Carlyle Credit Income Fund Announces Third Quarter 2024 Financial Results
Carlyle Credit Income Fund (NYSE: CCIF) announced its Q3 2024 financial results, highlighting several achievements. The Fund funded $12.2 million in new CLO investments with a weighted average GAAP yield of 19.49%. The aggregate portfolio weighted average GAAP yield was 20.26% as of June 30, 2024. CCIF maintained its monthly dividend of 10.5 cents through November 2024, equating to a 14.81% annualized dividend based on the share price or 16.49% based on NAV. The Fund sold 680,000 common shares via its ATM program, raising $5.5 million. Net investment income was $0.32 per common share, and NAV per common share was $7.68 as of June 30, 2024. The total fair value of investments stood at $138.0 million.
Il Carlyle Credit Income Fund (NYSE: CCIF) ha annunciato i risultati finanziari del Q3 2024, evidenziando diversi successi. Il Fondo ha finanziato 12,2 milioni di dollari in nuovi investimenti CLO con un rendimento medio GAAP ponderato del 19,49%. Il rendimento medio ponderato GAAP dell'intero portafoglio era del 20,26% al 30 giugno 2024. CCIF ha mantenuto il suo dividendo mensile di 10,5 centesimi fino a novembre 2024, corrispondente a un dividendo annualizzato del 14,81% basato sul prezzo delle azioni o 16,49% basato sul NAV. Il Fondo ha venduto 680.000 azioni comuni tramite il suo programma ATM, raccogliendo 5,5 milioni di dollari. Il reddito netto da investimenti è stato di 0,32 dollari per azione comune e il NAV per azione comune era di 7,68 dollari al 30 giugno 2024. Il valore totale equo degli investimenti è ammontato a 138,0 milioni di dollari.
El Carlyle Credit Income Fund (NYSE: CCIF) anunció sus resultados financieros del tercer trimestre de 2024, destacando varios logros. El Fondo financió 12.2 millones de dólares en nuevas inversiones CLO con un rendimiento promedio ponderado GAAP del 19.49%. El rendimiento promedio ponderado GAAP de la cartera total fue del 20.26% al 30 de junio de 2024. CCIF mantuvo su dividendo mensual de 10.5 centavos hasta noviembre de 2024, lo que equivale a un dividendo anualizado del 14.81% según el precio de la acción o 16.49% según el NAV. El Fondo vendió 680,000 acciones comunes a través de su programa ATM, recaudando 5.5 millones de dólares. Los ingresos netos por inversiones fueron de 0.32 dólares por acción común, y el NAV por acción común era de 7.68 dólares al 30 de junio de 2024. El valor total justo de las inversiones se situó en 138.0 millones de dólares.
칼라일 크레딧 인컴 펀드 (NYSE: CCIF)가 2024년 3분기 재무 결과를 발표하며 여러 성과를 강조했습니다. 이 펀드는 1,220만 달러의 새로운 CLO 투자를 실시했습니다 가중 평균 GAAP 수익률은 19.49%입니다. 전체 포트폴리오의 가중 평균 GAAP 수익률은 2024년 6월 30일 기준 20.26%입니다. CCIF는 2024년 11월까지 월 배당금 10.5센트를 유지했습니다, 이는 주가 기준으로 연환산 배당금 14.81% 또는 NAV 기준으로 16.49%에 해당합니다. 이 펀드는 ATM 프로그램을 통해 680,000주 보통주를 판매하여 550만 달러를 모금했습니다. 순 투자 수익은 보통주당 0.32달러였습니다, 그리고 보통주당 NAV는 7.68달러였습니다 2024년 6월 30일 기준으로. 투자 총 공정 가치는 1억 3,800만 달러에 달했습니다.
Le Carlyle Credit Income Fund (NYSE: CCIF) a annoncé ses résultats financiers du troisième trimestre 2024, soulignant plusieurs réalisations. Le Fonds a financé 12,2 millions de dollars dans de nouveaux investissements CLO avec un rendement GAAP moyen pondéré de 19,49%. Le rendement GAAP moyen pondéré du portefeuille agrégé était de 20,26% au 30 juin 2024. CCIF a maintenu son dividende mensuel de 10,5 cents jusqu'en novembre 2024, ce qui équivaut à un dividende annualisé de 14,81% basé sur le prix des actions ou 16,49% basé sur le NAV. Le Fonds a vendu 680 000 actions ordinaires via son programme ATM, collectant 5,5 millions de dollars. Le revenu net des investissements était de 0,32 dollar par action ordinaire, et le NAV par action ordinaire était de 7,68 dollars au 30 juin 2024. La valeur totale des investissements s'élevait à 138,0 millions de dollars.
Der Carlyle Credit Income Fund (NYSE: CCIF) hat seine finanziellen Ergebnisse für das 3. Quartal 2024 bekannt gegeben und mehrere Erfolge hervorgehoben. Der Fonds finanzierte 12,2 Millionen Dollar in neue CLO-Investitionen mit einer gewichteten durchschnittlichen GAAP-Rendite von 19,49%. Die gewichtete durchschnittliche GAAP-Rendite des gesamten Portfolios betrug 20,26% zum 30. Juni 2024. CCIF behielt seine monatliche Dividende von 10,5 Cent bis November 2024 bei, was einer annualisierten Dividende von 14,81% basierend auf dem Aktienkurs oder 16,49% basierend auf dem NAV entspricht. Der Fonds verkaufte 680.000 Stammaktien über sein ATM-Programm und brachte 5,5 Millionen Dollar ein. Das Nettoergebnis aus Investitionen betrug 0,32 Dollar pro Stammaktie, und der NAV pro Stammaktie betrug 7,68 Dollar zum 30. Juni 2024. Der gesamte faire Wert der Investitionen betrug 138,0 Millionen Dollar.
- Funded $12.2 million in new CLO investments with a 19.49% weighted average GAAP yield
- Aggregate portfolio weighted average GAAP yield of 20.26%
- Maintained monthly dividend of 10.5 cents, representing 14.81% annualized yield
- Raised $5.5 million through ATM offering program at a premium to NAV
- Net investment income of $0.32 per common share
- None.
Insights
The Q3 2024 results for CCIF show strong performance and strategic growth. The fund's weighted average GAAP yield of 20.26% is impressive, indicating robust returns on investments. The increase in dividend yield to 16.49% based on NAV is a positive sign for income-seeking investors. However, it's important to note the slight decrease in NAV to
The fund's strategy of rotating into CLO equity seems to be paying off, with new investments yielding
CCIF's Q3 results reflect a broader trend in the credit market, particularly in the CLO space. The near-record activity levels in the CLO market during H1 2024 suggest a favorable environment for credit funds. However, this heightened activity could lead to increased competition and potentially lower returns in the future.
The fund's ability to maintain a high dividend yield in this environment is noteworthy. The 14.81% annualized dividend yield based on share price is significantly above market averages, which could attract yield-hungry investors in a low-interest-rate environment. However, such high yields often come with increased risk. Investors should carefully assess the sustainability of these returns and the potential for NAV erosion over time. The fund's performance will likely be closely tied to the broader credit market conditions and CLO performance in the coming quarters.
NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Carlyle Credit Income Fund (“we,” “us,” “our,” “CCIF” or the “Fund”) (NYSE: CCIF) today announced its financial results for its third quarter ending June 30, 2024. The full detailed presentation of the Fund’s third quarter 2024 financial results can be viewed on the Fund’s website carlylecreditincomefund.com/investor-dashboard.
Lauren Basmadjian, CCIF’s Chief Executive Officer said, “We are pleased with our progress and accomplishments during our first year as CCIF’s investment advisor, including rotating the portfolio into CLO equity, issuing
Over the past quarter, the Fund has successfully:
- Funded
$12.2 million in new CLO investments with a weighted average GAAP yield of19.49% . The aggregate portfolio weighted average GAAP yield was20.26% as of June 30, 2024. - Maintained the monthly dividend of 10.5 cents through November 2024, equating to a
14.81% annualized dividend based on share price as of August 20, 2024, or16.49% based on the Fund’s NAV as of July 31, 2024. - Sold 680,000 common shares in connection with the ATM offering program at a premium to NAV for net proceeds of
$5.5 million .
Net investment income for the third quarter of 2024 was
Dividends
CCIF is maintaining a monthly dividend on shares of the Fund’s common stock of
| Security | Amount per Share | Record Dates | Payable Dates | |
| Common Stock | September 18, 2024 | September 30, 2024 | ||
| October 21, 2024 | October 31, 2024 | |||
| November 18, 2024 | November 29, 2024 | |||
CCIF is also pleased to announce the declaration of dividends on shares of the Fund’s
| Security | Amount per Share | Record Dates | Payable Dates | |
| Series A Preferred Shares | September 18, 2024 | September 30, 2024 | ||
| October 21, 2024 | October 31, 2024 | |||
| November 18, 2024 | November 29, 2024 | |||
Conference Call
The Fund will host a conference call at 10:00 a.m. EDT on Thursday, August 22, 2024 to discuss its third quarter financial results. Please register for the conference call here. The conference call information will also be available via a link on Carlyle Credit Income Fund’s website and the recording will be available on our website soon after the call’s completion.
About Carlyle Credit Income Fund
Carlyle Credit Income Fund (NYSE: CCIF) is an externally managed closed-end fund focused on investing in primarily equity and junior debt tranches of collateralized loan obligations (“CLOs”). The CLOs are collateralized by a portfolio consisting primarily of U.S. senior secured loans with a large number of distinct underlying borrowers across various industry sectors. CCIF is externally managed by Carlyle Global Credit Investment Management L.L.C. (“CGCIM”), an SEC-registered investment adviser and wholly owned subsidiary of Carlyle. CCIF draws upon the significant scale and resources of Carlyle as one of the world's largest CLO managers.
Web: www.carlylecreditincomefund.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may,” “plans,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions to identify forward-looking statements, although not all forward-looking statements include these words. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which we make it. Factors or events that could cause our actual results to differ, possibly materially from our expectations, include, but are not limited to, the risks, uncertainties and other factors we identify in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in filings we make with the Securities and Exchange Commission, and it is not possible for us to predict or identify all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts:
| Investors: | Media: |
| Jane Cai | Kristen Greco Ashton |
| +1 (866) 277-8243 investorrelations@carlylecreditincomefund.com | +1 (212) 813-4763 kristen.ashton@carlyle.com |
FAQ
What was CCIF's net investment income per common share for Q3 2024?
What is the annualized dividend yield for CCIF based on the August 20, 2024 share price?
How much did CCIF invest in new CLO investments during Q3 2024?
What was CCIF's net asset value (NAV) per common share as of June 30, 2024?
