The following is a summary of the Investcorp Credit Management BDC, Inc. (ICMB) Q1 2025 Earnings Call Transcript:

Financial Performance:

• Investcorp Credit Management BDC reported a net asset value increase to $5.55 per share, up from $5.21, driven by higher net investment income and unrealized gains from mark-to-market adjustments.

• Net investment income for the quarter was $2.3 million, reflecting a $1 million increase over the prior quarter.

• The company deployed $13.1 million across six portfolio companies.

• Fair value of the portfolio was $190.1 million, net assets were $79.7 million, up $4.9 million from the prior quarter.

• The weighted average yield of debt investments made in the quarter was approximately 10.7%.

Business Progress:

• Continued focus on building relationships with high-quality sponsors and investing in defensible industries.

• Rotated the portfolio towards larger, more stable credits with a focus on senior secured investments.

• Total fundings for new investments were approximately $13.1 million at cost.

• Realized investments in two portfolio companies totaling $13.4 million with an IRR of approximately 11.8%.

• Portfolio now consists of 45 borrowers, with substantial investments in first lien debt.

Opportunities:

• Deployed capital strategically, maintaining optimal portfolio leverage between 1.25 times and 1.5 times.

• Investment pipeline remains robust with promising opportunities ahead.

Risks:

• High competition for quality investment opportunities.

• Economic uncertainties pose challenges.

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