Business
Capital Southwest Announces Financial Results for Second Fiscal Quarter Ended September 30, 2021
CSWC Reports Pre-Tax Net Investment Income of $0.45 Per Share for Quarter Ended September 30, 2021 and Affirms $0.97 Total Dividends to be paid for the
About this update from Capital Southwest Corporation
[{"type":"text","content":"CSWC Reports Pre-Tax Net Investment Income of $0.45 Per Share for Quarter Ended September 30, 2021 and Affirms $0.97 Total Dividends to be paid for the Quarter Ended December 31, 2021\nDALLAS, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest,” “CSWC” or the “Company”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced its financial results for the second fiscal quarter ended September 30, 2021. Second Quarter Fiscal Year 2022 Financial Highlights Total Investment Portfolio: $818.2 million Credit Portfolio of $689.4 million: 91% 1st Lien Senior Secured Debt$111.7 million in new committed credit investmentsWeighted Average Yield on Debt Investments: 9.7%Three credit investments currently on non-accrual with a fair value of $24.2 million, representing 3.0% of the total investment portfolio Equity Portfolio of $69.2 million, excluding investment in I-45 Senior Loan Fund (\"I-45 SLF\") $1.2 million in new equity co-investments CSWC Investment in I-45 SLF of $59.6 million at fair value I-45 SLF portfolio of $169.0 million Portfolio consists of 38 issuers: 95% 1st Lien Debt $97.0 million of debt outstanding at I-45 SLF as of September 30, 2021 I-45 SLF fund leverage of 1.30x debt to equity at fair value at quarter end I-45 SLF paid a $1.6 million quarterly dividend to CSWC; an annualized yield of 10.5% Pre-Tax Net Investment Income: $10.0 million, or $0.45 per weighted average diluted shareDividends: Paid $0.44 per share Regular Dividend, $0.10 per share Supplemental Dividend 109% LTM Pre-Tax NII Regular Dividend CoverageTotal Dividends for the quarter ended September 30, 2021 of $0.54 per shareUndistributed Taxable Income at quarter end estimated at $0.69 per share Net Realized and Unrealized Appreciation on Investments: $2.8 million $4.5 million of net appreciation related to the equity portfolio$0.1 million of net depreciation related to the credit portfolio$1.6 million of net depreciation related to I-45 SLF LLC Realized Loss on Extinguishment of Debt: $17.1 million Redeemed $125 million in aggregate principal amount of the 5.375% Notes due 2024 (the \"October 2024 Notes\")Realized loss relating to the October 2024 Notes redemption consists of \"make-...