Every atomic assertion extracted from the underlying record, ranked by evidence strength.
Michael Ewald stated that BCSF had attractive net investment income that continued to cover its dividend.
Net asset value per share as of March 31, 2026, was $16.86.
Michael Ewald stated that BCSF maintained a disciplined and selective approach to new investment activity despite market volatility and a challenging macroeconomic backdrop.
The Company closed an offering of $350.0 million aggregate principal amount of 5.950% unsecured notes due 2031 (the "March 2031 Notes") during the first quarter.
Michael Ewald stated that BCSF focused on structures that provide strong lender controls.
Michael Ewald believes BCSF remains well-positioned to navigate the current market environment through its predominantly first lien portfolio, broad diversification across industries, and durable balance sheet.
Net investment income (NII) per share was $0.42 for the first quarter ended March 31, 2026.
Annualized NII yield on book value was 10.0% for the first quarter ended March 31, 2026.
Net income per share was $0.05 for the first quarter ended March 31, 2026.
Annualized return on book value was 1.2% for the first quarter ended March 31, 2026.
Net asset value per share as of December 31, 2025, was $17.23.
Gross investment fundings were $243.2 million for the first quarter ended March 31, 2026.
Net investment fundings were $(12.2) million for the first quarter ended March 31, 2026.
Ending net debt-to-equity was 1.28x as of March 31, 2026.
Ending net debt-to-equity was 1.24x as of December 31, 2025.
Investments on non-accrual represented 1.4% of the total investment portfolio at amortized cost as of March 31, 2026.
Investments on non-accrual represented 0.6% of the total investment portfolio at fair value as of March 31, 2026.
Non-accrual investments were down from 1.5% (amortized cost) and 0.8% (fair value) as of December 31, 2025.
The Company entered into an interest rate swap agreement for the March 2031 Notes to receive a fixed interest rate of 5.950% per annum and pay a floating interest rate of SOFR plus 2.28% per annum.
The Board of Directors declared a dividend of $0.42 per share for the second quarter of 2026, payable to stockholders of record as of June 15, 2026.
Net investment income per share was $0.42 for Q1 2026.
Net investment income per share was $0.46 for Q4 2025.
Net investment income was $27.4 million for Q1 2026.
Net investment income was $29.7 million for Q4 2025.
Earnings per share was $0.05 for Q1 2026.
Earnings per share was $0.43 for Q4 2025.
Regular dividends per share declared and payable were $0.42 for Q1 2026.
Regular dividends per share declared and payable were $0.42 for Q4 2025.
Special dividends per share declared and payable were $0 for Q1 2026.
Special dividends per share declared and payable were $0.18 for Q4 2025.
Total fair value of investments was $2,470.8 million as of March 31, 2026.
Total fair value of investments was $2,508.4 million as of December 31, 2025.
Total assets were $2,601.7 million as of March 31, 2026.
Total assets were $2,662.6 million as of December 31, 2025.
Total net assets were $1,093.6 million as of March 31, 2026.
Total net assets were $1,117.4 million as of December 31, 2025.
Net asset value per share was $16.86 as of March 31, 2026.
Net asset value per share was $17.23 as of December 31, 2025.
For the three months ended March 31, 2026, the Company invested $243.2 million in 107 portfolio companies.
$123.6 million was invested in 13 new companies during the first quarter of 2026.
$110.6 million was invested in 93 existing companies during the first quarter of 2026.
$9.0 million was invested in SLP during the first quarter of 2026.
The Company had $255.4 million of principal repayments and sales in the first quarter of 2026.
Net investment activity was $(12.2) million for Q1 2026.
Net investment activity was $(25.3) million for Q4 2025.
As of March 31, 2026, the Company's investment portfolio had a fair value of $2,470.8 million.
The investment portfolio comprised investments in 212 portfolio companies operating across 30 different industries as of March 31, 2026.
First Lien Senior Secured Loans constituted 66.0% ($1,631.1 million) of the investment portfolio at fair value as of March 31, 2026.
The weighted average yield on the investment portfolio at amortized cost was 10.8% as of March 31, 2026.
The weighted average yield on the investment portfolio at fair value was 10.9% as of March 31, 2026.
92.6% of the Company's debt investments at fair value were in floating rate securities as of March 31, 2026.
Six portfolio companies were on non-accrual status as of March 31, 2026.
These non-accrual companies represented 1.4% of the total investment portfolio at amortized cost as of March 31, 2026.
These non-accrual companies represented 0.6% of the total investment portfolio at fair value as of March 31, 2026.
ISLP's investment portfolio had an aggregate fair value of $711.9 million as of March 31, 2026.
ISLP's portfolio comprised investments in 40 portfolio companies operating across 17 different industries as of March 31, 2026.
94.0% of ISLP's investment portfolio on a fair value basis was comprised of first lien senior secured loans.
100% of ISLP's debt investments at fair value were in floating rate securities.
SLP's investment portfolio had an aggregate fair value of $1,599.1 million as of March 31, 2026.
SLP's portfolio comprised investments in 106 portfolio companies operating across 26 different industries as of March 31, 2026.