**Saratoga Investment Corp. Reports Fiscal Year 2026 Results**

Saratoga Investment Corp., a specialty finance company, released its financial results for the fiscal year ended February 28, 2026, showcasing a net increase in net assets resulting from operations of $36.6 million, or $2.31 per share. This compares to $28.1 million, or $2.02 per share, for the prior fiscal year. Total investment income for fiscal year 2026 was $125.7 million, a decrease from $148.9 million in fiscal year 2025. The company's net assets stood at $396.2 million as of February 28, 2026, compared to $392.7 million at the end of the previous fiscal year.

The company's portfolio primarily consists of investments in leveraged loans issued by middle-market companies. As of February 28, 2026, first lien term loans represented 82.1% of the portfolio, while second lien term loans accounted for 3.9%. Unsecured loans, structured finance securities, and equity interests comprised 1.5%, 4.9%, and 7.6% of the portfolio, respectively. The weighted average yield on all investments was 9.6% as of the end of the fiscal year. The company held investments in 49 portfolio companies, excluding investments in a collateralized loan obligation fund and a joint venture.

Strategic developments during the year included the termination of the Encina Credit Facility and the establishment of a new $85.0 million senior secured revolving credit facility with Valley National Bank. The company also issued $50.0 million in 7.25% fixed-rate notes due 2030 and $100.0 million in 7.50% fixed-rate notes due 2031. These actions were aimed at optimizing the company's capital structure and funding future investments. The company also extended its share repurchase plan to January 15, 2027, allowing for the repurchase of up to 1.7 million shares of common stock.

Looking ahead, Saratoga Investment Corp. intends to maintain its focus on generating attractive risk-adjusted returns through current income and long-term capital appreciation. The company plans to continue investing primarily in senior and unitranche leveraged loans and mezzanine debt issued by private U.S. middle-market companies. The company also intends to continue to distribute to its stockholders substantially all of its operating taxable income in order to satisfy the distribution requirement applicable to RICs under the Code.

About SARATOGA INVESTMENT CORP.

Saratoga Investment Corp. is a specialty finance company providing customized debt and equity financing solutions to U.S. middle-market businesses. Its core activities include investing in senior and mezzanine loans, structured finance, and opportunistic assets. The company targets companies with stable earnings, strong management, and growth potential, offering strategic capital for acquisitions, recapitalizations, and expansion, primarily through direct lending and syndications.

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

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