The following is a summary of the Oxford Lane Capital Corporation (OXLC) Q4 2024 Earnings Call Transcript:
Financial Performance:
Oxford Lane Capital reported a surge in Net Asset Value per share to $4.90 at the end of Q4 2024.
The company observed an increase in GAAP total investment income to approximately $82.6 million.
The GAAP net investment income gauged at $51 million or $0.22 per share.
Core net investment income rounded off at around $79.9 million or $0.35 per share.
The company recorded net unrealized depreciation on investments of around $17.7 million.
The net increase in net assets resulting from operations for Oxford Lane was approximately $67.5 million or $0.30 per share in the fourth fiscal quarter.
The firm issued nearly 18.6 million shares of its common stock, earning net proceeds of about $94.7 million.
Business Progress:
Oxford Lane invested an additional $225.2 million in CLO and received around $19 million from sales and repayments.
The Board of Directors announced a 12.5% hike in monthly common stock distributions to $0.09 per share for Q3 2024.
The company noted an improvement in U.S. loan market performance with an upswing in U.S. loan prices in Q4 2024.
The value of CLO new issues during Q4 added up to approximately $49 billion.
The company traded over $300 million worth of CLO equity and junior debt in the secondary market, bringing in three new issue CLO equity investments in the primary market.
Oxford Lane plans on maintaining an opportunistic and flexible CLO investment strategy across U.S. CLO equity, debt, and warehouses.
More details: Oxford Lane Capital Corp IR
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