The following is a summary of the Carlyle Credit Income Fund (CCIF) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Q4 total investment income was $7.9 million, or $0.55 per share.

• Total net investment income for the quarter was $4.2 million, or $0.30 per share.

• Core net investment income for the fourth quarter was $0.45 per share.

• Net asset value as of September 30 was $7.64 per share.

Business Progress:

• Carlyle Credit Income Fund maintained monthly dividends amounting to $0.105 per share or 15.2% annualized.

• Completed a private placement of five-year, 7.125% convertible preferred shares and issued 1.4 million common shares through a registered direct placement.

• New CLO investments during the quarter totaled $39.6 million with a weighted average GAAP yield of 16.5%.

• Completed seven CLO resets year-to-date through September, extending the reinvestment periods and cash flows.

Opportunities:

• Thorough refinancing and reset opportunities due to tightening of CLO liabilities, enabling substantial cut in borrowing costs amid a stable credit backdrop.

Risks:

• Potential decline in cash-on-cash returns due to expected future rate cuts, thought it could enhance borrower health due to reduced interest expenses.

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