Carlyle Credit Income Fund Shows Promising Financial Results
NEW YORK, Carlyle Credit Income Fund (“we,” “us,” “our,” “CCIF” or the “Fund”) (NYSE: CCIF) has announced impressive financial results for its first quarter ending December 31. The Fund remains steadfast in its commitment to its investors and the CLO market, reporting strong growth and stability.
Overview of First Quarter Performance
Lauren Basmadjian, CEO of CCIF, remarked on the positive momentum as the Fund navigates through 2025 after a remarkable year in the CLO market. She stated, “Our first quarter results reflect strong momentum. We have upheld a consistent monthly dividend while scaling the Fund. The fundamentals in the CLO market remain robust, and our recent convertible preferred share placement equips us with the necessary capital for exciting investment opportunities ahead.”
Key Highlights from the Quarter
During this quarter, the Fund achieved several important milestones:
- The monthly dividend has been maintained at $0.1050, reflecting an annualized yield of 16.45% based on the share price as of the end of February, as well as 16.84% based on the Fund's NAV at the end of January.
- CLO investments totaling $12 million were funded, yielding a weighted average GAAP yield of 16.8%. As of December 31, 2024, the overall portfolio had a weighted average GAAP yield of 17.2%.
- Successfully conducted an ATM offering program resulting in the sale of 1,370,000 common shares at a premium to NAV, generating $11 million in net proceeds.
Financial Metrics and Net Asset Value
The reported net investment income was $0.26 per common share, while core net investment income stood at $0.44 per common share for the fiscal period. As of December 31, 2024, the net asset value per common share was recorded at $7.44, with the total portfolio fair value reaching $177.9 million.
Details on Dividends
CCIF has declared a steadfast monthly dividend of $0.1050 for the months of March, April, and May. This move underlines the Fund's commitment to delivering consistent returns to its investors.
Preferred Shares Dividend Announcement
Additionally, the Fund is pleased to confirm the declaration of dividends for the 8.75% Series A Term Preferred Shares, set at $0.1823 per share for March, April, and May. This strong dividend performance reflects the Fund's strategy to provide attractive investment returns while maintaining a solid financial base.
Upcoming Conference Call
Investors are invited to participate in a conference call scheduled for 10:00 a.m. EST to discuss the first quarter results. Participants can register through the official website and view the recording shortly after the event concludes.
About Carlyle Credit Income Fund
Carlyle Credit Income Fund (NYSE: CCIF) operates as an externally managed closed-end fund that primarily invests in equity and junior debt tranches of collateralized loan obligations (CLOs). Our investment strategy focuses on portfolios dominated by U.S. senior secured loans that encompass a broad spectrum of industry sectors and borrowers.
As part of Carlyle, we leverage extensive resources and expertise in the credit markets, ensuring that we maintain our competitive edge. Our management is conducted by Carlyle Global Credit Investment Management L.L.C., a registered investment adviser dedicated to delivering strong financial results for our shareholders.
Frequently Asked Questions
What is Carlyle Credit Income Fund's primary investment focus?
The Fund primarily invests in equity and junior debt tranches of collateralized loan obligations (CLOs), especially U.S. senior secured loans.
What was the Fund's dividend for the first quarter?
The Fund maintained a monthly dividend of $0.1050 per common share for March, April, and May.
How did the recent capital raise affect CCIF?
The successful sale of shares resulted in $11 million in net proceeds, enhancing our investment capacity.
When will the next conference call take place?
The next conference call is scheduled for 10:00 a.m. EST, providing insights on our first quarter financial outcomes.
Who manages Carlyle Credit Income Fund?
The Fund is managed by Carlyle Global Credit Investment Management L.L.C., a subsidiary of Carlyle, which offers significant resources and expertise.
