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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 September 30, 2019
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 every Interactive Data File required to be submitted 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 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, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer, “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ý
 
Accelerated filer o
Non-accelerated filer o
 
Smaller reporting company o
 
 
Emerging growth company o
 (Do not check if a smaller reporting company)
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes o    No ý
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbols
Name of each exchange on which registered
Common Stock, $0.001 par value
PSEC
NASDAQ Global Select Market
6.25% Notes due 2024, par value $25
PBB
New York Stock Exchange
6.25% Notes due 2028, par value $25
PBY
New York Stock Exchange
6.875% Notes due 2029, par value $25
PBC
New York Stock Exchange

As of November 5, 2019, there were 367,426,948 shares of the registrant’s common stock, $0.001 par value per share, outstanding.




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 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, 2019, 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)
 
September 30, 2019
 
June 30, 2019
 
 
 
(Unaudited)
 
(Audited)
Assets
 
 
 

Investments at fair value:
 

 
 

Control investments (amortized cost of $2,346,633 and $2,385,806, respectively)
$
2,397,730

 
$
2,475,924

Affiliate investments (amortized cost of $156,177 and $177,616, respectively)
73,263

 
76,682

Non-control/non-affiliate investments (amortized cost of $3,274,957 and $3,368,880, respectively)
2,979,567

 
3,100,947

Total investments at fair value (amortized cost of $5,777,767 and $5,932,302, respectively)
5,450,560

 
5,653,553

Cash
106,174

 
107,098

Receivables for:
 
 
 
Interest, net
12,526

 
26,504

Other
200

 
3,326

Deferred financing costs on Revolving Credit Facility (Note 4)
10,745

 
8,529

Due from broker
4,121

 

Prepaid expenses
772

 
1,053

Total Assets 
5,585,098

 
5,800,063

Liabilities 
 

 
 

Revolving Credit Facility (Notes 4 and 8)
108,000

 
167,000

Public Notes (less unamortized discount and debt issuance costs of $13,373 and $13,826,
  respectively) (Notes 6 and 8)
781,001

 
780,548

Convertible Notes (less unamortized debt issuance costs of $12,618 and $13,867, respectively)
(Notes 5 and 8)
694,701

 
739,997

Prospect Capital InterNotes® (less unamortized debt issuance costs of $12,561 and $12,349,
respectively) (Notes 7 and 8)
644,814

 
695,350

Due to Prospect Capital Management (Note 13)
46,228

 
46,525

Interest payable
22,364

 
34,104

Dividends payable
22,042

 
22,028

Accrued expenses
4,688

 
5,414

Due to Prospect Administration (Note 13)
511

 
1,885

Other liabilities
976

 
937

Total Liabilities 
2,325,325

 
2,493,788

Commitments and Contingencies (Note 3)


 
 
Net Assets 
$
3,259,773

 
$
3,306,275

 
 
 
 
Components of Net Assets 
 

 
 

Common stock, par value $0.001 per share (1,000,000,000 common shares authorized; 367,363,872 and 367,131,025 issued and outstanding, respectively) (Note 9)
$
367

 
$
367

Paid-in capital in excess of par (Note 9)
4,041,338

 
4,039,872

Total distributable earnings (loss)
(781,932
)
 
(733,964
)
Net Assets 
$
3,259,773

 
$
3,306,275

Net Asset Value Per Share (Note 16) 
$
8.87

 
$
9.01


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 September 30,
 
2019
 
2018
Investment Income
 
 
 
Interest income:
 
 
 
Control investments
$
50,866

 
$
56,454

Affiliate investments
239

 
227

Non-control/non-affiliate investments
61,950

 
68,609

Structured credit securities
32,901

 
34,152

Total interest income
145,956

 
159,442

Dividend income:
 
 
 
Control investments
3,800

 
14,665

Non-control/non-affiliate investments
454

 
262

Total dividend income
4,254

 
14,927

Other income:
 
 
 
Control investments
11,383

 
2,791

Non-control/non-affiliate investments
290

 
3,262

Total other income (Note 10)
11,673

 
6,053

Total Investment Income
161,883

 
180,422

Operating Expenses
 
 
 
Base management fee (Note 13)
28,463

 
29,957

Income incentive fee (Note 13)
17,765

 
21,290

Interest and credit facility expenses
38,898

 
37,908

Allocation of overhead from Prospect Administration (Note 13)
3,494

 
3,365

Audit, compliance and tax related fees
375

 
393

Directors’ fees
113

 
79

Other general and administrative expenses
1,715

 
2,271

Total Operating Expenses
90,823

 
95,263

Net Investment Income
71,060

 
85,159

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

 
1

Non-control/non-affiliate investments
(2,198
)
 
1,040

Net realized (losses) gains
(2,198
)
 
1,041

Net change in unrealized (losses) gains
 
 
 
Control investments
(39,021
)
 
51,918

Affiliate investments
18,020

 
(13,755
)
Non-control/non-affiliate investments
(27,458
)
 
(37,114
)
Net change in unrealized (losses) gains
(48,459
)
 
1,049

Net Realized and Net Change in Unrealized (Losses) Gains from Investments
(50,657
)
 
2,090

Net realized losses on extinguishment of debt
(2,338
)
 
(3,454
)
Net Increase in Net Assets Resulting from Operations
$
18,065

 
$
83,795

Net increase in net assets resulting from operations per share
$
0.05

 
$
0.23

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

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)

 
 
Common Stock
 
 
 
 
Three Months Ended September 30, 2018 (Unaudited)
 
Shares
 
Par
 
Paid-in capital in excess of par
 
Distributable earnings (loss)(1)
 
Total Net Assets
Balance as of June 30, 2018
 
364,409,938


$
364


$
4,021,541


$
(614,858
)

$
3,407,047

Net Increase in Net Assets resulting from Operations:
 














Net investment income
 








85,159


85,159

Net realized losses
 








(2,413
)

(2,413
)
Net change in unrealized gain
 








1,049


1,049

Distributions to Shareholders
 













Distributions from earnings
 








(65,694
)

(65,694
)
Shares issued through reinvestment of dividends
 
815,201


1


5,795





5,796

Tax reclassifications of net assets (Note 12)
 






(31
)

31



Total increase (decrease) for the three months ended September 30, 2018
 
815,201


1


5,764


18,132


23,897

Balance as of September 30, 2018
 
365,225,139


$
365


$
4,027,305


$
(596,726
)

$
3,430,944


 
 
Common Stock
 
 
 
 
Three Months Ended September 30, 2019 (Unaudited)
 
Shares
 
Par
 
Paid-in capital in excess of par
 
Distributable earnings (loss)
 
Total Net Assets
Balance as of June 30, 2019

367,131,025


$
367


$
4,039,872


$
(733,964
)

$
3,306,275

Net Increase in Net Assets resulting from Operations:















Net investment income









71,060


71,060

Net realized losses









(4,536
)

(4,536
)
Net change in unrealized losses









(48,459
)

(48,459
)
Distributions to Shareholders














Distributions from earnings









(66,111
)

(66,111
)
Shares issued through reinvestment of dividends

232,847




1,544





1,544

Tax reclassifications of net assets (Note 12)







(78
)

78



Total increase (decrease) for the three months ended September 30, 2019

232,847




1,466


(47,968
)

(46,502
)
Balance as of September 30, 2019

367,363,872


$
367


$
4,041,338


$
(781,932
)

$
3,259,773


(1) See Note 2. Significant Accounting Policies and Recent Accounting Updates.


See notes to consolidated financial statements.
6


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

 
Three Months Ended September 30,
 
2019
 
2018
Operating Activities
 
 
 
Net increase in net assets resulting from operations
$
18,065

 
$
83,795

Net realized losses on extinguishment of debt
2,338

 
3,454

Net realized losses (gains) on investments
2,198

 
(1,041
)
Net change in net unrealized losses (gains) on investments
48,459

 
(1,049
)
Amortization of discounts (accretion of premiums), net
1,704

 
(7,839
)
Accretion of discount on Public Notes (Note 6)
254

 
131

Amortization of deferred financing costs
2,241

 
2,716

Payment-in-kind interest
(14,498
)
 
(9,325
)
Structuring fees
(612
)
 
(2,854
)
Change in operating assets and liabilities:
 
 
 
Payments for purchases of investments
(79,430
)
 
(242,463
)
Proceeds from sale of investments and collection of investment principal
245,173

 
55,166

Decrease in due to broker

 
(6,159
)
(Decrease) increase in due to Prospect Capital Management
(297
)
 
2,282

Decrease (increase) in interest receivable, net
13,978

 
(3,733
)
Decrease in interest payable
(11,740
)
 
(6,376
)
Decrease in accrued expenses
(726
)
 
(891
)
Increase in due from broker
(4,121
)
 
(99,805
)
Increase in other liabilities
39

 
629

Decrease in other receivables
3,126

 
508

Increase in due from affiliate

 
(5,800
)
Decrease in prepaid expenses
281

 
36

(Decrease) Increase in due to Prospect Administration
(1,374
)
 
184

Net Cash Provided by (Used in) Operating Activities
225,058

 
(238,434
)
Financing Activities
 
 
 
Borrowings under Revolving Credit Facility (Note 4)
211,000

 
436,000

Principal payments under Revolving Credit Facility (Note 4)
(270,000
)
 
(69,000
)
Issuances of Public Notes, net of original issue discount (Note 6)

 
125,644

Redemptions of Public Notes (Note 6)

 
(153,536
)
Redemptions of Convertible Notes, net (Note 5)
(47,016
)
 

Issuances of Prospect Capital InterNotes® (Note 7)
95,135

 
39,757

Redemptions of Prospect Capital InterNotes®, net (Note 7)
(145,459
)
 
(31,794
)
Financing costs paid and deferred
(5,088
)
 
(12,494
)
Dividends paid
(64,554
)
 
(59,849
)
Net Cash (Used in) Provided by Financing Activities
(225,982
)
 
274,728

Net (Decrease) Increase in Cash
(924
)
 
36,294

Cash at beginning of period
107,098

 
83,758

Cash at End of Period
$
106,174

 
$
120,052

Supplemental Disclosures
 
 
 
Cash paid for interest
$
48,143

 
$
41,437

Non-Cash Financing Activities
 
 
 
Value of shares issued through reinvestment of dividends
$
1,544

 
$
5,796

Cost basis of investments written off as worthless
$
2,420

 
$


See notes to consolidated financial statements.
7


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






September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
Control Investments (greater than 25.00% voting control)(49)
 
 
 
 
 
 
 
 
 
 
 
 
 
CP Energy Services Inc.(20)
Energy Equipment & Services
Senior Secured Term Loan (13.11% (LIBOR + 11.00% with 1.00% LIBOR floor), due 12/29/2022)(11)
10/1/2017
$
35,048

$
35,048

$
35,048

1.1%
Senior Secured Term Loan A to Spartan Energy Services, Inc. (10.04% (LIBOR + 8.00% with 1.00% LIBOR floor), due 12/31/2022)(13)
10/20/2014
13,156

13,156

13,156

0.4%
Senior Secured Term Loan B to Spartan Energy Services, Inc. (16.04% PIK (LIBOR + 14.00% with 1.00% LIBOR floor), due 12/31/2022)(13)(46)
10/20/2014
22,440

22,440

22,440

0.7%
Series B Convertible Preferred Stock (16.00%, 790 shares)(16)
10/30/2015


63,225

56,293

1.7%
Common Stock (102,924 shares)(16)
8/2/2013


81,203

2,816

0.1%






215,072

129,753

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)
12/28/2012
56,862

53,616

56,862

1.8%
Class A Units (14,867,312 units)(14)(16)
12/28/2012


19,331

21,219

0.7%
Net Revenues Interest (25% of Net Revenues)(14)(16)
1/28/2015




—%






72,947

78,081

2.5%
Echelon Transportation, LLC
Aerospace & Defense
Senior Secured Term Loan (11.99% (LIBOR + 9.75% with 2.00% LIBOR floor) plus 2.25% PIK, due 3/31/2022)(13)(46)
3/31/2014
39,917

39,917

39,917

1.2%
Senior Secured Term Loan (11.24% (LIBOR + 9.00% with 2.00% LIBOR floor) plus 1.00% PIK, due 12/7/2024)(13)(46)
12/9/2016
19,198

19,198

19,198

0.6%
Membership Interest (100%)(16)
3/31/2014


22,738

31,279

1.0%






81,853

90,394

2.8%
First Tower Finance Company LLC(23)
Consumer Finance
Subordinated Term Loan to First Tower, LLC (10.00% plus 10.50% PIK, due 6/24/2024)(14)(46)
6/24/2014
278,043

278,043

278,043

8.5%
Class A Units (95,709,910 units)(14)(16)
6/14/2012


81,146

218,976

6.7%






359,189

497,019

15.2%
Freedom Marine Solutions, LLC(24)
Energy Equipment & Services
Membership Interest (100%)(16)
11/9/2006


43,892

14,920

0.5%






43,892

14,920

0.5%
InterDent, Inc.(29)
Health Care Providers & Services
Senior Secured Term Loan A/B (7.10% (LIBOR + 5.05% 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 A (7.55% (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 (10.00% PIK, due 9/5/2020)(46)
8/3/2012
119,143

119,143

114,888

3.5%
Senior Secured Term Loan C (18.00% PIK, in non-accrual status effective 10/1/2018, due 9/5/2020)
3/22/2018
42,794

35,766


—%
Senior Secured Term Loan D (1.00% PIK, in non-accrual status effective 10/1/2018, due 9/5/2020)
9/19/2018
5,052

5,001


—%
Common Stock (99,900 shares)(16)
5/3/2019


1


—%






251,905

206,882

6.3%

See notes to consolidated financial statements.
8


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





September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
Control Investments (greater than 25.00% voting control)(49)
 
 
 
 
 
 
 
 
 
 
 
 
 
KRPR, LLC
Diversified Consumer Services
Membership Interest (100%)(16)
8/26/2019


$
2,350

$
4,502

0.1%






2,350

4,502

0.1%
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 6/30/2020)(3)(11)(46)
9/19/2013
30,599

30,599

21,114

0.7%
Subordinated Unsecured Note to Broda Enterprises ULC (10.00%, due 1/1/2028)(14)
9/19/2013
5,568

6,772


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


6,849


—%






70,470

47,364

1.5%
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

13.3%
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
111,317

111,317

111,317

3.4%
Residual Profit Interest (8.33% of Residual Profit)
12/31/2018



35,162

1.1%
Common Stock (3,110,101 shares)(52)
12/31/2013


163,836

388,950

11.9%






708,706

968,982

29.7%
Nationwide Loan Company LLC(27)
Consumer Finance
Senior Subordinated Term Loan to Nationwide Acceptance LLC (10.00% plus 10.00% PIK, due 6/18/2020)(14)(46)
6/18/2014
18,932

18,932

18,932

0.6%
Class A Units (32,456,159 units)(14)
1/31/2013


21,962

16,976

0.5%






40,894

35,908

1.1%
NMMB, Inc.(28)
Media
Senior Secured Note (14.00%, due 5/6/2021)(3)
5/6/2011
1,614

1,614

1,614

—%
Series A Preferred Stock (7,200 shares)(16)
5/6/2011


7,200

12,539

0.4%
Series B Preferred Stock (5,669 shares)(16)
5/6/2011


5,669

9,872

0.3%






14,483

24,025

0.7%
Pacific World Corporation(40)
Personal Products
Revolving Line of Credit – $26,000 Commitment (9.30% (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 (7.30% PIK (LIBOR + 5.25% with 1.00% LIBOR floor), in non-accrual status effective 10/24/2018, due 9/26/2020)(13)
12/31/2014
103,182

96,000

79,620

2.5%
Senior Secured Term Loan B (11.30% 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
113,457

96,500


—%
Convertible Preferred Equity (179,998 shares)(16)
6/15/2018


27,000


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




—%






240,325

100,445

3.1%
R-V Industries, Inc.
Machinery
Senior Subordinated Note (11.11% (LIBOR + 9.00% with 1.00% LIBOR floor), due 3/31/2022)(3)(11)
6/12/2013
28,622

28,622

28,622

0.9%
Common Stock (745,107 shares)(16)
6/26/2007


6,866

6,801

0.2%






35,488

35,423

1.1%

See notes to consolidated financial statements.
9


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





September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
Control Investments (greater than 25.00% voting control)(49)
 
 
 
 
 
 
 
 
 
 
 
 
 
Universal Turbine Parts, LLC(34)
Trading Companies & Distributors
Delayed Draw Term Loan – $5,000 Commitment (10.25% (LIBOR + 7.75% with 2.50% LIBOR floor), due 9/30/2020)(13)(15)
2/28/2019
$

$

$

—%
Senior Secured Term Loan A (7.86% (LIBOR + 5.75% with 1.00% LIBOR floor), due 7/22/2021)(11)
7/22/2016
30,550

30,550

26,850

0.8%
Senior Secured Term Loan B (13.86% 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
38,789

32,500


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




—%






63,050

26,850

0.8%
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
47,007

36,601

15,090

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
58,952

35,568


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




—%






72,169

15,090

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 (10.00% plus 10.00% PIK, due 6/23/2024)(46)
6/24/2014
33,301

33,301

33,301

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



2,921

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


26,204

75,422

2.3%






69,935

122,074

3.7%
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


3,905


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



18

—%






3,905

18

—%
Total Control Investments
 
$
2,346,633

$
2,397,730

73.6%


See notes to consolidated financial statements.
10


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

 
 
 
 
September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
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
$
6,070

$
6,070

$
6,070

0.2%
Unsecured Senior PIK Note (8.50% PIK, due 12/9/2021)(46)
6/9/2015
8,367

8,367

8,367

0.3%
Unsecured Junior PIK Note (10.00% PIK, in non-accrual status effective 1/1/2017, due 12/9/2021)
6/9/2015
39,931

23,829

34,155

1.0%
Class A Units (370,964 units)(16)
6/9/2015


6,577

3,686

0.1%
 
 
 
 
 
44,843

52,278

1.6%
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)
2/12/2016


3,771

16,989

0.5%
 
 
 
 
 
3,771

16,989

0.5%
United Sporting Companies, Inc.(18)
Distributors
Second Lien Term Loan (13.05% (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
148,524

107,563

3,996

0.1%
Common Stock (218,941 shares)(16)
5/2/2017




—%
 
 
 
 
 
107,563

3,996

0.1%
Total Affiliate Investments
 
$
156,177

$
73,263

2.2%

See notes to consolidated financial statements.
11


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





September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
8th Avenue Food & Provisions, Inc.
Food Products
Second Lien Term Loan (9.79% (LIBOR + 7.75%), due 10/1/2026)(3)(8)(13)
10/10/2018
$
25,000

$
24,835

$
24,835

0.8%





24,835

24,835

0.8%
ACE Cash Express, Inc.
Consumer Finance
Senior Secured Note (12.00%, due 12/15/2022)(8)(10)(14)
12/15/2017
25,000

24,190

24,563

0.8%





24,190

24,563

0.8%
AmeriLife Group, LLC
Insurance
Second Lien Term Loan (11.04% (LIBOR + 9.00%), due 6/11/2027)(3)(8)(13)
6/24/2019
10,000

10,000

10,000

0.3%





10,000

10,000

0.3%
Apidos CLO XI
Structured Finance
Rated Secured Structured Note - Class FRR (11.75% (LIBOR + 9.45%), due 10/17/2030)(11)(14)(37)
9/12/2019
5,950

5,532

5,718

0.2%





5,532

5,718

0.2%
Apidos CLO XI
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 12.47%, due 10/17/2030)(5)(14)
1/17/2013
40,500

33,607

28,167

0.9%





33,607

28,167

0.9%
Apidos CLO XII
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 16.61%, due 4/15/2031)(5)(14)
4/18/2013
52,203

36,780

30,888

0.9%





36,780

30,888

0.9%
Apidos CLO XV
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 15.60%, due 4/21/2031)(5)(14)
10/16/2013
48,515

38,286

29,823

0.9%





38,286

29,823

0.9%
Apidos CLO XXII
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 9.55%, due 10/20/2027)(5)(6)(14)
10/14/2015
31,350

28,501

24,479

0.7%





28,501

24,479

0.7%
Ark-La-Tex Wireline Services, LLC
Energy Equipment & Services
Escrow Receivable
4/8/2014




—%







—%
Atlantis Health Care Group (Puerto Rico), Inc.
Health Care Providers & Services
Revolving Line of Credit – $6,000 Commitment (10.85% (LIBOR + 8.75% with 2.00% LIBOR floor), due 2/21/2020)(11)(15)
2/21/2013
4,000

4,000

3,910

0.1%
Senior Secured Term Loan (10.85% (LIBOR + 8.75% with 2.00% LIBOR floor), due 2/21/2020)(3)(11)
2/21/2013
74,123

74,123

72,464

2.2%





78,123

76,374

2.3%
Barings CLO 2018-III
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 9.94%, due 7/20/2029)(5)(6)(14)
11/18/2014
83,098

50,555

35,282

1.1%





50,555

35,282

1.1%
Broder Bros., Co.
Textiles, Apparel & Luxury Goods
Senior Secured Note (10.60% (LIBOR + 8.50% with 1.25% LIBOR floor), due 12/02/2022)(3)(8)(11)
12/4/2017
173,761

173,761

173,761

5.3%





173,761

173,761

5.3%
Brookside Mill CLO Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 8.72%, due 1/17/2028)(5)(14)
5/23/2013
36,300

18,423

13,688

0.4%





18,423

13,688

0.4%
California Street CLO IX Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 10.76%, due 7/16/2032)(5)(14)
5/8/2012
58,915

41,519

32,662

1.0%





41,519

32,662

1.0%
Candle-Lite Company, LLC
Household Products
Senior Secured Term Loan A (7.64% (LIBOR + 5.50% with 1.25% LIBOR floor), due 1/23/2023)(3)(11)
1/23/2018
12,125

12,125

12,125

0.4%
Senior Secured Term Loan B (11.64% (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%






24,625

24,625

0.8%

See notes to consolidated financial statements.
12


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





September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
Capstone Logistics Acquisition, Inc.
Commercial Services & Supplies
Second Lien Term Loan (10.29% (LIBOR + 8.25% with 1.00% LIBOR floor), due 10/7/2022)(3)(8)(13)
10/7/2014
$
98,982

$
98,727

$
98,982

3.0%





98,727

98,982

3.0%
Carlyle C17 CLO Limited
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 21.05%, due 4/30/2031)(5)(14)
2/21/2013
24,870

14,916

12,968

0.4%





14,916

12,968

0.4%
Carlyle Global Market Strategies CLO 2014-4-R, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 21.37%, due 7/15/2030)(5)(6)(14)
4/12/2017
25,534

17,527

17,696

0.5%






17,527

17,696

0.5%
Carlyle Global Market Strategies CLO 2016-3, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 14.11%, due 10/20/2029)(5)(6)(14)
9/13/2016
32,200

33,655

26,976

0.8%






33,655

26,976

0.8%
CCPI Inc.(19)
Electronic Equipment, Instruments & Components
Escrow Receivable
2/28/2019



2,275

0.1%







2,275

0.1%
CCS-CMGC Holdings, Inc.
Health Care Providers & Services
First Lien Term Loan (7.54% (LIBOR + 5.50%), due 10/1/2025)(3)(8)(13)
5/23/2019
4,975

4,857

4,857

0.1%
Second Lien Term Loan (11.04% (LIBOR + 9.00%), due 10/1/2026)(3)(8)(13)
10/12/2018
37,000

36,377

36,377

1.1%






41,234

41,234

1.2%
Cent CLO 21 Limited
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 14.10%, due 7/27/2030)(5)(6)(14)
6/18/2014
49,552

38,691

29,672

0.9%





38,691

29,672

0.9%
Cent CLO 21 Limited
Structured Finance
Rated Secured Structured Note - Class E (10.91% (LIBOR + 8.65%), due 7/27/2030)(6)(11)(14)(37)
7/27/2018
10,591

9,990

10,474

0.3%





9,990

10,474

0.3%
Centerfield Media Holding Company(35)
IT Services
Senior Secured Term Loan A (9.11% (LIBOR + 7.00% with 2.00% LIBOR floor), due 1/17/2022)(3)(11)
1/17/2017
73,083

73,083

73,083

2.2%
Senior Secured Term Loan B (14.61% (LIBOR + 12.50% with 2.00% LIBOR floor), due 1/17/2022)(11)
1/17/2017
78,100

78,100

78,100

2.4%






151,183

151,183

4.6%
CIFC Funding 2013-III-R, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 13.76%, due 4/24/2031)(5)(14)
9/12/2013
44,100

29,850

24,556

0.8%





29,850

24,556

0.8%
CIFC Funding 2013-IV, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 15.36%, due 4/28/2031)(5)(6)(14)
11/14/2013
45,500

32,771

28,876

0.9%





32,771

28,876

0.9%
CIFC Funding 2014-IV-R, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 13.90%, due 10/17/2030)(5)(6)(14)
9/3/2014
44,467

31,028

25,921

0.8%





31,028

25,921

0.8%
CIFC Funding 2014-V, Ltd.
Structured Finance
Rated Secured Structured Note - Class F (10.80% (LIBOR + 8.50%), due 10/17/2031)(6)(11)(14)(37)
9/27/2018
10,250

9,944

10,107

0.3%





9,944

10,107

0.3%
CIFC Funding 2016-I, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 12.92%, due 10/21/2031)(5)(6)(14)
12/21/2016
34,000

30,145

28,518

0.9%





30,145

28,518

0.9%

See notes to consolidated financial statements.
13


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





September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
Cinedigm DC Holdings, LLC
Entertainment
Senior Secured Term Loan (11.11% (LIBOR + 9.00% with 2.00% LIBOR floor) plus 2.50% PIK, due 3/31/2021)(11)(46)
2/28/2013
$
14,114

$
14,064

$
14,114

0.4%






14,064

14,114

0.4%
Class Valuation, LLC
Real Estate Management & Development
Revolving Line of Credit – $1,500 Commitment (10.36% (LIBOR + 8.25% with 1.50% LIBOR floor), due 3/12/2020)(11)(15)
3/12/2018



—%
Senior Secured Term Loan (10.36% (LIBOR + 8.25% with 1.50% LIBOR floor), due 3/10/2023)(3)(11)
3/12/2018
38,642

38,642

38,642

1.2%






38,642

38,642

1.2%
Columbia Cent CLO 27 Limited
Structured Finance
Rated Secured Structured Note - Class E (10.57% (LIBOR + 8.29%), due 10/25/2028)(11)(14)(37)
10/25/2018
7,450

7,227

7,419

0.2%






7,227

7,419

0.2%
Columbia Cent CLO 27 Limited
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 16.37%, due 10/25/2028)(5)(14)
1/15/2014
40,275

22,398

23,745

0.7%






22,398

23,745

0.7%
Coverall North America, Inc.
Commercial Services & Supplies
Senior Secured Term Loan A (8.11% (LIBOR + 6.00% with 1.00% LIBOR floor), due 11/02/2020)(3)(11)
11/2/2015
6,662

6,662

6,662

0.2%
Senior Secured Term Loan B (13.11% (LIBOR + 11.00% with 1.00% LIBOR floor), due 11/02/2020)(3)(11)
11/2/2015
23,188

23,188

23,188

0.7%





29,850

29,850

0.9%
CP VI Bella Midco
IT Services
Second Lien Term Loan (8.79% (LIBOR + 6.75%), due 12/29/2025)(3)(8)(13)
2/26/2018
15,750

15,705

15,750

0.5%





15,705

15,750

0.5%
Digital Room, LLC
Commercial Services & Supplies
First Lien Term Loan (7.04% (LIBOR + 5.00%), due 5/21/2026)(3)(8)(13)
5/29/2019
9,975

9,836

9,836

0.3%
Second Lien Term Loan (11.04% (LIBOR + 9.00%), due 5/21/2027)(3)(8)(13)
5/30/2019
70,000

70,000

70,000

2.1%





79,836

79,836

2.4%
Dunn Paper, Inc.
Paper & Forest Products
Second Lien Term Loan (10.79% (LIBOR + 8.75% with 1.00% LIBOR floor), due 8/26/2023)(3)(8)(13)
10/7/2016
11,500

11,370

11,500

0.4%





11,370

11,500

0.4%
Easy Gardener Products, Inc.
Household Durables
Senior Secured Term Loan (12.11% (LIBOR + 10.00% with 0.25% LIBOR floor), due 09/30/2020)(3)(11)
10/2/2015
15,719

15,719

8,901

0.3%





15,719

8,901

0.3%
Engine Group, Inc.(7)
Media
Senior Secured Term Loan (7.10% (LIBOR + 5.00% with 1.00% LIBOR floor), due 9/15/2022)(8)(11)
9/25/2017
4,277

4,277

4,164

0.1%
Second Lien Term Loan (11.10% (LIBOR + 9.00% with 1.00% LIBOR floor), due 9/15/2023)(3)(8)(11)
9/25/2017
35,000

35,000

32,156

1.0%





39,277

36,320

1.1%
EXC Holdings III Corp
Technology Hardware, Storage & Peripherals
Second Lien Term Loan (9.83% (LIBOR + 7.50% with 1.00% LIBOR floor), due 12/01/2025)(3)(8)(11)
12/5/2017
12,500

12,404

12,404

0.4%





12,404

12,404

0.4%
Galaxy XV CLO, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 11.19%, due 10/15/2030)(5)(14)
3/14/2013
50,525

36,116

26,911

0.8%





36,116

26,911

0.8%

See notes to consolidated financial statements.
14


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





September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
Galaxy XXVII CLO, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 9.12%, due 5/16/2031)(5)(14)
11/5/2013
$
24,575

$
16,694

$
11,835

0.4%





16,694

11,835

0.4%
Galaxy XXVIII CLO, Ltd.
Structured Finance
Rated Secured Structured Note - Class F (10.78% (LIBOR + 8.48%), due 7/15/2031)(6)(11)(14)(37)
7/16/2018
6,658

6,181

6,566

0.2%





6,181

6,566

0.2%
Galaxy XXVIII CLO, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 8.85%, due 7/15/2031)(5)(6)(14)
6/27/2014
39,905

28,926

18,715

0.6%





28,926

18,715

0.6%
Global Tel*Link Corporation
Diversified Telecommunication Services
First Lien Term Loan (6.29% (LIBOR + 4.25%), due 11/29/2025)(3)(8)(13)
8/20/2019
9,975

9,571

9,571

0.3%
Second Lien Term Loan (10.29% (LIBOR + 8.25%), due 11/29/2026)(3)(8)(13)
12/4/2018
40,170

39,303

39,303

1.2%





48,874

48,874

1.5%
GlobalTranz Enterprises, Inc.
Air Freight & Logistics
Second Lien Term Loan (10.31% (LIBOR + 8.25%), due 5/15/2027)(3)(8)(13)
5/15/2019
12,500

12,500

12,439

0.4%





12,500

12,439

0.4%
H.I.G. ECI Merger Sub, Inc.
IT Services
Senior Secured Term Loan A (7.61% (LIBOR + 5.50% with 1.50% LIBOR floor), due 5/31/2023)(3)(11)
5/31/2018
44,128

44,128

44,128

1.4%
Senior Secured Term Loan B (12.61% (LIBOR + 10.50% with 1.50% LIBOR floor), due 5/31/2023)(3)(11)
5/31/2018
29,900

29,900

29,293

0.9%





74,028

73,421

2.3%
Halcyon Loan Advisors Funding 2012-1 Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 0.00%, due 8/15/2023)(5)(14)(17)
8/15/2012
23,188

3,771


—%





3,771


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

19,984

2,571

0.1%





19,984

2,571

0.1%
Halcyon Loan Advisors Funding 2014-1 Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 0.00%, due 4/18/2026)(5)(14)(17)
3/6/2014
24,500

11,822

2,510

0.1%





11,822

2,510

0.1%
Halcyon Loan Advisors Funding 2014-2 Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 0.00%, due 4/28/2025)(5)(6)(14)(17)
4/28/2014
41,164

21,322

908

—%





21,322

908

—%
Halcyon Loan Advisors Funding 2015-3 Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 11.46%, due 10/18/2027)(5)(6)(14)
9/3/2015
39,598

31,765

26,171

0.8%





31,765

26,171

0.8%
Halyard MD OpCo, LLC
Media
Revolving Line of Credit – $2,000 Commitment (10.11% (LIBOR + 8.00%), due 2/6/2020)(11)(15)
8/6/2018



—%
First Lien Term Loan (10.11% (LIBOR + 8.00% with 2.00% LIBOR floor), due 8/6/2023)(3)(11)
8/6/2018
11,400

11,400

11,400

0.3%





11,400

11,400

0.3%
HarbourView CLO VII-R, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 14.10%, due 7/18/2031)(5)(6)(14)
6/10/2015
19,025

13,306

11,708

0.4%





13,306

11,708

0.4%
Help/Systems Holdings, Inc.
Software
Second Lien Term Loan (9.79% (LIBOR + 7.75%), due 3/27/2026)(3)(8)(13)
4/17/2018
12,499

12,458

12,458

0.4%





12,458

12,458

0.4%

See notes to consolidated financial statements.
15


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





September 30, 2019 (Unaudited)
Portfolio Company
Industry
Investments(1)(44)
Acquisition Date(51)
Principal Value
Amortized Cost
Fair
Value(2)
% of Net Assets
 
 
 
 
 
 
 
 
Non-Control/Non-Affiliate Investments (less than 5.00% voting control)
 
 
 
 
 
 
 
 
 
 
 
 
 
Inpatient Care Management Company, LLC
Health Care Providers & Services
Senior Secured Term Loan (10.11% (LIBOR + 8.00% with 1.00% LIBOR floor), due 6/8/2021)(3)(11)
6/8/2016
$
17,635

$
17,635

$
17,337

0.5%





17,635

17,337

0.5%
JD Power and Associates
Capital Markets
Second Lien Term Loan (10.54% (LIBOR + 8.50% with 1.00% LIBOR floor), due 9/7/2024)(3)(8)(13)
9/16/2016
25,222

25,090

25,222

0.8%





25,090

25,222

0.8%
Jefferson Mill CLO Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 11.71%, due 10/20/2031)(5)(6)(14)
7/28/2015
23,594

18,653

12,389

0.4%





18,653

12,389

0.4%
K&N Parent, Inc.
Auto Components
Second Lien Term Loan (10.79% (LIBOR + 8.75% with 1.00% LIBOR floor), due 10/21/2024)(3)(8)(13)
10/28/2016
25,887

25,471

25,471

0.8%





25,471

25,471

0.8%
Keystone Acquisition Corp.(36)
Health Care Providers & Services
Second Lien Term Loan (11.35% (LIBOR + 9.25% with 1.00% LIBOR floor), due 5/1/2025)(3)(8)(11)
5/18/2017
50,000

50,000

50,000

1.5%





50,000

50,000

1.5%
LCM XIV Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 13.17%, due 7/21/2031)(5)(14)
7/11/2013
49,934

28,194

19,850

0.6%





28,194

19,850

0.6%
Maverick Healthcare Equity, LLC
Health Care Providers & Services
Preferred Units (10.00%, 1,250,000 units)(16)
10/31/2007




—%
Class A Common Units (1,250,000 units)(16)
10/31/2007




—%







—%
Medusind Acquisition, Inc.(9)
Health Care Providers & Services
First Lien Term Loan (10.38% (LIBOR + 8.25% with 1.00% LIBOR floor), due 4/8/2024)(8)(11)
9/30/2019
25,000

24,625

24,625

0.8%





24,625

24,625

0.8%
Mountain View CLO 2013-I Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 10.62%, due 10/15/2030)(5)(14)
5/1/2013
43,650

29,085

20,564

0.6%





29,085

20,564

0.6%
Mountain View CLO IX Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 19.63%, due 7/15/2031)(5)(6)(14)
6/25/2015
47,830

29,267

30,958

0.9%





29,267

30,958

0.9%
MRP Holdco, Inc.
Professional Services
Senior Secured Term Loan A (7.05% (LIBOR + 5.00% with 1.50% LIBOR floor), due 4/17/2024)(3)(13)
4/17/2018
53,689

53,689

53,689

1.6%
Senior Secured Term Loan B (11.05% (LIBOR + 9.00% with 1.50% LIBOR floor), due 4/17/2024)(13)
4/17/2018
55,000

55,000

55,000

1.7%





108,689

108,689

3.3%
Octagon Investment Partners XV, Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 11.83%, due 7/19/2030)(5)(6)(14)
2/20/2013
42,064

33,182

25,085

0.8%





33,182

25,085

0.8%
Octagon Investment Partners 18-R Ltd.
Structured Finance
Subordinated Structured Note (Residual Interest, current yield 15.71%, due 4/16/2031)(5)(6)(14)
8/17/2015