Oxford Square Capital Corp. · NASDAQ:OXSQ
Oxford Square Capital — Q3 2022 Earnings Presentation
13 slides from Oxford Square Capital's earnings presentation, Sep 30, 2022
Slide 1: Oxford Square Capital Corp. Investor Presentation Quarter Ended September 30, 2022
Oxford Square Capital Corp. Investor Presentation Quarter Ended September 30, 2022
Slide 2: Disclaimer
Disclaimer This presentation is neither an offer to sell, nor a solicitation of an offer to purchase, any securities of Oxford Square Capital Corp. (“OXSQ” or the “Company”). This presentation and the summaries contained herein do not purport to be complete and no obligation to update or otherwise r
Slide 3: Financial Highlights
Financial Highlights ($ per share) Q3-22 Q2-22 Q1-22 Q4-21 Q3-21 GAAP net investment income1 $ 0.11 $ 0.09 $ 0.09 $ 0.09 $ 0.08 Distributions declared and paid $ 0.105 $ 0.105 $ 0.105 $ 0.105 $ 0.105 Net realized gains (losses) on investments 1 $ 0.00 $ (0.03) $ 0.02 $ (0.08) $ 0.03 Net unrealized (
Slide 4: Summary Portfolio Highlights
Summary Portfolio Highlights Portfolio Activity ($ in millions) Q3-22 Q2-22 Q1-22 Q4-21 Q3-21 New investments $ 3.9 $ 26.9 $ 47.4 $ 23.3 $ 23.1 Repayments and Sales 12.8 9.6 42.0 11.9 5.7 Net investment activity $ (8.8) $ 17.2 $ 5.3 $ 11.4 $ 17.4 Weighted average yield of debt investments at current
Slide 5: CLO Equity & Initial Distribution Schedule
CLO Equity & Initial Distribution Schedule ($ in millions) Q3-22 Q2-22 Q1-22 Q4-21 Q3-21 1 CLO equity which has made its initial distribution to OXSQ (at original cost) $ 242.9 $ 221.4 $ 232.6 $ 203.7 $ 209.1 CLO equity which has not made its initial distribution to OXSQ (at original cost)2 3.9 23.3
Slide 6: CLO Portfolio Summary
CLO Portfolio Summary OXSQ CLO Portfolio Information as of 09/30/2022 Junior Tranche Interest Diversion Weighted Weighted Average Non-Call Reinvestment AAA Spread Weighted Average Diversity CLO Equity Positions CLO Vintage Year1 Tranche Type Overcollateralization Overcollateralization Average Rating
Slide 7: Investment Portfolio
Investment Portfolio $340.2 million portfolio composed of 61 portfolio investments1 Average investment by fair value represents 1.6% of total portfolio Top 10 portfolio investments by fair value represent 46.5% of total portfolio2 Total Investments by Asset Type1,3,4,5 Corporate Loan Portfolio
Slide 8: Portfolio Grading
Portfolio Grading OXSQ’s debt portfolio has a weighted-average credit OXSQ’s debt portfolio has a weighted-average credit rating of 2.4 on a principal value basis rating of 2.2 on a fair value basis 9.3% 0.2% 16.0% 15.6% Grade 2 Grade 3 Grade 2 Grade 5 Grade 3 Grade 5 75.1% 83.8% Portfolio Grading C
Slide 9: Investments on Non-Accrual Status
Investments on Non-Accrual Status ($ in millions) Q3-22 Q2-22 Q1-22 Q4-21 Q3-21 Non-accrual debt investments at current cost $ 23.7 $ 23.7 $ 23.7 $ 23.7 $ 23.7 Non-accrual preferred equity investments at current cost $ 16.2 $ 16.2 $ 16.2 $ 16.2 $ 16.2 Total non-accrual investments at current cost $
Slide 10: Outstanding Debt
Outstanding Debt ($ in thousands) Principal Amount 1 1 Carrying Value Cost of Debt Maturity Outstanding Unsecured Notes due 2024 $ 64,370 $ 63,883 6.50% Mar-24 Unsecured Notes due 2026 $ 44,791 $ 43,955 6.25% Apr-26 Unsecured Notes due 2028 $ 80,500 $ 78,249 5.50% Jul-28 Total Debt $ 189,661 $ 186,0
Slide 11: Quarterly Balance Sheet
Quarterly Balance Sheet As of ($ in millions, except per share) 9/30/2022 6/30/2022 3/31/2022 12/31/2021 9/30/2021 Assets Total investments at fair value $ 340.2 $ 369.4 $ 406.2 $ 420.8 $ 421.1 Cash and cash equivalents 14.4 23.2 15.1 9.0 19.5 Other assets 3.4 4.1 3.9 3.7 4.1 Total assets $ 358.0 $
Slide 12: Quarterly Income Statement
Quarterly Income Statement For the three months ended ($ in millions, except per share) 9/30/2022 6/30/2022 3/31/2022 12/31/2021 9/30/2021 Investment Income Interest income $ 6.8 $ 5.7 $ 5.3 $ 5.1 $ 4.5 Income from securitization vehicles 4.4 4.1 4.4 4.8 5.1 Fee and other income 0.2 0.2 0.2 0.2 0.2
Slide 13: Corporate Information
Corporate Information Board of Directors Fiscal Year End Executive Corporate Officers Independent December 31 Jonathan H. Cohen Board Member and Chief Executive Officer Steven P. Novak - Chairman Saul B. Rosenthal President and Chief Operating Officer Barry Osherow Independent Audit Firm Bruce L. Ru
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