**Investcorp Credit Management BDC Reports Fiscal Year 2025 Results**

Investcorp Credit Management BDC, Inc. (ICMB) has released its financial results for the twelve-month period ended December 31, 2025. The company, a specialty finance firm focused on U.S. middle-market debt, reported total investment income of $17.4 million, a decrease from $23.4 million in the prior fiscal year. This decline was primarily attributed to lower index and interest rates, the sale and repayment of twelve portfolio companies, a decrease in payment-in-kind (PIK) interest income, and a decrease in PIK dividend income. The company's portfolio consisted of debt and equity investments in 37 portfolio companies with a fair value of $172.7 million, with 80.76% in first lien investments and 19.24% in equity, warrant, or other positions.

Operating expenses for the year totaled $15.5 million, compared to $16.8 million in the previous fiscal year. The decrease was mainly due to lower interest expenses resulting from a reduced outstanding balance on the Capital One Revolving Financing and lower index rates, a decrease in income-based incentive fees, a slight decrease in base management fees, and a decrease in other expenses related to the probability of collecting the receivable from the sale of 1888 Industrial Services, LLC. The company reported a net investment income of $2.4 million, or $0.13 per share, compared to $6.9 million, or $0.42 per share, in the prior fiscal year.

The company experienced a net realized loss on investments of $1.8 million, primarily due to losses associated with the sales of CareerBuilder, LLC Term Loan B3 and LABL, Inc. Term Loan B, the paydown of American Teleconferencing Services, Ltd - Revolver, as well as the restructuring of its investment in American Nuts Holdings, LLC Term Loan B, offset by realized gains on the sales of Advanced Solutions International - Preferred Stock and Investcorp Transformer Aggregator LP. Additionally, the company recorded a net change in unrealized depreciation of $8.9 million, mainly due to the decrease in fair value of investments in Bioplan USA, Inc. - Common Stock, Max US Bidco Inc. Term Loan B, Easy Way Leisure Corporation Term Loan, Fusion Connect, Inc - Series A Preferred Stock, American Nuts Holdings, LLC Class A Preferred Units and reversal of unrealized gains in association with the sale of Advanced Solutions International - Preferred Stock and Investcorp Transformer Aggregator LP, partially offset by the reversal of unrealized losses in association with the sale of Career Builder, LLC Term Loan B3.

During the fiscal year, Investcorp Credit Management BDC continued to manage its capital structure. As of December 31, 2025, the company had $58.9 million in borrowings outstanding under the Capital One Revolving Financing. The company's board of directors authorized a share repurchase program to acquire up to $5 million of its common stock, with 13,627 shares repurchased during the year. The company also declared distributions totaling $0.52 per share. Subsequent to the fiscal year-end, the company entered into a financing arrangement with Investcorp Capital PLC for $65.0 million to repay its 4.875% Notes due 2026.

About Investcorp Credit Management BDC, Inc.

Investcorp Credit Management BDC, Inc. is a Maryland-based, externally managed business development company specializing in debt investments in U.S. middle-market companies with revenues over $50 million. It focuses on senior secured loans, unitranche, and subordinated debt, targeting companies with strong cash flow and market positions. The firm emphasizes disciplined underwriting, active portfolio management, and structuring creative financing solutions to generate attractive risk-adjusted returns.

This description was generated via AI from an annual report. Updated 8 months ago.

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