Investor Presentaiton
20%
IMPACT OF EARLY PAYOFFS ON EFFECTIVE YIELDS
Early Payoffs Lead to Higher Effective Yields and Earnings
14.9%
14.1% 14.2% 14.3%
14.3%
15%
13.4%
13.5% 13.5% 13.5%
12.2%
12.1%
12.6% 12.5%
12.7% 12.7%
13.0%
12.9% 12.7%
13.4%
13.6%
13.0%
13.3%
12.2% 12.6%
12.7%
11.9%
12.4% 12.3%
11.8% 11.5%
11.8%
11.3%
10%
9.3%
9.6%
9.8%
10.1%
10.4%
10.4%
10.3% 10.3% 10.2%
9.5%
10.1%
8.9%
9.5%
9.3%
9.2%
9.3%
5%
Q1-17
Q2-17
Q3-17 Q4-17
GAAP Effective Yield
Q1-18 Q2-18
(1)
Q3-18
Q4-18 Q1-19 Q2-19
Q3-19
(2)
Core Yield
Q4-19 Q1-20 Q2-20 Q3-20
Loan Coupon Rate
Q4-20
$300
$505.6
EFFECTIVE YIELDS
17.8%
$486.6
$526.7
$250
12.7%
$200
8.7%
8.7%
8.6%
8.4%
$150
7.2%
7.4%
7.4%
6.7%
6.7%
20%
$709.0
13.4%
15%
10%
$100
4.0%
3.6%
3.7%
9.4%
5%
$50
$100.3 $166.4 $114.7 $124.2 $243.5
$114.3
$64.9
$63.9 $47.5 $178.3 $140.1 $160.8 $150.5
$85.4
$190.8 $282.3
$0
0%
Q1-17
Q2-17 Q3-17
Q4-17 Q1-18
Q2-18
Q3-18
Q4-18 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20
Q2-20
Q3-20 Q4-20
Early Payoffs
Early Payoffs as % of Ending Total Debt Investment Balance at Cost
UNSCHEDULED EARLY PAYOFFS ($in millions)
(1)
Effective Yield is inclusive of all fees, including all realized unamortized fees and all realized transaction fees including but not limited to amendment fees and prepayment fees, and is calculated based on the
weighted average principal balance of loans outstanding on a daily basis
(2)
Core Yield excludes Early Repayments and One-Time Fees, and includes income and fees from expired commitments
Xercules.
CAPITAL
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