Kayne Anderson BDC, Inc. reported its financial results for the quarter ending June 30, 2025, revealing a total investment income of $57.3 million, an increase from $52.4 million in the same period last year. For the six months ended June 30, 2025, total investment income reached $112.5 million, compared to $98.9 million in the prior year. The company’s net investment income for the quarter was $28.7 million, down from $34.4 million year-over-year, while the net increase in net assets resulting from operations was $24.9 million, compared to $31.2 million in the previous year.
The company’s total assets as of June 30, 2025, were $2.26 billion, up from $2.08 billion at the end of 2024. This growth was primarily driven by an increase in investments at fair value, which rose to $2.21 billion from $2.04 billion. However, net assets decreased to $1.16 billion from $1.19 billion, reflecting a decline in net asset value per share to $16.37 from $16.70. The company also reported a total of five debt investments on non-accrual status, representing 1.6% of total debt investments at fair value.
In terms of strategic developments, Kayne Anderson BDC made a significant investment in SG Credit Partners, Inc., structured as an $80 million term loan facility, a $34 million delayed draw term loan facility, and a $12 million common equity investment. This investment aligns with the company's focus on middle-market companies and is expected to enhance its portfolio. Additionally, the company has continued its share repurchase program, acquiring 585,671 shares at an average price of $15.51 per share, with approximately $96.6 million remaining for future repurchases.
Operationally, Kayne Anderson BDC's portfolio consisted of 114 companies with an aggregate fair value of approximately $2.17 billion as of June 30, 2025. The company reported a weighted average yield of 10.4% on its debt investments, with 100% of these investments having floating interest rates. The largest sectors represented in the portfolio included Trading Companies & Distributors, Commercial Services & Supplies, and Health Care Providers & Services, which collectively accounted for 36.8% of the portfolio based on fair value.
Looking ahead, Kayne Anderson BDC anticipates that its cash and liquidity needs will be met through ongoing operations and financing activities. The company aims to maintain an asset coverage ratio of 200% to 180%, equating to a debt-to-equity ratio of 1.0x to 1.25x. With a commitment to investing primarily in first lien senior secured loans, Kayne Anderson BDC is positioned to navigate market conditions while pursuing its investment objectives.
About Kayne Anderson BDC, Inc.
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