Capital Southwest reports Q2 NII 38c, consensus 42c
Reports Q2 NAV per share $18.30. In commenting on the company's results, Bowen Diehl, president and CEO, stated, "We are pleased with our results this quarter, having posted a solid $0.42 per share in Net Investment Income despite incurring a $472 thousand, or $0.03 per share, one-time expense to retire our previous registration statement. From a capitalization standpoint, we further solidified our balance sheet by raising $75 million in an all institutionally-placed bond offering at an attractive yield of 5.375% with a 5-year maturity. The bond transaction was a unique one in the BDC space, as we believe that we are the only BDC in recent history with sub $1 billion in market cap to be able to access this market. Overall, the investment portfolio continues to be solid with our lower middle market portfolio posting strong performance and our upper middle market portfolio, including I-45 SLF, experiencing some mark-to-market unrealized depreciation driven primarily by the underperformance of a few specific portfolio companies."