ICMB Overview

Financial Results Overview: Investcorp Credit Management BDC, Inc. reported a net asset value decrease to $5.04 per share and a net decrease in net assets from operations of $1.3 million for the quarter ending September 30, 2025. The company declared a distribution of $0.12 per share, along with a supplemental distribution of $0.02 per share, both payable on December 12, 2025.

Investment Activity: During the quarter, the company made a $0.02 million investment in an existing portfolio company and realized $6.5 million from two portfolio companies, achieving an internal rate of return of 12.67%. The investment portfolio consisted of 41 companies, with a weighted average yield on debt investments at 10.87%.

Capital Resources and Commitments: As of September 30, 2025, the company had $11.6 million in cash and $36.5 million in unused capacity under its revolving credit facility. A commitment from Investcorp Capital plc was approved to provide support for refinancing the company's 4.875% notes due in April 2026.

Market Outlook and Strategy: The company emphasized the importance of selectivity in investment decisions amid compressed spreads, focusing on disciplined underwriting and capital protection. The investment adviser continues to monitor taxable earnings to determine the nature of future distributions.

Earnings Call Overview: Investcorp Credit Management BDC held its Q4 2025 earnings conference call on August 13, 2025, featuring key participants including CFO Andrew Muns and CEO Suhail Ahmad Shaikh.

Call Structure: The call included a business and portfolio summary by Suhail Shaikh, followed by a financial overview from Andrew Muns, concluding with a question-and-answer session.

Forward-Looking Statements: Participants were reminded that the call may contain forward-looking statements, with actual results potentially differing from projections, and updates will only occur as legally required.

Access to Information: Audio replays of the call and copies of the latest SEC filings can be accessed through the company's Investor Relations page on their website.

Financial Performance: Investcorp Credit Management BDC, Inc. reported a net investment income of $0.8 million for the quarter ending June 30, 2025, with a distribution of $0.12 per share declared for the upcoming quarter, alongside a supplemental distribution of $0.02 per share. The company's net asset value decreased to $5.27 per share.

Investment Activities: During the quarter, ICMB made investments totaling $19.0 million in one new and four existing portfolio companies, realizing $9.5 million from three portfolio companies. The weighted average yield on debt investments was 10.57%, while the company maintained strong credit quality despite market challenges.

Earnings Release Announcement: Investcorp Credit Management BDC, Inc. will release its financial results for Q2 2025 on August 12, 2025, and host a conference call on August 13, 2025, at 10:00 am ET for discussion and Q&A.

Company Overview: The company is a non-diversified management investment firm focused on maximizing returns through investments in debt and equity of middle-market companies, managed by CM Investment Partners LLC.

Q1 Financial Performance: Investcorp Credit Management BDC reported a Q1 GAAP EPS of $0.15, with revenues declining by 34% year-over-year to $4.37 million, while net asset value increased slightly to $5.42 per share.

Cash and Credit Capacity: As of March 31, 2025, the company held $13.0 million in cash (with $10.7 million restricted) and had $44.0 million available under its revolving credit facility with Capital One, N.A.

Financial Performance Overview: Investcorp Credit Management BDC, Inc. reported a net increase in net assets of $2.2 million for the quarter ending March 31, 2025, with a distribution of $0.12 per share declared, reflecting a 14.95% yield based on its share price at that time.

Investment Activity and Portfolio Status: The company made investments totaling $5.1 million in one new and two existing portfolio companies, while also realizing $5.7 million from three portfolio companies, resulting in a weighted average yield on debt investments of 10.78%.