571,976,274 |
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Net assets per share |
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$ |
4.70 |
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$ |
4.73 |
|
The accompanying notes are an integral part of these consolidated financial statements.
3
BlackRock Capital Investment Corporation
Consolidated Statements of Operations
(Unaudited)
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Three Months Ended |
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March 31, 2022 |
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March 31, 2021 |
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Investment income |
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Interest income (excluding PIK): |
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Non-controlled, non-affiliated investments |
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$ |
11,606,903 |
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$ |
8,049,250 |
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Non-controlled, affiliated investments |
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— |
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11,867 |
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Controlled investments |
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— |
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583,200 |
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PIK interest income: |
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Non-controlled, non-affiliated investments |
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123,018 |
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|
780,679 |
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Non-controlled, affiliated investments |
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115,896 |
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119,029 |
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Dividend income (excluding PIK): |
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Non-controlled, affiliated investments |
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— |
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71,500 |
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Controlled investments |
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— |
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511,067 |
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PIK dividend income: |
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Non-controlled, non-affiliated investments |
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75,882 |
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— |
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Other income: |
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Non-controlled, non-affiliated investments |
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260,588 |
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146,032 |
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Total investment income |
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12,182,287 |
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10,272,624 |
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Operating expenses |
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Interest and other debt expenses |
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2,728,951 |
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2,753,096 |
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Management fees |
|
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2,059,864 |
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|
1,799,766 |
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Incentive fees on income |
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|
19,013 |
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|
|
— |
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Incentive fees on capital gains(1) |
|
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(471,501 |
) |
|
|
— |
|
|
|
Administrative expenses |
|
|
365,507 |
|
|
|
322,115 |
|
|
|
Professional fees |
|
|
302,857 |
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|
412,159 |
|
|
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Insurance expense |
|
|
199,758 |
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|
199,364 |
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Director fees |
|
|
153,125 |
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|
153,125 |
|
|
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Investment advisor expenses |
|
|
25,819 |
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|
87,500 |
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Other operating expenses |
|
|
303,799 |
|
|
|
355,282 |
|
|
|
Total expenses, before incentive fee waiver |
|
|
5,687,192 |
|
|
|
6,082,407 |
|
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Incentive fee waiver (see Note 3) |
|
|
— |
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— |
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|
Total expenses, net of incentive fee waiver |
|
|
5,687,192 |
|
|
|
6,082,407 |
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Net investment income(1) |
|
|
6,495,095 |
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|
4,190,217 |
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Realized and unrealized gain (loss) on investments and foreign currency |
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Net realized gain (loss): |
|
|
|
|
|
|
|
|
|
|
Non-controlled, non-affiliated investments |
|
|
825,913 |
|
|
|
(646,274 |
) |
|
|
Non-controlled, affiliated investments |
|
|
— |
|
|
|
(7,989,591 |
) |
|
|
Controlled investments |
|
|
— |
|
|
|
(2,290,143 |
) |
|
|
Net realized gain (loss) |
|
|
825,913 |
|
|
|
(10,926,008 |
) |
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Net change in unrealized appreciation (depreciation): |
|
|
|
|
|
|
|
|
|
|
Non-controlled, non-affiliated investments |
|
|
(2,537,021 |
) |
|
|
9,868,556 |
|
|
|
Non-controlled, affiliated investments |
|
|
582,458 |
|
|
|
6,834,973 |
|
|
|
Controlled investments |
|
|
155,929 |
|
|
|
6,137,248 |
|
|
|
Foreign currency translation |
|
|
— |
|
|
|
96,019 |
|
|
|
Net change in unrealized appreciation (depreciation) |
|
|
(1,798,634 |
) |
|
|
22,936,796 |
|
|
|
Net realized and unrealized gain (loss) |
|
|
(972,721 |
) |
|
|
12,010,788 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
Net increase (decrease) in net assets resulting from operations |
|
$ |
5,522,374 |
|
|
$ |
16,201,005 |
|
|
|
|
|
|
|
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|
Net investment income per share—basic(1) |
|
$ |
0.09 |
|
|
$ |
0.06 |
|
|
|
Earnings (loss) per share—basic(1) |
|
$ |
0.07 |
|
|
$ |
0.22 |
|
|
|
Weighted average shares outstanding—basic |
|
|
73,822,190 |
|
|
|
74,436,429 |
|
|
|
Net investment income per share—diluted(1) |
|
$ |
0.09 |
|
|
$ |
0.06 |
|
|
|
Earnings (loss) per share—diluted(1) |
|
$ |
0.07 |
|
|
$ |
0.20 |
|
|
|
Weighted average shares outstanding—diluted (see Note 8) |
|
|
90,815,927 |
|
|
|
91,430,166 |
|
|
|
|
(1) |
Net investment income and per share amounts displayed above are net of the reversal for incentive fees on capital gains which is reflected on a hypothetical liquidation basis in accordance with GAAP for the three month period ended March 31, 2022 (see Note 3). |
The accompanying notes are an integral part of these consolidated financial statements.
4
BlackRock Capital Investment Corporation
Consolidated Statements of Changes in Net Assets
(Unaudited)
|
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Common Stock |
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|
|||||
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Shares Outstanding |
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Par Amount, Shares Issued |
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Paid in Capital in Excess of Par |
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Distributable earnings (loss) |
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Treasury Stock at Cost |
|
|
Total Net Assets |
|
||||||
|
Balance at December 31, 2021 |
|
|
73,876,987 |
|
|
$ |
84,478 |
|
|
$ |
852,360,178 |
|
|
$ |
(434,303,297 |
) |
|
$ |
(68,489,386 |
) |
|
$ |
349,651,973 |
|
|
Cumulative effect of adjustment for the adoption of ASU 2020-06(1) |
|
— |
|
|
— |
|
|
|
(4,337,631 |
) |
|
|
3,888,233 |
|
|
— |
|
|
|
(449,398 |
) |
|||
|
Repurchase of common stock |
|
|
(106,308 |
) |
|
— |
|
|
— |
|
|
— |
|
|
|
(440,237 |
) |
|
|
(440,237 |
) |
|||
|
Net investment income |
|
— |
|
|
— |
|
|
— |
|
|
|
6,495,095 |
|
|
— |
|
|
|
6,495,095 |
|
||||
|
Net realized and unrealized gain (loss) |
|
— |
|
|
— |
|
|
— |
|
|
|
(972,721 |
) |
|
— |
|
|
|
(972,721 |
) |
||||
|
Distributions to common stockholders(2) |
|
— |
|
|
— |
|
|
— |
|
|
|
(7,380,270 |
) |
|
— |
|
|
|
(7,380,270 |
) |
||||
|
Balance at March 31, 2022 |
|
|
73,770,679 |
|
|
$ |
84,478 |
|
|
$ |
848,022,547 |
|
|
$ |
(432,272,960 |
) |
|
$ |
(68,929,623 |
) |
|
$ |
346,904,442 |
|
|
|
|
Common Stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
Shares Outstanding |
|
|
Par Amount, Shares Issued |
|
|
Paid in Capital in Excess of Par |
|
|
Distributable earnings (loss) |
|
|
Treasury Stock at Cost |
|
|
Total Net Assets |
|
||||||
|
Balance at December 31, 2020 |
|
|
74,466,665 |
|
|
$ |
84,478 |
|
|
$ |
858,079,713 |
|
|
$ |
(476,857,055 |
) |
|
$ |
(66,296,859 |
) |
|
$ |
315,010,277 |
|
|
Repurchase of common stock |
|
|
(256,062 |
) |
|
— |
|
|
— |
|
|
— |
|
|
|
(869,726 |
) |
|
|
(869,726 |
) |
|||
|
Net investment income |
|
— |
|
|
— |
|
|
— |
|
|
|
4,190,217 |
|
|
— |
|
|
|
4,190,217 |
|
||||
|
Net realized and unrealized gain (loss) |
|
— |
|
|
— |
|
|
— |
|
|
|
12,010,788 |
|
|
— |
|
|
|
12,010,788 |
|
||||
|
Distributions to common stockholders(2) |
|
— |
|
|
— |
|
|
— |
|
|
|
(7,441,594 |
) |
|
— |
|
|
|
(7,441,594 |
) |
||||
|
Balance at March 31, 2021 |
|
|
74,210,603 |
|
|
$ |
84,478 |
|
|
$ |
858,079,713 |
|
|
$ |
(468,097,644 |
) |
|
$ |
(67,166,585 |
) |
|
$ |
322,899,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
(1) |
See Notes 2 and 4 for further information related to the adoption of ASU 2020-06. |
|
|
(2) |
Sources of distribution to stockholders will be adjusted on an annual basis, if necessary, and calculated in accordance with federal income tax regulations (see Note 2). For the three months ended March 31, 2022, it is estimated that $885,175 out of the total $7,380,270 distribution was from a return of capital based on book income. |
The accompanying notes are an integral part of these consolidated financial statements.
5
BlackRock Capital Investment Corporation
Consolidated Statements of Cash Flows
(Unaudited)
|
|
|
Three Months Ended |
|
|||||
|
|
|
March 31, 2022 |
|
|
March 31, 2021 |
|
||
|
Operating activities |
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets resulting from operations |
|
$ |
5,522,374 |
|
|
$ |
16,201,005 |
|
|
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
|
|
|
Net realized (gain) loss |
|
|
(825,913 |
) |
|
|
10,926,008 |
|
|
Change in unrealized (appreciation) depreciation of investments |
|
|
1,798,634 |
|
|
|
(22,840,777 |
) |
|
Change in unrealized (appreciation) depreciation on foreign currency translation |
|
|
— |
|
|
|
(96,019 |
) |
|
Interest and dividend income paid in kind |
|
|
(314,796 |
) |
|
|
(899,708 |
) |
|
Net amortization of investment discounts and premiums |
|
|
(800,203 |
) |
|
|
(390,583 |
) |
|
Amortization of deferred debt issuance costs |
|
|
343,082 |
|
|
|
370,152 |
|
|
Amortization of original issue discount on debt |
|
|
— |
|
|
|
231,690 |
|
|
Changes in assets and liabilities: |
|
|
|
|
|
|
|
|
|
Purchase of investments |
|
|
(43,688,548 |
) |
|
|
(53,898,523 |
) |
|
Proceeds from disposition of investments |
|
|
78,654,133 |
|
|
|
87,967,775 |
|
|
Decrease (increase) in interest, dividends and fees receivable |
|
|
824,571 |
|
|
|
129,822 |
|
|
Decrease (increase) in receivable for investments sold |
|
|
607,393 |
|
|
|
(9,111,440 |
) |
|
Decrease (increase) in prepaid expenses and other assets |
|
|
180,559 |
|
|
|
36,452 |
|
|
Increase (decrease) in payable for investments purchased |
|
|
(11,658,602 |
) |
|
|
(5,919,924 |
) |
|
Increase (decrease) in interest and debt related payables |
|
|
1,769,825 |
|
|
|
1,891,482 |
|
|
Increase (decrease) in management fees payable |
|
|
(62,655 |
) |
|
|
(513,681 |
) |
|
Increase (decrease) in income incentive fees payable |
|
|
(150,989 |
) |
|
|
— |
|
|
Increase (decrease) in accrued capital gains incentive fees |
|
|
(471,501 |
) |
|
|
— |
|
|
Increase (decrease) in accrued administrative expenses |
|
|
(18,718 |
) |
|
|
(66,949 |
) |
|
Increase (decrease) in accrued expenses and other liabilities |
|
|
(36,703 |
) |
|
|
(620,770 |
) |
|
Net cash provided by (used in) operating activities |
|
|
31,671,943 |
|
|
|
23,396,012 |
|
|
|
|
|
|
|
|
|
|
|
|
Financing activities |
|
|
|
|
|
|
|
|
|
Draws on credit facility |
|
|
37,000,000 |
|
|
|
3,000,000 |
|
|
Repayments of credit facility draws |
|
|
(63,000,000 |
) |
|
|
(41,800,000 |
) |
|
Distributions paid to common stockholders |
|
|
(7,392,972 |
) |
|
— |
|
|
|
Repurchase of common shares |
|
|
(440,237 |
) |
|
|
(869,726 |
) |
|
Net cash provided by (used in) financing activities |
|
|
(33,833,209 |
) |
|
|
(39,669,726 |
) |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents |
|
|
(2,161,266 |
) |
|
|
(16,273,714 |
) |
|
Cash and cash equivalents at beginning of period |
|
|
12,750,121 |
|
|
|
23,332,831 |
|
|
Cash and cash equivalents at end of period |
|
$ |
10,588,855 |
|
|
$ |
7,059,117 |
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental cash flow information |
|
|
|
|
|
|
|
|
|
Interest payments |
|
$ |
381,717 |
|
|
$ |
57,432 |
|
|
Tax payments |
|
$ |
20,464 |
|
|
$ |
20,050 |
|
The accompanying notes are an integral part of these consolidated financial statements.
6
BlackRock Capital Investment Corporation
Consolidated Schedules of Investments
March 31, 2022
(Unaudited)
|
Issuer(O/Q) |
|
Instrument |
|
Ref(E) |
|
Floor |
|
|
Spread |
|
|
Total Coupon |
|
|
Maturity |
|
Principal |
|
|
Cost(A) |
|
|
Fair Value(B) |
|
|
Notes |
||||||
|
Debt Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace & Defense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unanet, Inc. |
|
First Lien Term Loan |
|
LIBOR(M) |
|
|
— |
|
|
|
6.25 |
% |
|
|
6.75 |
% |
|
5/31/2024 |
|
$ |
6,632,653 |
|
|
$ |
6,602,606 |
|
|
$ |
6,632,653 |
|
|
|
|
Unanet, Inc. |
|
First Lien Delayed Draw Term Loan |
|
LIBOR(M) |
|
|
— |
|
|
|
6.25 |
% |
|
|
6.75 |
% |
|
5/31/2024 |
|
$ |
1,709,184 |
|
|
|
1,704,969 |
|
|
|
1,709,184 |
|
|
|
|
Unanet, Inc. |
|
First Lien Revolver |
|
LIBOR(M) |
|
|
— |
|
|
|
6.25 |
% |
|
|
6.75 |
% |
|
5/31/2024 |
|
$ |
816,327 |
|
|
|
812,641 |
|
|
|
816,327 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,120,216 |
|
|
|
9,158,164 |
|
|
|
|
Automobiles |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ALCV Purchaser, Inc. (AutoLenders) |
|
First Lien Term Loan |
|
LIBOR(Q) |
|
|
1.00 |
% |
|
|
6.75 |
% |
|
|
7.75 |
% |
|
4/15/2026 |
|
$ |
2,601,076 |
|
|
|
2,568,965 |
|
|
|
2,601,076 |
|
|
|
|
ALCV Purchaser, Inc. (AutoLenders) |
|
First Lien Revolver |
|
LIBOR(Q) |
|
|
1.00 |
% |
|
|
6.75 |
% |
|
|
7.75 |
% |
|
4/15/2026 |
|
$ |
— |
|
|
|
(2,823 |
) |
|
|
— |
|
|
N/S |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,566,142 |
|
|
|
2,601,076 |
|
|
|
|
Building Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Porcelain Acquisition Corporation (Paramount) |
|
First Lien Term Loan |
|
LIBOR(Q) |
|
|
1.00 |
% |
|
|
5.75 |
% |
|
|
6.76 |
% |
|
4/30/2027 |
|
$ |
2,190,962 |
|
|
|
2,152,515 |
|
|
|
2,208,490 |
|
|
|
|
Porcelain Acquisition Corporation (Paramount) |
|
First Lien Delayed Draw Term Loan |
|
LIBOR(Q) |
|
|
1.00 |
% |
|
|
5.75 |
% |
|
|
6.76 |
% |
|
4/30/2027 |
|
$ |
340,588 |
|
|
|
324,538 |
|
|
|
348,157 |
|
|
S |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,477,053 |
|
|
|
2,556,647 |
|
|
|
|
Capital Markets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pico Quantitative Trading, LLC |
|
First Lien Term Loan (1.0% Exit Fee) |
|
LIBOR(S) |
|
|
1.50 |
% |
|
|
7.25 |
% |
|
|
8.75 |
% |
|
2/7/2025 |
|
$ |
500,000 |
|
|
|
486,201 |
|
|
|
505,000 |
|
|
|
|
Pico Quantitative Trading, LLC |
|
First Lien Incremental Term Loan |
|
LIBOR(S) |
|
|
1.50 |
% |
|
|
7.25 |
% |
|
|
8.75 |
% |
|
2/7/2025 |
|
$ |
560,228 |
|
|
|
534,313 |
|
|
|
560,228 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,020,514 |
|
|
|
1,065,228 |
|
|
|
|
Commercial Services & Supplies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kellermeyer Bergensons Services, LLC |
|
First Lien Term Loan |
|
LIBOR(S) |
|
|
1.00 |
% |
|
|
6.00 |
% |
|
|
7.00 |
% |
|
11/7/2026 |
|
$ |
1,597,222 |
|
|
|
1,587,297 |
|
|
|
1,571,667 |
|
|
|
|
Kellermeyer Bergensons Services, LLC |
|
First Lien Delayed Draw Term Loan A |
|
LIBOR(S) |
|
|
1.00 |
% |
|
|
6.00 |
% |
|
|
||||||||||||||||||