Bcp Investment Corporation · NASDAQ:BCIC
Bcp Investment — KCAP Financial — Q1 2018 Earnings Presentation
8 slides from Bcp Investment's earnings presentation, 2018
Slide 1: First Quarter 2018 Earnings Presentation
First Quarter 2018 Earnings Presentation
Slide 2: Forward Looking / Non-GAAP Information
Forward Looking / Non-GAAP Information This presentation includes forward-looking statements. The matters discussed in this presentation, as well as in future oral and written statements by management of KCAP Financial, Inc., that are forward-looking statements are based on current management expect
Slide 3: Q1 2018 Highlights
Q1 2018 Highlights Net Investment Income of $0.07 per basic share for Q1’18 vs. $0.09 for Q1’17 Components of Distributable Resources Taxable Distributable Income of $0.06 per basic share for Q1’18 and $0.06 for Q1’17 Investment Income on debt securities portfolio represented ~55% of total com
Slide 4: Recent Activity
Recent Activity Executed new $50 million Revolving Credit Facility Approximately $19.8 million outstanding at March 31, 2018 Provides for significant additional liquidity in order to grow the investment portfolio Redeemed $20 million of 7.375% Notes Joint Venture nearly fully invested at M
Slide 5: Originations and Repayments
Originations and Repayments Invested $52 million in new originations during the first quarter Funded primarily with cash on hand from year-end 2017 Mix of first and second liens Repayments were slow in Q1 2018 Weighted average interest rate on income producing debt investments was 9.8% in
Slide 6: Portfolio Highlights
PORTFOLIO HIGHLIGHTS PORTFOLIO DEBT SECURITIES - INDUSTRY DIVERSIFICATION Related Party Loans 2% 1%1% 1% Healthcare & Pharmaceuticals 2% 2% High Tech Industries 2% 22% Energy: Oil & Gas 3% Textiles and Leather 3% Capital Equipment Beverage, Food and Tobacco 4% Chemicals, Plastics and Rubber Telecomm
Slide 7: Strong Credit Quality
Strong Credit Quality The credit quality of our current portfolio remains strong. 78% of the debt securities portfolio is secured as of March 31, 2018. One investment was on non-accrual status. Two of our PIK investments were on partial non-accrual status. Data as of 3/31/18 unless otherwise
Slide 8: Financial Highlights
Financial Highlights NET ASSET VALUE INVESTMENT PORTFOLIO NAV per Cost/Amortized March 31, 2018 Fair Value Share March 31, 2018 Cost Fair Value Investments at Fair Value Short-term investments $ 9,905,719 $ 9,905,719 Investments in money markets $ 9,905,719 $ 0.27 Senior Secured Loan 56,195,353 52,9