Oxford Square Capital Corp. · NASDAQ:OXSQ
Oxford Square Capital — Q1 2021 Earnings Presentation
13 slides from Oxford Square Capital's earnings presentation, Mar 31, 2021
Slide 1: Oxford Square Capital Corp. Investor Presentation Quarter Ended March 31, 2021
Oxford Square Capital Corp. Investor Presentation Quarter Ended March 31, 2021
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) Q1-21 Q4-20 Q3-20 Q2-20 Q1-20 GAAP net investment income1 $ 0.10 $ 0.10 $ 0.09 $ 0.09 $ 0.13 Distributions declared and paid $ 0.105 $ 0.105 $ 0.105 $ 0.201 $ 0.201 Net realized losses on investments 1 $ (0.28) $ (0.02) $ (0.09) $ (0.06) $ (0.01) Net unrealized gai
Slide 4: Summary Portfolio Highlights
Summary Portfolio Highlights Portfolio Activity ($ in millions) Q1-21 Q4-20 Q3-20 Q2-20 Q1-20 New investments $ 32.9 $ 46.9 $ 18.3 $ 21.3 $ 7.4 Exits 18.3 76.5 8.9 26.2 23.0 Net investment activity $ 14.6 $ (29.6) $ 9.4 $ (4.9) $ (15.7) 1 Weighted average yield of debt investments at current cost 7.
Slide 5: CLO Equity & Initial Distribution Schedule
CLO Equity & Initial Distribution Schedule ($ in millions) Q1-21 Q4-20 Q3-20 Q2-20 Q1-20 1 CLO equity which has made its initial distribution to OXSQ (at original cost) $ 199.1 $ 212.1 $ 214.3 $ 220.1 $ 223.8 1,2 CLO equity which has not made its initial distribution to OXSQ (at original cost) 21.9
Slide 6: CLO Portfolio Summary
CLO Portfolio Summary OXSQ CLO Portfolio Information As of March 31, 2021 Junior Tranche Interest Diversion Weighted Weighted Average CLO Vintage Tranche Non-Call Reinvestment AAA Spread Weighted Average CLO Equity Positions Overcollateralization Overcollateralization Average Rating Diversity Score*
Slide 7: Investment Portfolio
Investment Portfolio ▪ $320.6 million portfolio composed of 53 portfolio investments1 ▪ Average investment by fair value represents 1.9% of total portfolio ▪ Top 10 portfolio investments by fair value represent 47.3% of total portfolio2 Total Investments by Asset Type1,3 Corporate Loan Portfolio by
Slide 8: Portfolio Grading
Portfolio Grading OXSQ’s debt portfolio has a weighted-average credit OXSQ’s debt portfolio has a weighted-average credit rating of 2.2 on a principal value basis rating of 2.1 on a fair value basis 5.5% 1.8% 6.4% 6.8% Grade 2 Grade 2 Grade 3 Grade 3 Grade 5 Grade 5 87.7% 91.7% Portfolio Grading Com
Slide 9: Investments on Non-Accrual Status
Investments on Non-Accrual Status ($ in millions) Q1-21 Q4-20 Q3-20 Q2-20 Q1-20 Non-accrual debt investments at current cost $ 9.8 $ 23.4 $ 23.8 $ 24.2 $ 24.3 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 $ 2
Slide 10: Outstanding Debt
Outstanding Debt ($ in thousands) Principal Amount 1 Cost of Debt Maturity Carrying Value Outstanding1 Unsecured Notes due 2024 $ 64,370 $ 63,395 6.50% Mar-24 Unsecured Notes due 2026 $ 44,791 $ 43,605 6.25% Apr-26 Total Debt $ 109,161 $ 107,000 Total Equity $ 242,046 Debt to Equity 0.45x Note: Cert
Slide 11: Quarterly Balance Sheet
Quarterly Balance Sheet As of ($ in millions, except per share) 3/31/2021 12/31/2020 9/30/2020 6/30/2020 3/31/2020 Assets Total investments at fair value $ 320.6 $ 294.7 $ 295.3 $ 270.8 $ 261.8 Cash and cash equivalents 39.7 59.1 2.2 20.1 7.8 Securities sold not settled - 1.0 - - 1.7 Other assets 2.
Slide 12: Quarterly Income Statement
Quarterly Income Statement For the three months ended ($ in millions, except per share) 3/31/2021 12/31/2020 9/30/2020 6/30/2020 3/31/2020 Investment Income Interest income $ 4.2 $ 5.2 $ 4.5 $ 4.9 $ 5.7 Income from securitization vehicles 4.7 3.5 3.6 3.2 4.8 Fee and other income 0.5 (0.1) 0.2 0.2 0.
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 Richard W. Neu Independent Audit Firm Bruce L. R
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