Investor Presentaiton
First Quarter 2023 Financial Highlights and Portfolio Overview
As of March 31, 2023
Continued
Strong
Financial
Performance
ā
Record net investment income of $0.44 per share, exceeded the fourth quarter dividend of $0.32 per
share paid on March 31
Loans on non-accrual limited to 2 portfolio companies; 0.3% of total investments at fair value and 0.5%
at cost
Declared a second quarter dividend of $0.34 per share, payable on June 30, 2023 to stockholders of
record as of the close of business on June 16, 2023
Diversified
Portfolio with an
Emphasis on
Less-Cyclical
Businesses
Total portfolio fair value of $1.7 billion diversified across 143 portfolio companies
88% invested in senior secured debt; 76% of the total portfolio is 1st lien
Weighted average yield of the debt portfolio is 13.1%(1)
Total acquisitions of $76 million, dispositions of $19 million
Flexible Capital
With
Available Liquidity
Diverse leverage program totaling $1.2 billion, with well laddered maturities
56% of outstanding leverage as of March 31 is unsecured
$208 million of available credit facility capacity
Net regulatory leverage ratio 1.04x, well within our 2:1 regulatory leverage limitation
Fitch reaffirmed the Company's investment-grade rating with stable outlook during the first quarter
(1) Weighted average annual effective yield includes amortization of deferred debt origination and end-of-term fees and accretion of original issue discount, but excludes market
discount, any prepayment and make-whole fee income, and any debt investments that are distressed or on non-accrual status. Weighted average effective yield on the total portfolio
(including debt investments that are distressed or on non-accrual status and equity investments) was 12.3% as of 3/31/2023.
Past performance does not guarantee future returns.
BLACKROCK
3
TCP
CAPITAL
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