Welcome to our dedicated page for Investcorp Credit Management BDC news (Ticker: ICMB), a resource for investors and traders seeking the latest updates and insights on Investcorp Credit Management BDC stock.
Investcorp Credit Management BDC, Inc. (ICMB) is a specialized financial services company based in New York City, specifically located at 601 Lexington Avenue. It operates as an externally managed, non-diversified, closed-end management investment firm and has chosen to be regulated as a Business Development Company (BDC). The primary goal of ICMB is to maximize total returns to its stockholders through a combination of current income and capital appreciation. This is achieved by strategically investing in the debt and related equity of privately held, lower middle-market companies.
Core Business: The company's core business revolves around investing in the debt of middle-market companies. These are defined as enterprises with a specific range of enterprise values. By focusing on this niche, ICMB aims to provide significant value to its investors. The firm employs meticulous due diligence and sophisticated investment strategies to enhance its portfolio performance.
Recent Achievements & Current Projects: ICMB has made substantial strides in identifying and investing in promising middle-market companies. Its recent projects include significant investments in various sectors, ensuring a diversified portfolio that mitigates risk and maximizes returns. These efforts have been well-recognized in the financial community, contributing to the company's solid reputation.
Financial Condition: The company maintains a robust financial standing, with well-managed assets and a focused investment approach. This prudent management has resulted in steady income generation and capital appreciation, aligning well with the company’s objectives.
Partnerships & Products: Investcorp Credit Management BDC Inc. collaborates with a range of financial institutions and industry experts to identify lucrative investment opportunities. Their product offerings predominantly include debt instruments and related financial products that cater to the financing needs of middle-market enterprises.
ICMB's strategic approach and consistent performance make it a noteworthy player in the financial services sector. Investors and stakeholders can stay updated with the latest developments and performance metrics through our regularly updated news section.
Investcorp Credit Management BDC (NASDAQ: ICMB) reported financial results for Q3 2024. The company's net asset value increased to $5.55 per share from $5.21, with net assets rising by $4.9 million (6.50%). ICMB invested $13.1 million in three new and three existing portfolio companies, with a weighted average yield of 10.73%. The company received $14.2 million from repayments and sales. Net investment income was $2.3 million ($0.16 per share), and the Board declared a quarterly distribution of $0.12 per share payable on January 8, 2025.
Investcorp Credit Management BDC (NASDAQ:ICMB) has announced it will release its financial results for the quarter ended September 30, 2024, on Tuesday, November 12, 2024, after market close. The company will host an earnings conference call on Wednesday, November 13, 2024, at 09:00 am ET. Interested parties can join via phone at (800) 550-9893; international callers should dial (858) 609-8959, using passcode 872058#. A replay will be available on the company website.
Investcorp Credit Management BDC (NASDAQ: ICMB) announced financial results for Q4 and fiscal year ended June 30, 2024. Key highlights:
- Board declared a distribution of $0.12 per share for Q3 2024
- Investments made in 2 new and 3 existing portfolio companies, totaling $17.9 million
- Fully realized investments in 3 portfolio companies, totaling $22.1 million
- Net asset value decreased $0.28 per share to $5.21
- Net assets decreased by $4.1 million (5.17%) during Q4
- Weighted average yield on debt investments: 12.33%
- Net investment income: $1.3 million ($0.09 per share)
- Net decrease in net assets from operations: $2.5 million ($0.17 per share)
The company maintained a disciplined investment approach amid challenging market conditions, focusing on portfolio stability and long-term growth.
Investcorp Credit Management BDC, Inc. (NASDAQ:ICMB) has announced the schedule for its fourth quarter and fiscal year 2024 earnings release. The company will disclose its financial results on Wednesday, September 25, 2024, after the financial markets close. Following this, ICMB will host an earnings conference call on Friday, September 27, 2024, at 10:00 am Eastern Time.
Interested parties can participate in the conference call by dialing (800) 550-9893 for domestic callers or (858) 609-8959 for international callers. The passcode for the call is 872058#. For those unable to attend, a replay of the call will be available on the company's website at http://icmbdc.com/earnings-calls/.
Investcorp Credit Management BDC (NASDAQ: ICMB) announced its Q3 financial results for the period ending March 31, 2024. The company reported a net investment income of $2.1 million, or $0.14 per share, and a net increase in net assets from operations of $2.4 million, or $0.17 per share. ICMB achieved a 12.36% weighted average yield on debt investments, increasing from 11.46% in the previous quarter. The Board declared a quarterly distribution of $0.12 per share and a supplemental distribution of $0.03 per share, both payable on June 14, 2024. The company fully realized investments in six portfolio companies, yielding $21.2 million in proceeds with a 17.09% internal rate of return. Net asset value rose slightly to $5.49 per share. Additionally, the company invested $8.9 million in existing portfolio companies, with no new investments made during the quarter.
Investcorp Credit Management BDC (NASDAQ: ICMB) announced a leadership transition with Suhail A. Shaikh being appointed as the new CEO, effective immediately.
Outgoing CEO Michael C. Mauer will remain as Chairman of the Board of Directors and take on the role of Vice Chairman of Private Credit at Investcorp.
Mr. Shaikh has been with Investcorp since January 2023, serving as President since February 2023 and as a Board member since September 2023. Both Mr. Shaikh and Mr. Mauer have been Co-Chief Investment Officers at CM Investment Partners since January 2023, with Mr. Shaikh now becoming the sole Chief Investment Officer at the Adviser.
Mr. Shaikh expressed optimism about the company's position in the current lending environment, which he believes favors alternative lenders like ICMB.
Investcorp Credit Management BDC, Inc. (formerly CM Finance Inc.) (NASDAQ:ICMB) will release its financial results for the quarter ended March 31, 2024 on Tuesday, May 14, 2024. An earnings conference call will be held on Wednesday, May 15, 2024, at 12:00 pm (Eastern Time). Interested parties can participate by dialing (800) 550-9893 5-10 minutes prior to the call.
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