Pearl Diver Credit Company Inc. Announces Fourth Quarter 2024 Financial Results
Pearl Diver Credit Company (NYSE: PDCC) reported its Q4 2024 financial results with a net asset value of $19.89 per share. The company achieved net investment income of $3.4 million ($0.50 per share), comprising $5.4 million in investment income and $2.0 million in expenses.
The company reported an unrealized gain on investments of $0.5 million ($0.07 per share) and a realized loss of $0.5 million ($0.07 per share). Total leverage stood at $35.6 million, representing 19.9% of total assets. The CLO portfolio showed a weighted average effective yield of 14.89%.
PDCC completed a public offering of 1,200,000 shares of 8.00% Series A Term Preferred Stock at $25 per share, with an additional 180,000 shares sold through overallotment in January 2025. The company's CLO investments provided exposure to approximately 1,200 unique corporate obligors across over 1,600 underlying loans, totaling $19.0 billion.
Pearl Diver Credit Company (NYSE: PDCC) ha riportato i risultati finanziari per il quarto trimestre del 2024 con un valore netto degli attivi di $19.89 per azione. L'azienda ha ottenuto un reddito netto da investimenti di $3.4 milioni ($0.50 per azione), composto da $5.4 milioni di reddito da investimenti e $2.0 milioni di spese.
L'azienda ha segnalato un guadagno non realizzato sugli investimenti di $0.5 milioni ($0.07 per azione) e una perdita realizzata di $0.5 milioni ($0.07 per azione). Il totale dell'indebitamento si è attestato a $35.6 milioni, pari al 19.9% degli attivi totali. Il portafoglio CLO ha mostrato un rendimento medio ponderato efficace del 14.89%.
PDCC ha completato un'offerta pubblica di 1.200.000 azioni di azioni privilegiate di Tipo A serie 8.00% a $25 per azione, con ulteriori 180.000 azioni vendute attraverso sovrallocazione a gennaio 2025. Gli investimenti CLO dell'azienda hanno fornito esposizione a circa 1.200 obbligazionisti aziendali unici su oltre 1.600 prestiti sottostanti, per un totale di $19.0 miliardi.
Pearl Diver Credit Company (NYSE: PDCC) informó sus resultados financieros del cuarto trimestre de 2024, con un valor neto de activos de $19.89 por acción. La compañía logró un ingreso neto de inversión de $3.4 millones ($0.50 por acción), que incluye $5.4 millones de ingresos por inversiones y $2.0 millones de gastos.
La compañía reportó una ganancia no realizada en inversiones de $0.5 millones ($0.07 por acción) y una pérdida realizada de $0.5 millones ($0.07 por acción). El apalancamiento total se situó en $35.6 millones, representando el 19.9% de los activos totales. La cartera CLO mostró un rendimiento efectivo promedio ponderado del 14.89%.
PDCC completó una oferta pública de 1.200.000 acciones de acciones preferentes de la serie A al 8.00% a $25 por acción, con otras 180.000 acciones vendidas a través de sobreasignación en enero de 2025. Las inversiones CLO de la compañía proporcionaron exposición a aproximadamente 1.200 obligadores corporativos únicos en más de 1.600 préstamos subyacentes, totalizando $19.0 mil millones.
Pearl Diver Credit Company (NYSE: PDCC)는 2024년 4분기 재무 결과를 보고했으며, 주당 순자산 가치는 $19.89입니다. 회사는 투자 소득 $3.4 백만 ($0.50 주당)을 달성했으며, 이는 $5.4 백만의 투자 소득과 $2.0 백만의 비용으로 구성됩니다.
회사는 투자에서 비실현 재무 이익이 $0.5 백만 ($0.07 주당)이고, 실현 손실이 $0.5 백만 ($0.07 주당)이라고 보고했습니다. 총 레버리지는 $35.6 백만으로, 총 자산의 19.9%에 해당합니다. CLO 포트폴리오는 가중 평균 효과 수익률 14.89%를 보여주었습니다.
PDCC는 $25 주당에서 8.00% 시리즈 A 우선주 1,200,000주를 공개 판매 완료하였으며, 2025년 1월에 추가로 180,000주가 추가 발행되었습니다. 회사의 CLO 투자로 인해 약 1,200명의 고유한 기업 채무자에게 1,600건 이상의 기초 대출에 대한 노출을 제공하여, 총 $19.0 십억을 이루었습니다.
Pearl Diver Credit Company (NYSE: PDCC) a annoncé ses résultats financiers pour le quatrième trimestre 2024 avec une valeur nette d'actifs de $19.89 par action. L'entreprise a réalisé un revenu net d'investissement de $3.4 millions ($0.50 par action), comprenant $5.4 millions de revenus d'investissement et $2.0 millions de dépenses.
L'entreprise a signalé un gain non réalisé sur les investissements de $0.5 millions ($0.07 par action) et une perte réalisée de $0.5 millions ($0.07 par action). L’endettement total s’élevait à $35.6 millions, représentant 19.9% des actifs totaux. Le portefeuille CLO a affiché un rendement effectif moyen pondéré de 14.89%.
PDCC a complété une offre publique de 1.200.000 actions d'actions privilégiées Série A à 8.00% à $25 par action, avec une vente supplémentaire de 180.000 actions par surallocation en janvier 2025. Les investissements CLO de l'entreprise ont fourni une exposition à environ 1.200 débiteurs d'entreprise uniques à travers plus de 1.600 prêts sous-jacents, totalisant $19.0 milliards.
Pearl Diver Credit Company (NYSE: PDCC) berichtete über die Finanzergebnisse für das vierte Quartal 2024 mit einem Nettovermögen von $19.89 pro Aktie. Das Unternehmen erzielte ein Nettoinvestitionseinkommen von $3.4 Millionen ($0.50 pro Aktie), das sich aus $5.4 Millionen Investitionseinkommen und $2.0 Millionen Ausgaben zusammensetzt.
Das Unternehmen berichtete über einen nicht realisierten Gewinn auf Investitionen von $0.5 Millionen ($0.07 pro Aktie) und einen realisierten Verlust von $0.5 Millionen ($0.07 pro Aktie). Die Gesamtverschuldung betrug $35.6 Millionen, was 19.9% der Gesamtvermögen entspricht. Das CLO-Portfolio wies eine gewichtete durchschnittliche effektive Rendite von 14.89% auf.
PDCC führte ein öffentliches Angebot über 1.200.000 Aktien von 8.00%-Serie-A-Vorzugsaktien zu $25 pro Aktie durch, wobei im Januar 2025 zusätzlich 180.000 Aktien durch Überzuteilung verkauft wurden. Die CLO-Investitionen des Unternehmensboten eine Exposition gegenüber etwa 1.200 einzigartigen Unternehmensschuldnern, die über 1.600 zugrunde liegende Kredite verteilt waren, zum Gesamtbetrag von $19.0 Milliarden.
- Net investment income of $3.4 million ($0.50 per share)
- Strong CLO portfolio yield of 14.89%
- Diverse portfolio exposure to 1,200 corporate obligors
- Successful preferred stock offering raising $30 million plus $4.5 million from overallotment
- Realized loss on investments of $0.5 million
- Increased leverage with $35.6 million in total debt
- High-cost preferred stock at 8.00% interest rate
Insights
Pearl Diver Credit Company delivered a solid Q4 2024 with several noteworthy metrics that warrant attention. The
The CLO portfolio's
The successful placement of
Portfolio diversification metrics are exceptional, with no single obligor exceeding
The
NEW YORK and LONDON, Jan. 28, 2025 /PRNewswire/ -- Pearl Diver Credit Company Inc. (NYSE: PDCC) (the "Company") today announced financial results for the fourth quarter ended December 31, 2024.
Fourth Quarter 2024 Results
- Net asset value per share of common stock
$19.89 - NII for the quarter ended December 31, 2024 was
$3.4 million $0.50 $5.4 million $0.80 $2.0 million $0.30 - For the quarter ended December 31, 2024, unrealized gain on investments was
$0.5 million $0.07 $0.5 million $0.07 - Net income for the quarter ended December 31, 2024 was
$3.4 million $0.50 - The Company had leverage of
$35.6 million 19.9% of total assets as of December 31, 2024. This was composed of$29.0 million 8.00% Series A Term Preferred Stock Due 2029, net of unamortized offering costs, and$6.6 million - As of December 31, 2024:
- The weighted average effective yield of the Company's collateralized loan obligation ("CLO") portfolio, based on amortized cost, was
14.89% .
- The weighted average effective yield of the Company's collateralized loan obligation ("CLO") portfolio, based on amortized cost, was
- Completed an underwritten public offering of 1,200,000 shares of
8.00% Series A Term Preferred Stock Due 2029 at$25 - As of December 31, 2024, on a look-through basis, and based on the most recent trustee reports received by such date:
- The Company, through its CLO investments, had indirect exposure to approximately 1,200 unique corporate obligors and over 1,600 underlying loans, totaling
$19.0 billion - The largest look-through obligor represented
0.7% of the loans underlying the Company's CLO equity portfolio. - The top ten largest look-through obligors together represented
4.3% of the loans underlying the Company's CLO equity portfolio.
- The Company, through its CLO investments, had indirect exposure to approximately 1,200 unique corporate obligors and over 1,600 underlying loans, totaling
Conference Call
As previously announced, Pearl Diver Credit Company Inc. will host a conference call to discuss its fourth quarter 2024 results today, January 28, 2025 at 11:00 a.m. Eastern Time / 4:00pm
A replay of the conference call will be available within two hours of the conclusion of the call and can be accessed online on the website.
About Pearl Diver Credit Company Inc.
Pearl Diver Credit Company Inc. (NYSE: PDCC) is an externally managed, non-diversified, closed-end management investment company. Its primary investment objective is to maximize its portfolio's total return, with a secondary objective of generating high current income. The Company seeks to achieve these objectives by investing primarily in equity and junior debt tranches of CLOs collateralized by portfolios of sub-investment grade, senior secured floating-rate debt issued by a large number of distinct US companies across several industry sectors. The Company is externally managed by Pearl Diver Capital LLP. For more information, visit www.pearldivercreditcompany.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company's other filings with the SEC. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Investor Contact:
Info@Pearldivercap.com
US: +1 617 872 0945
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SOURCE Pearl Diver Credit Company Inc.
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