OFS Credit Company Inc · NASDAQ:OCCI
OFS Credit — Investor Presentation (June 2024)
18 slides from OFS Credit's investor presentation, June 2024
Slide 1: OFS Credit Company, Inc. (OCCI) Investor Presentation
OFS Credit Company, Inc. (“OCCI”) Investor Presentation NASDAQ: OCCI (common stock) NASDAQ: OCCIN and OCCIO (preferred stock) June 2024 www.ofscreditcompany.com www.cimgroup.com || ©2024 ©2018OFS CIMCredit GroupCompany | TRADE SECRET / CONFIDENTIAL INFORMATION
Slide 2: Important Disclosures
Important Disclosures This presentation and the information and views included herein do not constitute investment advice, or a recommendation or an offer to enter into any transaction with OFS Credit Company, Inc. (the “Company” or “OCCI”) or any of its affiliates. This presentation is provided for
Slide 3: OFS Credit Company (NASDAQ: OCCI)
OFS Credit Company (NASDAQ: OCCI) » OCCI is a Nasdaq-listed closed-end fund that primarily invests in CLO equity and debt securities Overview » Per share Net Asset Value of $7.34 as of April 30, 2024 » OFS was established in 1994 and has $4.0 billion of assets under management1 Advisor » Focused on:
Slide 4: Second Fiscal Quarter 2024 Highlights
Second Fiscal Quarter 2024 Highlights1 » Net investment income (“NII”) of $4.5 million, or $0.28 per common share, for the fiscal quarter ended April 30, 2024. This compares to NII of $4.6 million, or $0.29 per common share, for the fiscal quarter ended January 31, 2024. Net Asset Value per common s
Slide 5: OFS Credit Company (NASDAQ: OCCI)
OFS Credit Company (NASDAQ: OCCI) » We believe CLO equity has the potential to generate higher quarterly cash distributions relative to other high-yielding credit investments - CLOs primarily invest in a diversified pool of loans to large, rated U.S. corporations - Generally, first lien senior secur
Slide 6: Access to Infrastructure and Resources of Large Platform
Access to Infrastructure and Resources of Large Platform1 » OFS is part of a group of affiliated firms controlled by Richard Ressler that own, operate and manage approximately $33 billion of real assets and corporate credit » Since 1994, OFS Capital Management2 has invested approximately $23 billion
Slide 7: Access to Infrastructure and Resources of Large Platform
Access to Infrastructure and Resources of Large Platform » Investing across the U.S. corporate loan market » Seasoned investment team with diverse skill set - dedicated industry analysts and loan and CLO structuring expertise within the platform $4.0 Billion Assets Under Management1 Middle Market Le
Slide 8: Portfolio Composition and Years of Reinvestment
Portfolio Composition and Years of Reinvestment Portfolio Composition1 Years of Reinvestment Period2, 3 4 5 1. Based on fair value as of April 30, 2024. 2. Weighted by fair value as of April 30, 2024. Includes estimated reinvestment end dates for warehouse investments and unsettled trades. 3. The we
Slide 9: Portfolio Highlights
Portfolio Highlights Fiscal Quarter Ended (Unaudited) 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 Select Portfolio Funds Roll Data Beginning investment balance at cost $ 225,314,651 $ 219,978,627 $ 195,620,796 $ 187,809,208 $ 181,161,434 Portfolio purchases 15,886,277 15,114,639 36,486,875 10
Slide 10: Debt Capital Summary as of April 30, 2024
Debt Capital Summary as of April 30, 2024 NASDAQ Payment Optional Funding Source: Outstanding Par Ticker Coupon Frequency Redemption Date Maturity Date Preferred Stock Series C Term Preferred Stock $ 23,000,000 OCCIO 6.125% Monthly April 30, 2023 April 30, 2026 Series D Term Preferred Stock 3,000,00
Slide 11: Track Record
Track Record $11.65 per share in distributions declared since inception1 Average quarterly distribution of $0.51 per share1 Cumulative Distributions1 1. Distributions are not guaranteed. Past performance is not indicative of future results. Includes the most recent distribution declared on May 1, 20
Slide 12: Underlying Portfolio Characteristics
Underlying Portfolio Characteristics Maturity Distribution of Underlying Obligors1 Spread Distribution of Underlying Obligors1 S&P Rating Distribution of Underlying Obligors1, 2 1. Source: CLO trustee reports as reported by Intex. Based on the issuers’ most recently reported positions as of April 30
Slide 13: Industry Exposure and Top Obligors
Industry Exposure and Top 10 Obligors1 Top 10 Industries of Underlying Obligors Top 10 Underlying Obligors 4/30/24 4/30/24 Moody's Industry Name % of Total Obligor % of Total High Tech Industries 9.7% Asurion 0.7% Banking, Finance, Insurance & Real Estate 9.4% Virgin Media 0.5% Services: Business 9.
Slide 14: Appendices
Appendices www.ofscreditcompany.com www.cimgroup.com || ©2024 ©2018OFS CIMCredit GroupCompany | TRADE SECRET / CONFIDENTIAL INFORMATION Trade Secret | Confidential Information
Slide 15: Experienced Leadership of OFS Capital Management
Experienced Leadership of OFS Capital Management Experienced management team that has underwritten through multiple business cycles. The Senior Investment Team of OFS averages over 25 years of experience structuring and investing in CLOs, debt securities, and loans » 25+ years of experience (10+ wit
Slide 16: Condensed Balance Sheets
Condensed Balance Sheets As of 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 (Unaudited) (Unaudited) (Audited) (Unaudited) (Unaudited) Assets Investments, at fair value $ 164,612,310 $ 177,635,351 $ 168,097,728 $ 147,075,483 $ 142,583,099 Cash 15,301,126 6,872,267 16,781,214 22,541,930 16,668,8
Slide 17: Condensed Statements of Operations
Condensed Statements of Operations Fiscal Quarter Ended (Unaudited) 4/30/2024 1/31/2024 10/31/2023 7/31/2023 4/30/2023 Investment income Interest income $ 8,072,956 $ 8,439,715 $ 9,079,506 $ 7,228,780 $ 6,908,517 Expenses Interest Expense 963,162 979,848 1,021,241 1,021,241 1,021,241 Management fees
Slide 18: Supplemental Schedule - Core Net Investment Income
Supplemental Schedule - Core Net Investment Income We provide information relating to Core NII (a non-GAAP measure) on a supplemental basis. This measure is not provided as a substitute for GAAP NII, but in addition to it. Our non-GAAP measures may differ from similar measures by other companies, ev
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