Stock News Alert: Investcorp Credit Management BDC (NASDAQ:ICMB)

On Tuesday Investcorp Credit Management BDC (NASDAQ:ICMB) traded with change of 0.88% on volume of 9836 shares in the last session as compared to average volume of 21595 shares. During last trade its minimum price was $6.71 and it gained highest price of $6.9. ICMB has total market capitalization of $93883138. Its closing value stands at $6.89.

On Nov. 12, 2019, Investcorp Credit Management BDC (NASDAQ:ICMB) declared its financial results  for its fiscal first quarter ended September 30, 2019. The Company was formerly known as CM Finance Inc until August 30, 2019.

HIGHLIGHTS

  • ICMB made four investments in four portfolio companies. The Company invested $20.3mm during the quarter. The weighted average yield of debt investments made in the quarter was 8.18%, inclusive of funding a revolving commitment.
  • Four investments were fully realized during the quarter. These were the Company’s investments in FPC Holdings, Immucor, PR Wireless, and Sears Holding Company.
  • The weighted average yield on debt investments, at cost, decreased six basis points to 10.44%, compared to 10.50% as of June 30, 2019. The change in LIBOR during the quarter accounted for a negative 26 basis point effect on the yield of the Company’s debt portfolio.
  • Net asset value (NAV) decreased $0.32 per share (or 3.04%) to $10.19, compared to $10.51 as of June 30, 2019.

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