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Section 1: 10-Q (10-Q)

Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
ý
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2018
OR
o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 Commission File Number: 814-00659 
PROSPECT CAPITAL CORPORATION
(Exact name of Registrant as specified in its charter)
Maryland
43-2048643
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
10 East 40th Street, 42nd Floor
 
New York, New York
10016
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (212) 448-0702

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý    No o
Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files). Yes o    No o
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer ý
Accelerated filer o
Non-accelerated filer o
Smaller reporting company o
 (Do not check if a smaller reporting company)
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o    No ý
Indicate the number of shares outstanding of each of the issuer's classes of common stock as of the latest practicable date.
Class of Common Stock
 
Outstanding at February 6, 2019
$0.001 par value
 
366,710,348




Table of Contents
 
 
Page
 
PART I
FINANCIAL INFORMATION
 
 
 
 
 
 
 
 
PART II
OTHER INFORMATION
 
 
 




FORWARD-LOOKING STATEMENTS
This report contains information that may constitute “forward-looking statements.” Generally, the words “believe,” “expect,”
“intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to volume growth, share of sales and earnings per share growth, and statements expressing general views about future operating results—are forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Part II, “Item 1A. Risk Factors” and elsewhere in this report and in our Annual Report on Form 10-K for the year ended June 30, 2018, and those described from time to time in our future reports filed with the Securities and Exchange Commission.

3


PART I
Item 1. Financial Statements
PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES
(in thousands, except share and per share data)
 
December 31, 2018
 
June 30, 2018
 
 
 
(Unaudited)
 
(Audited)
Assets
 
 
 

Investments at fair value:
 

 
 

Control investments (amortized cost of $2,381,352 and $2,300,526, respectively)
$
2,432,766

 
$
2,404,326

Affiliate investments (amortized cost of $176,997 and $55,637, respectively)
91,861

 
58,436

Non-control/non-affiliate investments (amortized cost of $3,538,047 and $3,475,295, respectively)
3,317,943

 
3,264,517

Total investments at fair value (amortized cost of $6,096,396 and $5,831,458, respectively)
5,842,570

 
5,727,279

Cash
109,668

 
83,758

Receivables for:
 
 
 
Interest, net
7,663

 
19,783

Other
237

 
1,867

Deferred financing costs on Revolving Credit Facility (Note 4)
8,493

 
2,032

Due from broker (Note 6)
580

 
3,029

Prepaid expenses
568

 
984

Due from Affiliate (Note 13)
88

 
88

Total Assets 
5,969,867

 
5,838,820

Liabilities 
 

 
 

Revolving Credit Facility (Notes 4 and 8)
297,000

 
37,000

Convertible Notes (less unamortized debt issuance costs of $10,636 and $13,074, respectively)
(Notes 5 and 8)
798,011

 
809,073

Public Notes (less unamortized discount and debt issuance costs of $13,946 and $11,007,
  respectively) (Notes 6 and 8)
742,762

 
716,810

Prospect Capital InterNotes® (less unamortized debt issuance costs of $11,641 and $11,998,
respectively) (Notes 7 and 8)
714,018

 
748,926

Due to Prospect Capital Management (Note 13)
51,301

 
49,045

Interest payable
32,975

 
33,741

Dividends payable
21,963

 
21,865

Due to broker

 
6,159

Accrued expenses
5,505

 
5,426

Due to Prospect Administration (Note 13)
1,785

 
2,212

Other liabilities
1,372

 
1,516

Total Liabilities 
2,666,692

 
2,431,773

Commitments and Contingencies (Note 3)


 
 
Net Assets 
$
3,303,175

 
$
3,407,047

 
 
 
 
Components of Net Assets 
 

 
 

Common stock, par value $0.001 per share (1,000,000,000 common shares authorized; 366,055,966 and 364,409,938 issued and outstanding, respectively) (Note 9)
$
366

 
$
364

Paid-in capital in excess of par (Note 9)
4,032,761

 
4,021,541

Accumulated overdistributed net investment income
(10,716
)
 
(45,186
)
Accumulated net realized loss
(465,410
)
 
(465,493
)
Net unrealized loss
(253,826
)
 
(104,179
)
Net Assets 
$
3,303,175

 
$
3,407,047

 
 
 
 
Net Asset Value Per Share (Note 16) 
$
9.02

 
$
9.35


See notes to consolidated financial statements.
4


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
(Unaudited)

 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2018
 
2017
 
2018
 
2017
Investment Income
 
 
 
 
 
 
 
Interest income:
 
 
 
 
 
 
 
Control investments
$
53,674

 
$
47,418

 
$
110,128

 
$
93,448

Affiliate investments
174

 

 
401

 
205

Non-control/non-affiliate investments
68,679

 
75,833

 
137,288

 
148,263

Structured credit securities
35,467

 
30,131

 
69,619

 
59,551

Total interest income
157,994

 
153,382

 
317,436

 
301,467

Dividend income:
 
 
 
 
 
 
 
Control investments
13,000

 

 
27,665

 

Non-control/non-affiliate investments
266

 
326

 
528

 
870

Total dividend income
13,266

 
326

 
28,193

 
870

Other income:
 
 
 
 
 
 
 
Control investments
15,741

 
4,038

 
18,532

 
6,129

Non-control/non-affiliate investments
882

 
4,654

 
4,144

 
12,513

Total other income (Note 10)
16,623

 
8,692

 
22,676

 
18,642

Total Investment Income
187,883

 
162,400

 
368,305

 
320,979

Operating Expenses
 
 
 
 
 
 
 
Base management fee (Note 13)
33,187

 
29,559

 
63,144

 
59,722

Income incentive fee (Note 13)
20,203

 
18,298

 
41,493

 
34,231

Interest and credit facility expenses
40,656

 
39,347

 
78,564

 
80,382

Allocation of overhead from Prospect Administration (Note 13)
5,642

 
(824
)
 
9,007

 
2,704

Audit, compliance and tax related fees
2,389

 
1,866

 
2,782

 
2,954

Directors’ fees
150

 
112

 
229

 
225

Other general and administrative expenses
4,845

 
850

 
7,116

 
3,837

Total Operating Expenses
107,072

 
89,208

 
202,335

 
184,055

Net Investment Income
80,811

 
73,192

 
165,970

 
136,924

Net Realized and Net Change in Unrealized Gains (Losses) from Investments
 
 
 
 
 
 
 
Net realized gains (losses)
 
 
 
 
 
 
 
Control investments
2,801

 
2

 
2,802

 
11

Affiliate investments

 

 

 
846

Non-control/non-affiliate investments
192

 
(5,675
)
 
1,232

 
(5,093
)
Net realized gains (losses)
2,993

 
(5,673
)
 
4,034

 
(4,236
)
Net change in unrealized (losses) gains
 
 
 
 
 
 
 
Control investments
(85,733
)
 
44,425

 
(33,815
)
 
45,518

Affiliate investments
(5,894
)
 
1,533

 
(19,649
)
 
6,726

Non-control/non-affiliate investments
(59,069
)
 
8,737

 
(96,183
)
 
(50,300
)
Net change in unrealized (losses) gains
(150,696
)
 
54,695

 
(149,647
)
 
1,944

Net Realized and Net Change in Unrealized (Losses) Gains from Investments
(147,703
)
 
49,022

 
(145,613
)
 
(2,292
)
Net realized losses on extinguishment of debt
(497
)
 
(487
)
 
(3,951
)
 
(932
)
Net (Decrease) Increase in Net Assets Resulting from Operations
$
(67,389
)
 
$
121,727

 
$
16,406

 
$
133,700

Net (decrease) increase in net assets resulting from operations per share
$
(0.18
)
 
$
0.34

 
$
0.04

 
$
0.37

Dividends declared per share
$
(0.18
)
 
$
(0.18
)
 
$
(0.36
)
 
$
(0.41
)

See notes to consolidated financial statements.
5


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
(in thousands, except share data)
(Unaudited)

 
Six Months Ended December 31,
 

2018
 
2017
Operations
 

 
 

Net investment income
$
165,970

 
$
136,924

Net realized gains (losses)
83

 
(5,168
)
Net change in net unrealized (losses) gains
(149,647
)
 
1,944

Net Increase in Net Assets Resulting from Operations 
16,406

 
133,700

 
 
 
 
Distributions to Shareholders
 
 
 
Distribution from net investment income
(131,531
)
 
(146,559
)
Net Decrease in Net Assets Resulting from Distributions to Shareholders
(131,531
)
 
(146,559
)
 
 
 
 
Common Stock Transactions 
 
 
 
Value of shares issued through reinvestment of dividends
11,253

 
6,319

Net Increase in Net Assets Resulting from Common Stock Transactions
11,253

 
6,319

 
 
 
 
Total Decrease in Net Assets
(103,872
)
 
(6,540
)
Net assets at beginning of period
3,407,047

 
3,354,952

Net Assets at End of Period (Accumulated Overdistributed Net Investment Income of $10,716 and $64,446, respectively)
$
3,303,175

 
$
3,348,412

 
 
 
 
Common Stock Activity
 
 
 
Shares issued through reinvestment of dividends
1,646,028

 
903,819

  Shares issued and outstanding at beginning of period
364,409,938

 
360,076,933

Shares Issued and Outstanding at End of Period
366,055,966

 
360,980,752

 


See notes to consolidated financial statements.
6


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, except share data)
(Unaudited)

 
Six Months Ended December 31,
 
2018
 
2017
Operating Activities
 
 
 
Net increase in net assets resulting from operations
$
16,406

 
$
133,700

Net realized losses on extinguishment of debt
3,951

 
932

Net realized (gains) losses on investments
(4,034
)
 
4,236

Net change in net unrealized losses (gains) on investments
149,647

 
(1,944
)
(Accretion of premiums) and amortization of discounts, net
(120
)
 
22,607

Accretion of discount on Public Notes (Note 6)
235

 
141

Amortization of deferred financing costs
6,343

 
6,219

Payment-in-kind interest
(19,306
)
 
(3,980
)
Structuring fees
(3,434
)
 
(5,531
)
Change in operating assets and liabilities:
 
 
 
Payments for purchases of investments
(458,154
)
 
(951,377
)
Proceeds from sale of investments and collection of investment principal
220,110

 
1,353,163

Decrease in due to broker
(6,159
)
 
(50,371
)
Increase (decrease) in due to Prospect Capital Management
2,256

 
(620
)
Decrease (increase) in interest receivable, net
12,120

 
(4,873
)
(Decrease) increase in interest payable
(766
)
 
550

Increase (decrease) in accrued expenses
79

 
(765
)
Decrease (increase) in due from broker
2,449

 
(600
)
(Decrease) increase in other liabilities
(144
)
 
52

Decrease in other receivables
1,630

 
161

Increase in due from Prospect Administration

 
(2,082
)
Increase in due from affiliate

 
(74
)
Decrease in prepaid expenses
416

 
579

(Decrease) Increase in due to Prospect Administration
(427
)
 
25

Net Cash (Used in) Provided by Operating Activities
(76,902
)
 
500,148

Financing Activities
 
 
 
Borrowings under Revolving Credit Facility (Note 4)
746,791

 
341,000

Principal payments under Revolving Credit Facility (Note 4)
(486,791
)
 
(341,000
)
Issuances of Public Notes, net of original issue discount (Note 6)
182,427

 

Redemptions of Public Notes (Note 6)
(153,536
)
 

Redemptions of Convertible Notes (Note 5)

 
(50,734
)
Repurchase of Convertible Notes, net (Note 5)
(13,433
)
 

Issuances of Prospect Capital InterNotes® (Note 7)
69,586

 
52,177

Redemptions of Prospect Capital InterNotes®, net (Note 7)
(104,851
)
 
(195,174
)
Financing costs paid and deferred
(17,201
)
 
(1,437
)
Dividends paid
(120,180
)
 
(148,587
)
Net Cash Provided by (Used in) Financing Activities
102,812

 
(343,755
)
 
 
 
 
Net Increase in Cash
25,910

 
156,393

Cash at beginning of period
83,758

 
318,083

Cash at End of Period
$
109,668

 
$
474,476

Supplemental Disclosures
 
 
 
Cash paid for interest
$
72,752

 
$
73,472

Non-Cash Financing Activities
 
 
 
Value of shares issued through reinvestment of dividends
$
11,253

 
$
6,319

Cost basis of investments written off as worthless
$

 
$
5,662


See notes to consolidated financial statements.
7


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS
(in thousands, except share data)





 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets



 







LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 



 







Control Investments (greater than 25.00% voting control)(47)
 
 
 
 
 



 







CCPI Inc.(19)
Electronic Equipment, Instruments & Components
Senior Secured Term Loan A (10.00%, due 12/31/2020)(3)
12/13/2012
$
2,797

$
2,797

$
2,797

0.1%
Senior Secured Term Loan B (12.00% plus 7.00% PIK, due 12/31/2020)(3)(46)
12/13/2012
17,566

17,566

17,566

0.5%
Common Stock (14,857 shares)(16)
12/13/2012


6,759

20,919

0.6%



 


27,122

41,282

1.2%
CP Energy Services Inc.(20)
Energy Equipment & Services
Senior Secured Term Loan (13.81% (LIBOR + 11.00% with 1.00% LIBOR floor), due 12/29/2022)(11)
12/29/2017
35,048

35,048

35,048

1.1%
Series B Convertible Preferred Stock (16.00%, 790 shares)(16)
10/30/2015


63,225

63,225

1.9%
Common Stock (102,924 shares)(16)
8/2/2013


81,203

31,945

1.0%



 


179,476

130,218

4.0%
Credit Central Loan Company, LLC(21)
Consumer Finance
Subordinated Term Loan (10.00% plus 10.00% PIK, due 6/26/2024)(14)(46)
6/24/2014
53,631

50,180

53,631

1.6%
Class A Units (10,640,642 units)(14)(16)
6/24/2014


13,731

14,292

0.5%
Net Revenues Interest (25% of Net Revenues)(14)(16)
1/28/2015



938

—%



 


63,911

68,861

2.1%
Echelon Transportation, LLC
Aerospace & Defense
Senior Secured Term Loan (11.83% (LIBOR + 9.75% with 2.00% LIBOR floor) plus 2.25% PIK, due 3/31/2022)(13)(46)
3/31/2014
33,811

33,811

33,811

1.0%
Senior Secured Term Loan (11.08% (LIBOR + 9.00% with 2.00% LIBOR floor) plus 1.00% PIK, due 12/7/2024)(13)(46)
12/9/2016
17,012

17,012

17,012

0.5%
Membership Interest (100%)(16)
3/31/2014


22,738

40,997

1.3%



 


73,561

91,820

2.8%
First Tower Finance Company LLC(23)
Consumer Finance
Subordinated Term Loan to First Tower, LLC (10.00% plus 10.00% PIK, due 6/24/2019)(14)(46)
6/24/2014
272,170

272,170

272,170

8.2%
Class A Units (95,709,910 units)(14)(16)
6/24/2014


81,146

173,197

5.3%



 


353,316

445,367

13.5%
Freedom Marine Solutions, LLC(24)
Energy Equipment & Services
Membership Interest (100%)(16)
10/1/2009


43,892

10,024

0.3%



 


43,892

10,024

0.3%
InterDent, Inc.(52)
Health Care Providers & Services
Senior Secured Term Loan A (8.03% (LIBOR + 5.50% with 0.75% LIBOR floor), due 9/5/2020)(13)
8/3/2012
77,994

77,994

77,994

2.4%
Senior Secured Term Loan B (16.00% PIK, due 9/5/2020)(46)
8/3/2012
107,397

107,397

107,397

3.2%
Senior Secured Term Loan A/B (2.78% (LIBOR + 0.25% with 0.75% LIBOR floor), due 9/5/2020)(13)
8/1/2018
14,000

14,000

14,000

0.4%
Senior Secured Term Loan C (18.00% PIK, in non-accrual status effective 10/1/2018, due 9/5/2020)
3/22/2018
37,447

35,766

21,967

0.7%
Senior Secured Term Loan D (1.00% PIK, in non-accrual status effective 10/1/2018, due 9/5/2020)
9/19/2018
5,014

5,001


—%
Warrants (to purchase 99,900 shares of Common Stock, expires 9/19/2030)(16)
2/23/2018




—%



 


240,158

221,358

6.7%

See notes to consolidated financial statements.
8


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS (CONTINUED)
(in thousands, except share data)




 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets



 







LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 



 







Control Investments (greater than 25.00% voting control)(47)
 
 
 
 
 



 







MITY, Inc.(25)
Commercial Services & Supplies
Senior Secured Note A (10.00% (LIBOR + 7.00% with 3.00% LIBOR floor), due 1/30/2020)(3)(11)
9/19/2013
$
26,250

$
26,250

$
26,250

0.8%
Senior Secured Note B (10.00% (LIBOR + 7.00% with 3.00% LIBOR floor) plus 10.00% PIK, due 1/30/2020)(3)(11)(46)
6/23/2014
25,498

25,498

25,498

0.8%
Subordinated Unsecured Note to Broda Enterprises ULC (10.00%, due 1/1/2028)(14)
9/19/2013
5,402

7,200

451

—%
Common Stock (42,053 shares)(16)
9/19/2013


6,849


—%



 


65,797

52,199

1.6%
National Property REIT Corp.(26)
Equity Real Estate Investment Trusts (REITs) / Online Lending
Senior Secured Term Loan A (6.50% (LIBOR + 3.50% with 3.00% LIBOR floor) plus 5.00% PIK, due 12/31/2023)(11)(46)
12/31/2018
433,553

433,553

433,553

13.1%
Senior Secured Term Loan B (5.00% (LIBOR + 2.00% with 3.00% LIBOR floor) plus 5.50% PIK, due 12/31/2023)(11)(46)
12/31/2018
205,000

205,000

205,000

6.2%
Common Stock (3,110,101 shares)
12/31/2013


163,836

283,430

8.6%
Residual Profit Interest (25% of Residual Profit)
12/31/2018



94,476

2.9%



 

802,389

1,016,459

30.8%
Nationwide Loan Company LLC(27)
Consumer Finance
Senior Subordinated Term Loan to Nationwide Acceptance LLC (10.00% plus 10.00% PIK, due 6/18/2019)(14)(46)
6/18/2014
17,854

17,854

17,854

0.5%
Class A Units (32,456,159 units)(14)(16)
1/31/2013


21,962

13,413

0.4%



 


39,816

31,267

0.9%
NMMB, Inc.(28)
Media
Senior Secured Note (14.00%, due 5/6/2021)(3)
5/6/2011
3,714

3,714

3,714

0.1%
Senior Secured Note to Armed Forces Communications, Inc. (14.00%, due 5/6/2021)(3)
6/12/2014
3,900

3,900

3,900

0.1%
Series A Preferred Stock (7,200 shares)(16)
12/12/2013


7,200

9,193

0.3%
Series B Preferred Stock (5,669 shares)(16)
12/12/2013


5,669

7,239

0.2%



 


20,483

24,046

0.7%
Pacific World Corporation(40)
Personal Products
Revolving Line of Credit – $26,000 Commitment (9.76% (LIBOR + 7.25% with 1.00% LIBOR floor), due 9/26/2020)(13)(15)
9/26/2014
20,825

20,825

20,825

0.6%
Senior Secured Term Loan A (7.76% (LIBOR + 5.25% with 1.00% LIBOR floor), in non-accrual status effective 10/24/2018, due 9/26/2020)(13)
12/31/2014
97,273

96,000

97,273

3.0%
Senior Secured Term Loan B (11.76% PIK (LIBOR + 9.25% with 1.00% LIBOR floor), in non-accrual status effective 5/21/2018, due 9/26/2020)(13)
12/31/2014
102,163

96,500

14,432

0.4%
Convertible Preferred Equity (100,000 shares)(16)
6/15/2018


15,000


—%
Common Stock (6,778,414 shares)(16)
9/29/2017




—%



 


228,325

132,530

4.0%
R-V Industries, Inc.
Machinery
Senior Subordinated Note (11.81% (LIBOR + 9.00% with 1.00% LIBOR floor), due 3/31/2022)(3)(11)
6/12/2013
28,622

28,622

24,670

0.7%
Common Stock (745,107 shares)(16)
6/26/2007


6,866


—%



 


35,488

24,670

0.7%

See notes to consolidated financial statements.
9


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS (CONTINUED)
(in thousands, except share data)




 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets



 







LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 



 







Control Investments (greater than 25.00% voting control)(47)
 
 
 
 
 



 







Universal Turbine Parts, LLC(54)
Trading Companies & Distributors
Senior Secured Term Loan A (8.56% (LIBOR + 5.75% with 1.00% LIBOR floor), due 7/22/2021)(11)
7/22/2016
$
31,038

$
31,038

$
31,038

0.9%
Senior Secured Term Loan B (14.56% PIK (LIBOR + 11.75% with 1.00% LIBOR floor), in non-accrual status effective 7/1/2018, due 7/22/2021)(11)
7/22/2016
34,861

32,500

5,794

0.2%
Common Stock (10,000 units)(16)
12/10/2018




—%
 
 
 
 
 
63,538

36,832

1.1%
USES Corp.(30)
Commercial Services & Supplies
Senior Secured Term Loan A (9.00% PIK, in non-accrual status effective 4/1/2016, due 7/22/2020)
3/31/2014
42,505

35,101

16,061

0.5%
Senior Secured Term Loan B (15.50% PIK, in non-accrual status effective 4/1/2016, due 7/22/2020)
3/31/2014
52,455

35,568


—%
Common Stock (268,962 shares)(16)
6/15/2016




—%



 


70,669

16,061

0.5%
Valley Electric Company, Inc.(31)
Construction & Engineering
Senior Secured Note to Valley Electric Co. of Mt. Vernon, Inc. (8.00% (LIBOR + 5.00% with 3.00% LIBOR floor) plus 2.50% PIK, due 12/31/2024)(3)(11)(46)
12/31/2012
10,430

10,430

10,430

0.3%
Senior Secured Note (8.00% plus 10.00% PIK, due 6/23/2024)(46)
6/24/2014
32,881

32,881

32,881

1.0%
Consolidated Revenue Interest (2.0%)(38)
6/22/2018



3,113

0.1%
Common Stock (50,000 shares)
12/31/2012


26,204

43,334

1.3%



 


69,515

89,758

2.7%
Wolf Energy, LLC(32)
Energy Equipment & Services
Membership Interest (100%)(16)
7/1/2014




—%
Membership Interest in Wolf Energy Services Company, LLC (100%)(16)
3/14/2017


3,896


—%
Net Profits Interest (8% of Equity Distributions)(4)(16)
4/15/2013



14

—%



 


3,896

14

—%
Total Control Investments (Level 3)
 
$
2,381,352

$
2,432,766

73.6%


See notes to consolidated financial statements.
10


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS (CONTINUED)
(in thousands, except share data)

 
 
 
 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliate Investments (5.00% to 24.99% voting control)(48)
 
 
 
 
 
 
 
 
 
 
 
 
 
Edmentum Ultimate Holdings, LLC(22)
Diversified Consumer Services
Second Lien Revolving Credit Facility to Edmentum, Inc. – $7,834 Commitment (5.00% PIK, due 12/9/2021)(15)(46)
6/9/2015
$
1,772

$
1,772

$
1,772

0.1%
Unsecured Senior PIK Note (8.50% PIK, due 12/9/2021)(46)
6/9/2015
7,850

7,850

7,850

0.2%
Unsecured Junior PIK Note (10.00% PIK, in non-accrual status effective 1/1/2017, due 12/9/2021)
6/9/2015
37,050

23,829

17,732

0.5%
Class A Units (370,964 units)(16)
6/9/2015


6,577


—%
 
 
 
 
 
40,028

27,354

0.8%
Nixon, Inc.(39)
Textiles, Apparel & Luxury Goods
Common Stock (857 units)(16)
5/12/2017




—%
 
 
 
 
 


—%
Targus Cayman HoldCo Limited(33)
Textiles, Apparel & Luxury Goods
Common Stock (7,383,395 shares)(16)
5/24/2011


9,878

21,537

0.7%
 
 
 
 
 
9,878

21,537

0.7%
United Sporting Companies, Inc.(18)
Distributors
Second Lien Term Loan (13.53% (LIBOR + 11.00% with 1.75% LIBOR floor) plus 2.00% PIK, in non-accrual status effective 4/1/2017, due 11/16/2019)(13)
9/28/2012
160,922

127,091

42,970

1.3%
Common Stock (218,941 shares)(16)
5/2/2017




—%
 
 
 
 
 
127,091

42,970

1.3%
Total Affiliate Investments (Level 3)
 
$
176,997

$
91,861

2.8%

See notes to consolidated financial statements.
11


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS (CONTINUED)
(in thousands, except share data)

 
 
 
 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
8TH Avenue Food & Provisions, Inc.
Food Products
Second Lien Term Loan (10.10% (LIBOR + 7.75%), due 10/1/2026)(3)(8)(13)
10/10/2018
$
25,000

$
24,817

$
24,805

0.8%
 
 
 
 
 
24,817

24,805

0.8%
ACE Cash Express, Inc.
Consumer Finance
Senior Secured Note (12.00%, due 12/15/2022)(8)(14)
12/15/2017
18,000

17,762

15,705

0.5%



 

17,762

15,705

0.5%
AgaMatrix, Inc.
Health Care Equipment & Supplies
Senior Secured Term Loan (11.81% (LIBOR + 9.00% with 1.25% LIBOR floor), due 9/29/2022)(3)(11)
9/29/2017
34,945

34,945

33,780

1.0%



 

34,945

33,780

1.0%
Apidos CLO IX
Structured Finance
Subordinated Notes (Residual Interest, current yield 0.00%, due 7/15/2023)(5)(14)(17)
7/11/2012
23,525

21

56

—%



 

21

56

—%
Apidos CLO XI
Structured Finance
Subordinated Notes (Residual Interest, current yield 8.84%, due 10/17/2028)(5)(14)
1/17/2013
40,500

33,007

26,403

0.8%



 

33,007

26,403

0.8%
Apidos CLO XII
Structured Finance
Subordinated Notes (Residual Interest, current yield 14.80%, due 4/15/2031)(5)(14)
4/18/2013
52,203

35,005

26,950

0.8%



 

35,005

26,950

0.8%
Apidos CLO XV
Structured Finance
Subordinated Notes (Residual Interest, current yield 13.73%, due 4/20/2031)(5)(14)
10/16/2013
48,515

36,642

26,101

0.8%



 

36,642

26,101

0.8%
Apidos CLO XXII
Structured Finance
Subordinated Notes (Residual Interest, current yield 10.81%, due 10/20/2027)(5)(6)(14)
10/14/2015
31,350

28,248

24,557

0.7%



 

28,248

24,557

0.7%
Ark-La-Tex Wireline Services, LLC
Energy Equipment & Services
Senior Secured Term Loan B (14.02% (LIBOR + 11.50% with 1.00% LIBOR floor), in non-accrual status effective 4/1/2016, due 4/8/2019)(13)
4/8/2014
25,595

1,145

770

—%



 

1,145

770

—%
Atlantis Health Care Group (Puerto Rico), Inc.
Health Care Providers & Services
Revolving Line of Credit – $7,000 Commitment (11.30% (LIBOR + 8.50% with 1.50% LIBOR floor), due 8/21/2019)(11)(15)
2/21/2013
4,000

4,000

3,911

0.1%
Senior Term Loan (11.30% (LIBOR + 8.50% with 1.50% LIBOR floor), due 2/21/2020)(3)(11)
2/21/2013
77,306

77,306

75,585

2.3%



 

81,306

79,496

2.4%
Autodata, Inc./ Autodata Solutions, Inc.(9)
Software
Second Lien Term Loan (9.77% (LIBOR + 7.25%), due 12/12/2025)(3)(8)(13)
12/14/2017
6,000

5,974

5,957

0.2%



 

5,974

5,957

0.2%
Barings CLO 2018-III (f/k/a Babson CLO Ltd. 2014-III)
Structured Finance
Subordinated Notes (Residual Interest, current yield 14.13%, due 7/20/2029)(5)(6)(14)
6/14/2018
83,098

51,236

42,011

1.3%



 

51,236

42,011

1.3%
Broder Bros., Co.
Textiles, Apparel & Luxury Goods
Senior Secured Note (11.31% (LIBOR + 8.50% with 1.25% LIBOR floor), due 12/02/2022)(3)(11)
12/4/2017
271,227

271,227

271,227

8.2%



 

271,227

271,227

8.2%
Brookside Mill CLO Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 8.73%, due 1/18/2028)(5)(14)
5/23/2013
36,300

18,783

13,580

0.4%



 


18,783

13,580

0.4%

See notes to consolidated financial statements.
12


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS (CONTINUED)
(in thousands, except share data)

 
 
 
 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
California Street CLO IX Ltd. (f/k/a Symphony CLO IX Ltd.)
Structured Finance
Preference Shares (Residual Interest, current yield 9.97%, due 10/16/2028)(5)(14)
5/8/2012
$
58,915

$
41,900

$
34,790

1.1%



 


41,900

34,790

1.1%
Candle-Lite Company, LLC
Household Products
Senior Secured Term Loan A (8.21% (LIBOR + 5.50% with 1.25% LIBOR floor), due 1/23/2023)(3)(11)
1/23/2018
12,313

12,313

12,313

0.4%
Senior Secured Term Loan B (12.21% (LIBOR + 9.50% with 1.25% LIBOR floor), due 1/23/2023)(3)(11)
1/23/2018
12,500

12,500

12,500

0.4%



 


24,813

24,813

0.8%
Capstone Logistics Acquisition, Inc.
Commercial Services & Supplies
Second Lien Term Loan (10.77% (LIBOR + 8.25% with 1.00% LIBOR floor), due 10/7/2022)(3)(8)(13)
10/7/2014
101,030

100,711

101,030

3.1%



 


100,711

101,030

3.1%
Carlyle Global Market Strategies CLO 2014-4-R, Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 22.13%, due 7/15/2030)(5)(6)(14)
6/29/2018
25,534

16,528

18,309

0.6%



 


16,528

18,309

0.6%
Carlyle Global Market Strategies CLO 2016-3, Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 17.17%, due 10/20/2029)(5)(6)(14)
9/13/2016
32,200

33,301

28,715

0.9%



 


33,301

28,715

0.9%
Carlyle C17 CLO Limited (f/k/a Cent CLO 17 Limited)
Structured Finance
Subordinated Notes (Residual Interest, current yield 19.48%, due 4/30/2031)(5)(14)
5/10/2018
24,870

14,130

12,251

0.4%



 


14,130

12,251

0.4%
CCS-CMGC Holdings, Inc.
Health Care Providers & Services
Second Lien Term Loan (11.52% (LIBOR + 9.00%), due 10/1/2026)(3)(8)(13)
10/12/2018
35,000

34,318

33,625

1.0%






34,318

33,625

1.0%
Cent CLO 21 Limited
Structured Finance
Subordinated Notes (Residual Interest, current yield 15.75%, due 7/27/2030)(5)(6)(14)
6/18/2014
49,552

37,238

30,591

0.9%



 


37,238

30,591

0.9%
Cent CLO 21 Limited
Structured Finance
Class E Notes (12.66% (LIBOR + 8.65%), due 7/27/2030)(6)(11)(14)(37)
7/27/2018
10,591

9,995

10,793

0.3%



 


9,995

10,793

0.3%
Columbia Cent CLO 27 Limited
Structured Finance
Subordinated Notes (Residual Interest, current yield 14.52%, due 10/25/2028)(5)(14)
1/15/2014
40,275

21,719

25,733

0.8%






21,719

25,733

0.8%
Columbia Cent CLO 27 Limited
Structured Finance
Class E Notes (11.86% (LIBOR + 8.29%), due 10/25/2028)(11)(14)(37)
10/25/2018
7,450

7,237

7,448

0.2%






7,237

7,448

0.2%
Centerfield Media Holding Company(35)
IT Services
Senior Secured Term Loan A (9.81% (LIBOR + 7.00% with 2.00% LIBOR floor), due 1/17/2022)(3)(11)
1/17/2017
74,842

74,842

74,842

2.3%
Senior Secured Term Loan B (15.31% (LIBOR + 12.50% with 2.00% LIBOR floor), due 1/17/2022)(11)
1/17/2017
78,100

78,100

78,100

2.4%



 


152,942

152,942

4.7%
CIFC Funding 2013-III-R, Ltd. (f/k/a CIFC Funding 2013-III, Ltd.)
Structured Finance
Subordinated Notes (Residual Interest, current yield 14.92%, due 4/24/2031)(5)(14)
4/5/2018
44,100

29,113

24,641

0.7%



 


29,113

24,641

0.7%

See notes to consolidated financial statements.
13


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS (CONTINUED)
(in thousands, except share data)

 
 
 
 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
CIFC Funding 2013-IV, Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 16.95%, due 4/28/2031)(5)(14)
11/14/2013
$
45,500

$
32,020

$
27,080

0.8%



 


32,020

27,080

0.8%
CIFC Funding 2014-IV-R, Ltd.
Structured Finance
Income Notes (Residual Interest, current yield 13.97%, due 10/17/2030)(5)(6)(14)
9/3/2014
44,467

30,057

23,952

0.7%



 


30,057

23,952

0.7%
CIFC Funding 2014-V, Ltd.
Structured Finance
Class F Notes (12.03% (LIBOR + 8.50%), due 10/17/2031)(6)(11)(14)(37)
9/27/2018
10,250

9,963

10,348

0.3%



 


9,963

10,348

0.3%
CIFC Funding 2016-I, Ltd.
Structured Finance
Income Notes (Residual Interest, current yield 13.60%, due 10/21/2028)(5)(6)(14)
12/21/2016
34,000

31,141

28,320

0.9%



 


31,141

28,320

0.9%
Cinedigm DC Holdings, LLC
Entertainment
Senior Secured Term Loan (11.81% (LIBOR + 9.00% with 2.00% LIBOR floor) plus 2.50% PIK, due 3/31/2021)(11)(46)
2/28/2013
26,405

26,355

26,405

0.8%



 


26,355

26,405

0.8%
Class Valuation, LLC (f/k/a Class Appraisal, LLC)
Real Estate Management & Development
Revolving Line of Credit – $1,500 Commitment (11.06% (LIBOR + 8.25% with 1.50% LIBOR floor), due 3/12/2020)(11)(15)
3/12/2018



—%
Senior Secured Term Loan (11.06% (LIBOR + 8.25% with 1.50% LIBOR floor), due 3/10/2023)(3)(11)
3/12/2018
41,370

41,370

41,370

1.3%



 


41,370

41,370

1.3%
Coverall North America, Inc.
Commercial Services & Supplies
Senior Secured Term Loan A (8.81% (LIBOR + 6.00% with 1.00% LIBOR floor), due 11/02/2020)(3)(11)
11/2/2015
13,975

13,975

13,975

0.4%
Senior Secured Term Loan B (13.81% (LIBOR + 11.00% with 1.00% LIBOR floor), due 11/02/2020)(3)(11)
11/2/2015
24,125

24,125

24,125

0.8%



 


38,100

38,100

1.2%
CP VI Bella Midco
IT Services
Second Lien Term Loan (9.27% (LIBOR + 6.75%, due 12/29/2025)(3)(8)(13)
12/28/2017
11,500

11,487

11,376

0.3%



 


11,487

11,376

0.3%
Digital Room, LLC
Commercial Services & Supplies
First Lien Term Loan (7.53% (LIBOR + 5.00% with 1.00% LIBOR floor), due 12/29/2023)(3)(8)(13)
2/9/2018
9,900

9,816

9,900

0.3%
Second Lien Term Loan (11.28% (LIBOR + 8.75% with 1.00% LIBOR floor), due 12/29/2024)(3)(8)(13)
2/8/2018
57,100

56,357

57,100

1.7%





66,173

67,000

2.0%
Dunn Paper, Inc.
Paper & Forest Products
Second Lien Term Loan (11.27% (LIBOR + 8.75% with 1.00% LIBOR floor), due 8/26/2023)(3)(8)(13)
10/7/2016
11,500

11,345

11,345

0.3%





11,345

11,345

0.3%
Dynatrace, LLC
Software
Second Lien Term Loan (9.52% (LIBOR + 7.00%), due 8/23/2026)(3)(8)(13)
8/23/2018
2,735

2,728

2,728

0.1%





2,728

2,728

0.1%
Easy Gardener Products, Inc.
Household Durables
Senior Secured Term Loan (12.81% (LIBOR + 10.00% with 0.25% LIBOR floor), due 09/30/2020)(3)(11)
10/2/2015
16,056

16,056

14,923

0.5%





16,056

14,923

0.5%

See notes to consolidated financial statements.
14


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS (CONTINUED)
(in thousands, except share data)

 
 
 
 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
Engine Group, Inc.(7)
Media
Senior Secured Term Loan (7.80% (LIBOR + 5.00% with 1.00% LIBOR floor), due 9/15/2022)(8)(11)
9/25/2017
$
4,650

$
4,650

$
4,583

0.1%
Second Lien Term Loan (11.80% (LIBOR + 9.00% with 1.00% LIBOR floor), due 9/15/2023)(3)(8)(11)
9/25/2017
35,000

35,000

30,000

0.9%





39,650

34,583

1.0%
EXC Holdings III Corp
Technology Hardware, Storage & Peripherals
Second Lien Term Loan (9.85% (LIBOR + 7.50% with 1.00% LIBOR floor), due 12/01/2025)(3)(8)(13)
12/5/2017
12,500

12,392

12,114

0.4%





12,392

12,114

0.4%
Galaxy XV CLO, Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 12.30%, due 10/15/2030)(5)(14)
3/14/2013
50,525

35,571

27,837

0.8%





35,571

27,837

0.8%
Galaxy XXVII CLO, Ltd. (f/k/a Galaxy XVI CLO, Ltd.)
Structured Finance
Subordinated Notes (Residual Interest, current yield 10.84%, due 5/16/2031)(5)(14)
4/17/2018
24,575

16,599

12,508

0.4%





16,599

12,508

0.4%
Galaxy XXVIII CLO, Ltd. (f/k/a Galaxy XVII CLO, Ltd.)
Structured Finance
Subordinated Notes (Residual Interest, current yield 11.87%, due 7/15/2031)(5)(6)(14)
6/27/2014
39,905

29,052

20,331

0.6%





29,052

20,331

0.6%
Galaxy XXVIII CLO, Ltd.
Structured Finance
Class F Junior Note (12.70% (LIBOR + 8.48%), due 7/15/2031)(6)(11)(14)(37)
7/16/2018
6,658

6,187

6,770

0.2%





6,187

6,770

0.2%
Global Tel*Link Corporation
Diversified Telecommunication Services
Second Lien Term Loan (10.96% (LIBOR + 8.25%), due 11/29/2026)(8)(11)
12/4/2018
25,000

24,567

24,567

0.7%





24,567

24,567

0.7%
GlobalTranz Enterprises, Inc.
Air Freight & Logistics
Second Lien Term Loan (10.52% (LIBOR + 8.00%), due 10/16/2026)(3)(8)(13)
10/25/2018
12,500

12,316

12,316

0.4%





12,316

12,316

0.4%
H.I.G. ECI Merger Sub, Inc.
IT Services
Senior Secured Term Loan A (8.31% (LIBOR + 5.50% with 1.50% LIBOR floor), due 5/31/2023)(3)(11)
5/31/2018
44,464

44,464

44,464

1.3%
Senior Secured Term Loan B (13.31% (LIBOR + 10.50% with 1.50% LIBOR floor), due 5/31/2023)(3)(11)
5/31/2018
29,900

29,900

29,387

0.9%





74,364

73,851

2.2%
Halcyon Loan Advisors Funding 2012-1 Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 0.00%, due 8/15/2023)(5)(14)(17)
8/21/2012
23,188

3,823

1,463

—%





3,823

1,463

—%
Halcyon Loan Advisors Funding 2013-1 Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 0.00%, due 4/15/2025)(5)(14)(17)
3/28/2013
40,400

20,715

14,281

0.4%





20,715

14,281

0.4%
Halcyon Loan Advisors Funding 2014-1 Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 0.00%, due 4/18/2026)(5)(14)(17)
3/6/2014
24,500

12,715

8,252

0.2%





12,715

8,252

0.2%

See notes to consolidated financial statements.
15


PROSPECT CAPITAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED SCHEDULES OF INVESTMENTS (CONTINUED)
(in thousands, except share data)

 
 
 
 
December 31, 2018 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(53)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
LEVEL 3 PORTFOLIO INVESTMENTS
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
Halcyon Loan Advisors Funding 2014-2 Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 0.00%, due 4/28/2025)(5)(6)(14)(17)
4/28/2014
$
41,164

$
22,238

$
12,941

0.4%





22,238

12,941

0.4%
Halcyon Loan Advisors Funding 2015-3 Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 18.31%, due 10/18/2027)(5)(6)(14)
9/3/2015
39,598

34,074

30,322

0.9%





34,074

30,322

0.9%
Halyard MD OPCO, LLC
Media
Revolving Line of Credit – $2,000 Commitment (10.81% (LIBOR + 8.00%), due 2/6/2020)(11)(15)
8/6/2018



—%
First Lien Term Loan (10.81% (LIBOR + 8.00% with 2.00% LIBOR floor), due 8/6/2023)(3)(11)
8/6/2018
11,850

11,850

11,850

0.4%
Delayed Draw Term Loan – $3,500 Commitment (10.81% (LIBOR + 8.00% with 2.00% LIBOR floor), due 8/6/2019)(11)(15)
8/6/2018



—%





11,850

11,850

0.4%
Harbortouch Payments, LLC
Commercial Services & Supplies
Escrow Receivable
3/31/2014



951

—%






951

—%
HarbourView CLO VII-R, Ltd. (f/k/a HarbourView CLO VII, Ltd.)
Structured Finance
Subordinated Notes (Residual Interest, current yield 21.84%, due 7/18/2031)(5)(6)(14)
6/10/2015
19,025

13,331

12,661

0.4%





13,331

12,661

0.4%
Help/Systems Holdings, Inc.
Software
Second Lien Term Loan (10.27% (LIBOR + 7.75%), due 3/27/2026)(3)(8)(13)
4/17/2018
11,293

11,248

11,112

0.3%





11,248

11,112

0.3%
Ingenio, LLC
Interactive Media & Services
Senior Secured Term Loan (10.25% (LIBOR + 7.50% with 1.25% LIBOR floor), due 9/26/2022)(3)(8)(11)
9/25/2017
9,647

9,647

9,647

0.3%



 

9,647

9,647

0.3%
Inpatient Care Management Company, LLC
Health Care Providers & Services
Senior Secured Term Loan (10.81% (LIBOR + 8.00% with 1.00% LIBOR floor), due 6/8/2021)(3)(11)
6/8/2016
20,443

20,443

20,252

0.6%



 

20,443

20,252

0.6%
Janus International Group, LLC
Building Products
Second Lien Term Loan (10.27% (LIBOR + 7.75% with 1.00% LIBOR floor), due 2/12/2026)(3)(8)(13)
2/22/2018
20,000

19,830

19,249

0.6%



 

19,830

19,249

0.6%
JD Power and Associates
Capital Markets
Second Lien Term Loan (11.02% (LIBOR + 8.50% with 1.00% LIBOR floor), due 9/7/2024)(3)(8)(13)
9/16/2016
21,673

21,534

21,673

0.7%



 

21,534

21,673

0.7%
Jefferson Mill CLO Ltd.
Structured Finance
Subordinated Notes (Residual Interest, current yield 13.26%, due 10/20/2031)(5)(6)(14)
7/28/2015
23,594

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