% Average Annual Total Returns1,2 | Inception Date | Six Months | One Year | Five Years | Ten Years |
Fund at NAV | 11/28/2003 | 8.43% | 0.74% | 3.66% | 4.72% |
Fund at Market Price | — | 8.27 | (2.49) | 2.47 | 2.86 |
Morningstar® LSTA® US Leveraged Loan IndexSM | — | 6.00% | 3.39% | 3.76% | 3.81% |
% Premium/Discount to NAV3 | |
As of period end | (9.25)% |
Distributions4 | |
Total Distributions per share for the period | $0.547 |
Distribution Rate at NAV | 9.72% |
Distribution Rate at Market Price | 10.72 |
% Total Leverage5 | |
Auction Preferred Shares (APS) | 13.38% |
Borrowings | 21.18 |
Top 10 Issuers (% of total investments)1 | |
Asurion, LLC | 1.1% |
Virgin Media Bristol, LLC | 1.0 |
Ultimate Software Group, Inc. (The) | 1.0 |
Finastra USA, Inc. | 0.9 |
Clarios Global, L.P. | 0.9 |
Carnival Corporation | 0.8 |
RealPage, Inc. | 0.8 |
Magenta Buyer, LLC | 0.8 |
Les Schwab Tire Centers | 0.8 |
Banff Merger Sub, Inc. | 0.8 |
Total | 8.9% |
Top 10 Sectors (% of total investments)1 | |
Software | 16.0% |
Health Care Providers & Services | 6.1 |
Machinery | 5.6 |
Chemicals | 4.3 |
Commercial Services & Supplies | 3.7 |
IT Services | 3.6 |
Capital Markets | 3.6 |
Hotels, Restaurants & Leisure | 3.4 |
Specialty Retail | 3.3 |
Professional Services | 2.8 |
Total | 52.4% |
Credit Quality (% of bonds, loans and asset-backed securities)2 |
1 | Excludes cash and cash equivalents. |
2 | Credit ratings are categorized using S&P Global Ratings (“S&P”). Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer’s creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P’s measures. Ratings of BBB or higher by S&P are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency’s analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer’s current financial condition and does not necessarily reflect its assessment of the volatility of a security’s market value or of the liquidity of an investment in the security. Holdings designated as “Not Rated” (if any) are not rated by S&P. |
1 | Morningstar® LSTA® US Leveraged Loan IndexSM is an unmanaged index of the institutional leveraged loan market. Morningstar® LSTA® Leveraged Loan indices are a product of Morningstar, Inc. (“Morningstar”) and have been licensed for use. Morningstar® is a registered trademark of Morningstar licensed for certain use. Loan Syndications and Trading Association® and LSTA® are trademarks of the LSTA licensed for certain use by Morningstar, and further sublicensed by Morningstar for certain use. Neither Morningstar nor LSTA guarantees the accuracy and/or completeness of the Morningstar® LSTA® US Leveraged Loan IndexSM or any data included therein, and shall have no liability for any errors, omissions, or interruptions therein. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 | Performance results reflect the effects of leverage. The Fund’s performance for certain periods reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Included in the average annual total return at NAV for the five and ten year periods is the impact of the tender and repurchase of a portion of the Fund’s APS at 92% and 95% of the Fund’s APS per share liquidation preference. Had these transactions not occurred, the total return at NAV would be lower for the Fund. |
3 | The shares of the Fund often trade at a discount or premium to their net asset value. The discount or premium may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to https://funds.eatonvance.com/closed-end-fund-prices.php. |
4 | The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a) posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance. com. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change. |
5 | Leverage represents the liquidation value of the Fund’s APS and borrowings outstanding as a percentage of Fund net assets applicable to common shares plus APS and borrowings outstanding. Use of leverage creates an opportunity for income, but creates risks including greater price volatility. The cost of leverage rises and falls with changes in short-term interest rates. The Fund may be required to |
maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time. |
Fund profile subject to change due to active management. | |
Important Notice to Shareholders | |
On January 26, 2023, the Fund's Board of Trustees voted to exempt, on a going forward basis, all prior and, until further notice, new acquisitions of Fund shares that otherwise might be deemed “Control Share Acquisitions” under the Fund's By-Laws from the Control Share Provisions of the Fund's By-Laws. |
Asset-Backed Securities — 7.5% |
Security | Principal Amount (000's omitted) | Value | |
AIG CLO, Ltd., Series 2019-1A, Class ER, 11.682%, (3 mo. SOFR + 6.70%), 4/18/35(1)(2) | $ | 1,000 | $ 937,846 |
Ares XXXIIR CLO, Ltd., Series 2014-32RA, Class D, 10.714%, (3 mo. USD LIBOR + 5.85%), 5/15/30(1)(2) | 2,000 | 1,647,720 | |
Ares XXXIV CLO, Ltd., Series 2015-2A, Class ER, 12.11%, (3 mo. USD LIBOR + 6.85%), 4/17/33(1)(2) | 1,150 | 997,789 | |
Benefit Street Partners CLO XIX, Ltd., Series 2019-19A, Class E, 12.28%, (3 mo. USD LIBOR + 7.02%), 1/15/33(1)(2) | 750 | 706,148 | |
Benefit Street Partners CLO XVIII, Ltd., Series 2019-18A, Class ER, 12.01%, (3 mo. USD LIBOR + 6.75%), 10/15/34(1)(2) | 1,000 | 931,373 | |
Benefit Street Partners CLO XXII, Ltd., Series 2020-22A, Class ER, 11.979%, (3 mo. SOFR + 6.93%), 4/20/35(1)(2) | 1,000 | 938,099 | |
BlueMountain CLO XXVI, Ltd., Series 2019-26A, Class ER, 12.38%, (3 mo. USD LIBOR + 7.13%), 10/20/34(1)(2) | 1,500 | 1,415,214 | |
Canyon Capital CLO, Ltd.: | |||
Series 2019-2A, Class ER, 12.01%, (3 mo. USD LIBOR + 6.75%), 10/15/34(1)(2) | 400 | 367,227 | |
Series 2022-1A, Class E, 11.382%, (3 mo. SOFR + 6.40%), 4/15/35(1)(2) | 1,250 | 1,111,856 | |
Carlyle Global Market Strategies CLO, Ltd.: | |||
Series 2012-3A, Class DR2, 11.751%, (3 mo. USD LIBOR + 6.50%), 1/14/32(1)(2) | 1,200 | 980,641 | |
Series 2015-5A, Class DR, 11.95%, (3 mo. USD LIBOR + 6.70%), 1/20/32(1)(2) | 500 | 409,387 | |
Cedar Funding X CLO, Ltd., Series 2019-10A, Class ER, 11.75%, (3 mo. USD LIBOR + 6.50%), 10/20/32(1)(2) | 1,000 | 910,493 | |
Galaxy XV CLO, Ltd., Series 2013-15A, Class ER, 11.905%, (3 mo. USD LIBOR + 6.65%), 10/15/30(1)(2) | 1,000 | 846,574 | |
Galaxy XXI CLO, Ltd., Series 2015-21A, Class ER, 10.50%, (3 mo. USD LIBOR + 5.25%), 4/20/31(1)(2) | 1,000 | 861,130 | |
Galaxy XXV CLO, Ltd., Series 2018-25A, Class E, 11.205%, (3 mo. USD LIBOR + 5.95%), 10/25/31(1)(2) | 250 | 222,027 | |
Golub Capital Partners CLO 23M, Ltd., Series 2015-23A, Class ER, 11.00%, (3 mo. USD LIBOR + 5.75%), 1/20/31(1)(2) | 1,200 | 997,521 | |
Golub Capital Partners CLO 50B-R, Ltd., Series 2020-50A, Class ER, 12.149%, (3 mo. SOFR + 7.10%), 4/20/35(1)(2) | 1,000 | 914,008 |
Security | Principal Amount (000's omitted) | Value | |
Madison Park Funding XXXVI, Ltd., Series 2019-36A, Class ER, 12.036%, (3 mo. SOFR + 7.05%), 4/15/35(1)(2) | $ | 1,000 | $ 944,692 |
Neuberger Berman Loan Advisers CLO 48, Ltd., Series 2022-48A, Class E, 11.568%, (3 mo. SOFR + 6.50%), 4/25/36(1)(2) | 1,000 | 917,816 | |
Palmer Square CLO, Ltd.: | |||
Series 2013-2A, Class DRR, 11.11%, (3 mo. USD LIBOR + 5.85%), 10/17/31(1)(2) | 900 | 814,543 | |
Series 2014-1A, Class DR2, 10.96%, (3 mo. USD LIBOR + 5.70%), 1/17/31(1)(2) | 1,500 | 1,339,273 | |
Series 2015-1A, Class DR4, 11.415%, (3 mo. USD LIBOR + 6.50%), 5/21/34(1)(2) | 500 | 427,182 | |
Series 2019-1A, Class DR, 11.369%, (3 mo. USD LIBOR + 6.50%), 11/14/34(1)(2) | 1,000 | 942,179 | |
RAD CLO 5, Ltd., Series 2019-5A, Class E, 11.973%, (3 mo. USD LIBOR + 6.70%), 7/24/32(1)(2) | 1,000 | 873,075 | |
RAD CLO 7, Ltd., Series 2020-7A, Class E, 11.76%, (3 mo. USD LIBOR + 6.50%), 4/17/33(1)(2) | 1,150 | 1,093,812 | |
Regatta XIV Funding, Ltd., Series 2018-3A, Class E, 11.205%, (3 mo. USD LIBOR + 5.95%), 10/25/31(1)(2) | 700 | 593,223 | |
Regatta XVI Funding, Ltd., Series 2019-2A, Class E, 12.26%, (3 mo. USD LIBOR + 7.00%), 1/15/33(1)(2) | 750 | 709,496 | |
Vibrant CLO X, Ltd., Series 2018-10A, Class D, 11.50%, (3 mo. SOFR + 6.45%), 10/20/31(1)(2) | 775 | 602,780 | |
Vibrant CLO XI, Ltd., Series 2019-11A, Class D, 12.02%, (3 mo. USD LIBOR + 6.77%), 7/20/32(1)(2) | 1,000 | 834,802 | |
Voya CLO, Ltd., Series 2013-1A, Class DR, 11.74%, (3 mo. USD LIBOR + 6.48%), 10/15/30(1)(2) | 2,000 | 1,497,470 | |
Wellfleet CLO, Ltd., Series 2020-1A, Class D, 12.50%, (3 mo. USD LIBOR + 7.24%), 4/15/33(1)(2) | 1,150 | 975,403 | |
Total Asset-Backed Securities (identified cost $31,365,376) | $ 27,760,799 |
Closed-End Funds — 1.7% |
Security | Shares | Value | |
BlackRock Floating Rate Income Strategies Fund, Inc. | 99,936 | $ 1,186,240 | |
Invesco Senior Income Trust | 361,124 | 1,350,604 | |
Nuveen Credit Strategies Income Fund | 365,228 | 1,855,358 | |
Nuveen Floating Rate Income Fund | 148,079 | 1,202,402 | |
Nuveen Floating Rate Income Opportunity Fund | 103,281 | 815,920 | |
Total Closed-End Funds (identified cost $8,822,714) | $ 6,410,524 |
Common Stocks — 0.4% |
Security | Shares | Value | |
Aerospace and Defense — 0.1% | |||
IAP Global Services, LLC(3)(4)(5) | 55 | $ 247,824 | |
$ 247,824 | |||
Electronics/Electrical — 0.0%(6) | |||
Riverbed Technology, Inc.(4)(5) | 327 | $ 164 | |
Skillsoft Corp.(4)(5) | 53,012 | 65,205 | |
$ 65,369 | |||
Investment Companies — 0.1% | |||
Aegletes B.V.(4)(5) | 14,087 | $ 82,173 | |
Jubilee Topco, Ltd., Class A(3)(4)(5) | 458,953 | 0 | |
$ 82,173 | |||
Radio and Television — 0.1% | |||
Clear Channel Outdoor Holdings, Inc.(4)(5) | 86,335 | $ 109,645 | |
Cumulus Media, Inc., Class A(4)(5) | 38,163 | 134,143 | |
iHeartMedia, Inc., Class A(4)(5) | 36,714 | 127,398 | |
$ 371,186 | |||
Retailers (Except Food and Drug) — 0.0%(6) | |||
Phillips Pet Holding Corp.(3)(4)(5) | 556 | $ 42,140 | |
$ 42,140 | |||
Telecommunications — 0.1% | |||
GEE Acquisition Holdings Corp.(3)(4)(5) | 45,136 | $ 435,562 | |
$ 435,562 | |||
Total Common Stocks (identified cost $3,750,223) | $ 1,244,254 |
Convertible Preferred Stocks — 0.0%(6) |
Security | Shares | Value | |
Electronics/Electrical — 0.0%(6) | |||
Riverbed Technology, Inc., Series A, 6.50%, (1.50% cash, 5.00% PIK)(4)(5) | 107 | $ 27 | |
Total Convertible Preferred Stocks (identified cost $3,197) | $ 27 |
Corporate Bonds — 7.3% |
Security | Principal Amount (000's omitted) | Value | |
Aerospace and Defense — 0.2% | |||
TransDigm, Inc., 4.875%, 5/1/29 | $ | 625 | $ 568,674 |
$ 568,674 | |||
Automotive — 0.3% | |||
Clarios Global, L.P./Clarios US Finance Co., 8.50%, 5/15/27(1) | $ | 1,000 | $ 1,007,722 |
$ 1,007,722 | |||
Building and Development — 0.3% | |||
Smyrna Ready Mix Concrete, LLC, 6.00%, 11/1/28(1) | $ | 625 | $ 585,732 |
Standard Industries, Inc., 4.75%, 1/15/28(1) | 625 | 585,167 | |
$ 1,170,899 | |||
Business Equipment and Services — 0.6% | |||
GEMS MENASA Cayman, Ltd./GEMS Education Delaware, LLC, 7.125%, 7/31/26(1) | $ | 1,000 | $ 975,852 |
Prime Security Services Borrower, LLC/Prime Finance, Inc.: | |||
5.25%, 4/15/24(1) | 700 | 697,602 | |
5.75%, 4/15/26(1) | 700 | 695,620 | |
$ 2,369,074 | |||
Cable and Satellite Television — 0.1% | |||
CCO Holdings, LLC/CCO Holdings Capital Corp., 4.50%, 8/15/30(1) | $ | 625 | $ 525,500 |
$ 525,500 | |||
Chemicals and Plastics — 0.3% | |||
NOVA Chemicals Corp., 4.875%, 6/1/24(1) | $ | 1,000 | $ 985,553 |
$ 985,553 | |||
Cosmetics/Toiletries — 0.2% | |||
Edgewell Personal Care Co., 5.50%, 6/1/28(1) | $ | 625 | $ 599,036 |
$ 599,036 | |||
Distribution & Wholesale — 0.4% | |||
BCPE Empire Holdings, Inc., 7.625%, 5/1/27(1) | $ | 625 | $ 574,078 |
Performance Food Group, Inc., 5.50%, 10/15/27(1) | 1,000 | 981,047 | |
$ 1,555,125 |
Security | Principal Amount (000's omitted) | Value | |
Diversified Financial Services — 0.1% | |||
VistaJet Malta Finance PLC/XO Management Holding, Inc., 6.375%, 2/1/30(1) | $ | 625 | $ 541,397 |
$ 541,397 | |||
Engineering & Construction — 0.1% | |||
TopBuild Corp., 3.625%, 3/15/29(1) | $ | 625 | $ 540,080 |
$ 540,080 | |||
Entertainment — 0.3% | |||
Caesars Entertainment, Inc., 8.125%, 7/1/27(1) | $ | 1,000 | $ 1,021,222 |
$ 1,021,222 | |||
Financial Intermediaries — 0.2% | |||
Ford Motor Credit Co., LLC, 3.815%, 11/2/27 | $ | 1,000 | $ 898,175 |
$ 898,175 | |||
Food Service — 0.2% | |||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons L.P./Albertsons, LLC, 3.50%, 3/15/29(1) | $ | 625 | $ 554,419 |
$ 554,419 | |||
Health Care — 0.8% | |||
Centene Corp., 3.375%, 2/15/30 | $ | 1,000 | $ 883,860 |
LifePoint Health, Inc., 5.375%, 1/15/29(1) | 625 | 392,394 | |
Tenet Healthcare Corp., 6.875%, 11/15/31 | 1,000 | 980,915 | |
US Acute Care Solutions, LLC, 6.375%, 3/1/26(1) | 625 | 558,487 | |
$ 2,815,656 | |||
Home Furnishings — 0.1% | |||
Tempur Sealy International, Inc., 4.00%, 4/15/29(1) | $ | 625 | $ 547,434 |
$ 547,434 | |||
Insurance — 0.3% | |||
Alliant Holdings Intermediate, LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27(1) | $ | 625 | $ 584,255 |
AmWINS Group, Inc., 4.875%, 6/30/29(1) | 600 | 544,996 | |
$ 1,129,251 | |||
Leisure Goods/Activities/Movies — 0.3% | |||
NCL Corp., Ltd., 5.875%, 2/15/27(1) | $ | 550 | $ 519,331 |
Viking Cruises, Ltd., 5.875%, 9/15/27(1) | 625 | 536,928 | |
$ 1,056,259 |
Security | Principal Amount (000's omitted) | Value | |
Media — 0.3% | |||
Audacy Capital Corp., 6.50%, 5/1/27(1) | $ | 625 | $ 46,125 |
Diamond Sports Group, LLC/Diamond Sports Finance Co.: | |||
5.375%, 8/15/26(1)(7) | 0(8) | 7 | |
5.375%, 8/15/26(1)(7) | 2,864 | 195,076 | |
iHeartCommunications, Inc.: | |||
6.375%, 5/1/26 | 208 | 178,460 | |
8.375%, 5/1/27 | 376 | 248,695 | |
Sirius XM Radio, Inc., 4.00%, 7/15/28(1) | 625 | 528,334 | |
$ 1,196,697 | |||
Nonferrous Metals/Minerals — 0.1% | |||
New Gold, Inc., 7.50%, 7/15/27(1) | $ | 491 | $ 473,761 |
$ 473,761 | |||
Oil and Gas — 0.6% | |||
Neptune Energy Bondco PLC, 6.625%, 5/15/25(1) | $ | 1,000 | $ 987,070 |
Permian Resources Operating, LLC, 5.375%, 1/15/26(1) | 625 | 597,233 | |
Tap Rock Resources, LLC, 7.00%, 10/1/26(1) | 500 | 480,902 | |
$ 2,065,205 | |||
Pipelines — 0.1% | |||
EQM Midstream Partners, L.P., 4.75%, 1/15/31(1) | $ | 625 | $ 512,966 |
$ 512,966 | |||
Real Estate Investment Trusts (REITs) — 0.2% | |||
HAT Holdings I, LLC/HAT Holdings II, LLC, 3.375%, 6/15/26(1) | $ | 625 | $ 555,442 |
$ 555,442 | |||
Retail — 0.2% | |||
Fertitta Entertainment, LLC/Fertitta Entertainment Finance Co., Inc., 6.75%, 1/15/30(1) | $ | 625 | $ 506,869 |
Kohl's Corp., 3.625%, 5/1/31 | 284 | 193,996 | |
$ 700,865 | |||
Retailers (Except Food and Drug) — 0.3% | |||
Dave & Buster's, Inc., 7.625%, 11/1/25(1) | $ | 500 | $ 508,860 |
PetSmart, Inc./PetSmart Finance Corp., 7.75%, 2/15/29(1) | 500 | 493,518 | |
$ 1,002,378 |
Security | Principal Amount (000's omitted) | Value | |
Technology — 0.1% | |||
Athenahealth Group, Inc., 6.50%, 2/15/30(1) | $ | 625 | $ 513,943 |
$ 513,943 | |||
Telecommunications — 0.3% | |||
Connect Finco S.a.r.l./Connect US Finco, LLC, 6.75%, 10/1/26(1) | $ | 1,000 | $ 954,373 |
$ 954,373 | |||
Utilities — 0.2% | |||
NRG Energy, Inc., 3.625%, 2/15/31(1) | $ | 1,000 | $ 810,939 |
$ 810,939 | |||
Wireless Telecommunication Services — 0.1% | |||
Digicel International Finance, Ltd./Digicel International Holdings, Ltd., 8.75%, 5/25/24(1) | $ | 550 | $ 498,608 |
$ 498,608 | |||
Total Corporate Bonds (identified cost $30,810,067) | $ 27,170,653 |
Senior Floating-Rate Loans — 133.6%(9) |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Aerospace and Defense — 1.8% | |||
Aernnova Aerospace S.A.U.: | |||
Term Loan, 5.436%, (6 mo. EURIBOR + 3.00%), 2/26/27 | EUR | 398 | $ 414,393 |
Term Loan, 5.625%, (6 mo. EURIBOR + 3.00%), 2/26/27 | EUR | 102 | 106,255 |
AI Convoy (Luxembourg) S.a.r.l., Term Loan, 7.078%, (6 mo. EURIBOR + 3.50%), 1/18/27 | EUR | 400 | 416,518 |
Dynasty Acquisition Co., Inc.: | |||
Term Loan, 8.582%, (SOFR + 3.50%), 4/6/26 | 1,843 | 1,813,556 | |
Term Loan, 8.582%, (SOFR + 3.50%), 4/6/26 | 991 | 975,367 | |
IAP Worldwide Services, Inc., Term Loan - Second Lien, 11.659%, (3 mo. USD LIBOR + 6.50%), 7/18/23(3) | 392 | 310,732 | |
WP CPP Holdings, LLC, Term Loan, 9.03%, (3 mo. USD LIBOR + 3.75%), 4/30/25 | 2,977 | 2,739,143 | |
$ 6,775,964 | |||
Airlines — 1.0% | |||
American Airlines, Inc., Term Loan, 10.00%, (3 mo. USD LIBOR + 4.75%), 4/20/28 | 3,025 | $ 3,050,713 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Airlines (continued) | |||
Mileage Plus Holdings, LLC, Term Loan, 10.213%, (3 mo. USD LIBOR + 5.25%), 6/21/27 | 638 | $ 664,434 | |
$ 3,715,147 | |||
Apparel & Luxury Goods — 0.1% | |||
Hanesbrands, Inc., Term Loan, 8.732%, (SOFR + 3.75%), 3/8/30 | 350 | $ 348,687 | |
$ 348,687 | |||
Auto Components — 3.1% | |||
Adient US, LLC, Term Loan, 8.268%, (1 mo. USD LIBOR + 3.25%), 4/10/28 | 1,562 | $ 1,564,251 | |
Clarios Global, L.P.: | |||
Term Loan, 6.265%, (1 mo. EURIBOR + 3.25%), 4/30/26 | EUR | 947 | 1,032,976 |
Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 4/30/26 | 3,004 | 3,003,530 | |
DexKo Global, Inc.: | |||
Term Loan, 6.765%, (3 mo. EURIBOR + 3.75%), 10/4/28 | EUR | 74 | 75,154 |
Term Loan, 6.765%, (3 mo. EURIBOR + 3.75%), 10/4/28 | EUR | 240 | 242,892 |
Term Loan, 6.765%, (3 mo. EURIBOR + 3.75%), 10/4/28 | EUR | 461 | 467,075 |
Term Loan, 8.909%, (3 mo. USD LIBOR + 3.75%), 10/4/28 | 693 | 661,815 | |
Term Loan, 11.398%, (SOFR + 6.50%), 10/4/28 | 800 | 782,000 | |
Garrett LX I S.a.r.l., Term Loan, 8.657%, (3 mo. USD LIBOR + 3.25%), 4/30/28 | 714 | 703,413 | |
Garrett Motion, Inc., Term Loan, 4/28/30(10) | 950 | 922,688 | |
LTI Holdings, Inc., Term Loan, 9.775%, (1 mo. USD LIBOR + 4.75%), 7/24/26 | 542 | 530,483 | |
Truck Hero, Inc., Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 1/31/28 | 1,823 | 1,663,773 | |
$ 11,650,050 | |||
Automobiles — 0.5% | |||
MajorDrive Holdings IV, LLC: | |||
Term Loan, 9.00%, (3 mo. USD LIBOR + 4.00%), 6/1/28 | 614 | $ 599,287 | |
Term Loan, 10.556%, (SOFR + 5.50%), 6/1/29 | 1,460 | 1,409,141 | |
$ 2,008,428 | |||
Beverages — 1.0% | |||
Arterra Wines Canada, Inc., Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 11/24/27 | 978 | $ 957,339 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Beverages (continued) | |||
City Brewing Company, LLC, Term Loan, 8.76%, (3 mo. USD LIBOR + 3.50%), 4/5/28 | 689 | $ 286,982 | |
Triton Water Holdings, Inc., Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 3/31/28 | 2,407 | 2,288,063 | |
$ 3,532,384 | |||
Biotechnology — 0.2% | |||
Alkermes, Inc., Term Loan, 7.45%, (1 mo. USD LIBOR + 2.50%), 3/12/26 | 339 | $ 333,538 | |
Alltech, Inc., Term Loan, 9.097%, (SOFR + 4.00%), 10/13/28 | 395 | 383,150 | |
$ 716,688 | |||
Building Products — 1.9% | |||
Cornerstone Building Brands, Inc., Term Loan, 8.24%, (SOFR + 3.25%), 4/12/28 | 2,800 | $ 2,548,346 | |
LHS Borrower, LLC, Term Loan, 9.832%, (SOFR + 4.75%), 2/16/29 | 1,634 | 1,282,297 | |
MI Windows and Doors, LLC, Term Loan, 8.582%, (SOFR + 3.50%), 12/18/27 | 1,517 | 1,516,249 | |
Oscar AcquisitionCo, LLC, Term Loan, 9.498%, (SOFR + 4.50%), 4/29/29 | 796 | 771,225 | |
Standard Industries, Inc., Term Loan, 7.329%, (SOFR + 2.25%), 9/22/28 | 926 | 924,721 | |
$ 7,042,838 | |||
Capital Markets — 5.5% | |||
Advisor Group, Inc., Term Loan, 9.525%, (1 mo. USD LIBOR + 4.50%), 7/31/26 | 2,174 | $ 2,164,300 | |
AllSpring Buyer, LLC, Term Loan, 8.163%, (3 mo. USD LIBOR + 3.00%), 11/1/28 | 1,339 | 1,336,225 | |
Aretec Group, Inc.: | |||
Term Loan, 9.332%, (SOFR + 4.25%), 10/1/25 | 3,239 | 3,230,480 | |
Term Loan, 3/8/30(10) | 725 | 717,448 | |
Edelman Financial Center, LLC, Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 4/7/28 | 2,459 | 2,386,028 | |
EIG Management Company, LLC, Term Loan, 8.732%, (SOFR + 3.75%), 2/22/25 | 238 | 236,609 | |
Focus Financial Partners, LLC: | |||
Term Loan, 7.482%, (SOFR + 2.50%), 6/30/28 | 2,949 | 2,917,025 | |
Term Loan, 8.232%, (SOFR + 3.25%), 6/30/28 | 323 | 321,910 | |
HighTower Holdings, LLC, Term Loan, 9.01%, (1 mo. USD LIBOR + 4.00%), 4/21/28 | 1,995 | 1,917,010 | |
Hudson River Trading, LLC, Term Loan, 8.097%, (SOFR + 3.00%), 3/20/28 | 1,733 | 1,631,942 | |
Mariner Wealth Advisors, LLC, Term Loan, 8.404%, (SOFR + 3.25%), 8/18/28 | 1,651 | 1,616,377 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Capital Markets (continued) | |||
Victory Capital Holdings, Inc.: | |||
Term Loan, 7.287%, (SOFR + 2.25%), 7/1/26 | 845 | $ 841,783 | |
Term Loan, 12/29/28(10) | 1,000 | 991,875 | |
$ 20,309,012 | |||
Chemicals — 6.3% | |||
Aruba Investments, Inc.: | |||
Term Loan, 7.015%, (1 mo. EURIBOR + 4.00%), 11/24/27 | EUR | 490 | $ 529,133 |
Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 11/24/27 | 1,459 | 1,453,186 | |
Charter NEX US, Inc., Term Loan, 8.847%, (SOFR + 3.75%), 12/1/27 | 440 | 434,887 | |
Chemours Company (The), Term Loan, 5.02%, (3 mo. EURIBOR + 2.00%), 4/3/25 | EUR | 551 | 604,493 |
CPC Acquisition Corp., Term Loan, 8.91%, (SOFR + 3.75%), 12/29/27 | 674 | 516,768 | |
Flint Group GmbH, Term Loan, 10.273%, (3 mo. USD LIBOR + 5.00%), 9.523% cash, 0.75% PIK, 9/21/23 | 96 | 65,888 | |
Flint Group US, LLC, Term Loan, 10.272%, (3 mo. USD LIBOR + 5.00%), 9.522% cash, 0.75% PIK, 9/21/23 | 581 | 398,568 | |
Gemini HDPE, LLC, Term Loan, 8.292%, (3 mo. USD LIBOR + 3.00%), 12/31/27 | 679 | 679,372 | |
Groupe Solmax, Inc., Term Loan, 9.909%, (3 mo. USD LIBOR + 4.75%), 5/29/28 | 1,474 | 1,331,442 | |
INEOS Enterprises Holdings II Limited, Term Loan, 5.948%, (3 mo. EURIBOR + 3.25%), 8/31/26 | EUR | 175 | 192,109 |
INEOS Enterprises Holdings US Finco, LLC, Term Loan, 8.491%, (SOFR + 3.50%), 8/28/26 | 198 | 197,527 | |
INEOS Finance PLC, Term Loan, 5.765%, (1 mo. EURIBOR + 2.75%), 11/8/28 | EUR | 625 | 662,503 |
INEOS Quattro Holdings UK, Ltd.: | |||
Term Loan, 7.015%, (1 mo. EURIBOR + 4.00%), 3/14/30 | EUR | 275 | 299,992 |
Term Loan, 8.832%, (SOFR + 3.75%), 3/14/30 | 400 | 399,500 | |
INEOS Styrolution US Holding, LLC, Term Loan, 7.847%, (1 mo. USD LIBOR + 2.75%), 1/29/26 | 1,965 | 1,960,907 | |
INEOS US Finance, LLC: | |||
Term Loan, 7.015%, (1 mo. EURIBOR + 4.00%), 11/8/27 | EUR | 4 | 4,173 |
Term Loan, 7.582%, (SOFR + 2.50%), 11/8/28 | 520 | 510,190 | |
Term Loan, 8.568%, (SOFR + 3.50%), 2/18/30 | 725 | 724,849 | |
Kraton Corporation, Term Loan, 8.544%, (SOFR + 3.25%), 3/15/29 | 1,144 | 1,143,682 | |
Kraton Polymers Holdings B.V., Term Loan, 6.25%, (3 mo. EURIBOR + 3.25%), 3/15/29 | EUR | 300 | 322,994 |
Lonza Group AG, Term Loan, 9.159%, (3 mo. USD LIBOR + 4.00%), 7/3/28 | 2,432 | 2,251,953 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Chemicals (continued) | |||
LSF11 Skyscraper Holdco S.a.r.l., Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 9/29/27 | 613 | $ 612,099 | |
Momentive Performance Materials, Inc., Term Loan, 9.482%, (SOFR + 4.50%), 3/29/28 | 800 | 798,500 | |
Olympus Water US Holding Corporation: | |||
Term Loan, 8.938%, (3 mo. USD LIBOR + 3.75%), 11/9/28 | 1,481 | 1,409,409 | |
Term Loan, 9.498%, (SOFR + 4.50%), 11/9/28 | 322 | 309,282 | |
Orion Engineered Carbons GmbH, Term Loan, 7.309%, (3 mo. USD LIBOR + 2.15%), 9/24/28 | 320 | 313,923 | |
Rohm Holding GmbH, Term Loan, 10.102%, (3 mo. USD LIBOR + 5.00%), 7/31/26 | 1,443 | 1,229,117 | |
SCUR-Alpha 1503 GmbH, Term Loan, 3/30/30(10) | 475 | 432,250 | |
Starfruit Finco B.V.: | |||
Term Loan, 5.978%, (3 mo. EURIBOR + 3.00%), 10/1/25 | EUR | 401 | 435,789 |
Term Loan, 8.99%, (SOFR + 4.00%), 4/3/28 | 600 | 600,000 | |
W.R. Grace & Co.-Conn., Term Loan, 8.938%, (3 mo. USD LIBOR + 3.75%), 9/22/28 | 2,419 | 2,425,423 | |
$ 23,249,908 | |||
Commercial Services & Supplies — 5.2% | |||
Allied Universal Holdco, LLC, Term Loan, 8.832%, (SOFR + 3.75%), 5/12/28 | 3,870 | $ 3,740,826 | |
Belfor Holdings, Inc.: | |||
Term Loan, 4/6/26(10) | 300 | 300,000 | |
Term Loan, 9.025%, (1 mo. USD LIBOR + 4.00%), 4/6/26 | 481 | 481,852 | |
EnergySolutions, LLC, Term Loan, 8.909%, (3 mo. USD LIBOR + 3.75%), 5/9/25 | 1,633 | 1,583,181 | |
Garda World Security Corporation, Term Loan, 9.296%, (SOFR + 4.25%), 10/30/26 | 2,408 | 2,406,603 | |
GFL Environmental, Inc., Term Loan, 8.145%, (SOFR + 3.00%), 5/28/27 | 49 | 48,978 | |
LABL, Inc., Term Loan, 10.082%, (1 mo. USD LIBOR + 5.00%), 10/29/28 | 617 | 609,543 | |
Monitronics International, Inc., Term Loan, 12.773%, (3 mo. USD LIBOR + 7.50%), 3/29/24 | 1,380 | 745,090 | |
PECF USS Intermediate Holding III Corporation, Term Loan, 9.541%, (USD LIBOR + 4.25%), 12/15/28(11) | 1,506 | 1,246,752 | |
Phoenix Services International, LLC: | |||
DIP Loan, 14.97%, (SOFR + 12.00%), 5/29/23(11) | 97 | 92,870 | |
DIP Loan, 16.982%, (SOFR + 12.00%), 5/29/23 | 201 | 192,975 | |
Term Loan, 0.00%, 3/1/25(7) | 627 | 71,757 | |
Prime Security Services Borrower, LLC, Term Loan, 7.608%, (1 mo. USD LIBOR + 2.75%), 9/23/26 | 1,998 | 1,997,929 | |
SITEL Worldwide Corporation, Term Loan, 8.76%, (1 mo. USD LIBOR + 3.75%), 8/28/28 | 2,290 | 2,285,258 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Commercial Services & Supplies (continued) | |||
Tempo Acquisition, LLC, Term Loan, 7.982%, (SOFR + 3.00%), 8/31/28 | 1,541 | $ 1,541,865 | |
TruGreen Limited Partnership, Term Loan, 9.082%, (1 mo. USD LIBOR + 4.00%), 11/2/27 | 2,036 | 1,881,987 | |
$ 19,227,466 | |||
Communications Equipment — 0.1% | |||
Digi International, Inc., Term Loan, 10.025%, (1 mo. USD LIBOR + 5.00%), 11/1/28 | 327 | $ 325,746 | |
$ 325,746 | |||
Construction Materials — 0.7% | |||
Quikrete Holdings, Inc., Term Loan, 8.025%, (1 mo. USD LIBOR + 3.00%), 3/18/29 | 2,475 | $ 2,468,233 | |
$ 2,468,233 | |||
Consumer Staples Distribution & Retail — 0.2% | |||
Peer Holding III B.V., Term Loan, 9/29/28(10) | EUR | 525 | $ 571,628 |
$ 571,628 | |||
Containers & Packaging — 1.9% | |||
Berlin Packaging, LLC, Term Loan, 8.616%, (USD LIBOR + 3.75%), 3/11/28(11) | 1,034 | $ 1,015,666 | |
Clydesdale Acquisition Holdings, Inc., Term Loan, 9.257%, (SOFR + 4.18%), 4/13/29 | 2,486 | 2,434,337 | |
Pregis TopCo Corporation, Term Loan, 8.847%, (SOFR + 3.75%), 7/31/26 | 581 | 572,881 | |
Pretium PKG Holdings, Inc.: | |||
Term Loan, 9.167%, (3 mo. USD LIBOR + 4.00%), 10/2/28 | 518 | 415,861 | |
Term Loan - Second Lien, 11.864%, (3 mo. USD LIBOR + 6.75%), 10/1/29 | 300 | 186,000 | |
Proampac PG Borrower, LLC, Term Loan, 8.976%, (USD LIBOR + 3.75%), 11/3/25(11) | 589 | 581,299 | |
Trident TPI Holdings, Inc.: | |||
Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 10/17/24 | 522 | 521,664 | |
Term Loan, 9/15/28(10) | 750 | 729,844 | |
Term Loan, 9/15/28(10) | 525 | 512,695 | |
$ 6,970,247 | |||
Distributors — 0.9% | |||
Autokiniton US Holdings, Inc., Term Loan, 9.597%, (SOFR + 4.50%), 4/6/28 | 3,148 | $ 3,096,789 | |
Phillips Feed Service, Inc., Term Loan, 12.01%, (1 mo. USD LIBOR + 7.00%), 11/13/24(3) | 102 | 81,284 | |
$ 3,178,073 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Diversified Consumer Services — 1.1% | |||
Ascend Learning, LLC, Term Loan, 8.582%, (SOFR + 3.50%), 12/11/28 | 543 | $ 496,733 | |
KUEHG Corp.: | |||
Term Loan, 8.909%, (3 mo. USD LIBOR + 3.75%), 2/21/25 | 2,849 | 2,834,421 | |
Term Loan - Second Lien, 13.409%, (3 mo. USD LIBOR + 8.25%), 8/22/25 | 400 | 391,500 | |
Sotheby's, Term Loan, 9.76%, (3 mo. USD LIBOR + 4.50%), 1/15/27 | 406 | 405,561 | |
$ 4,128,215 | |||
Diversified Financial Services — 0.6% | |||
Concorde Midco, Ltd., Term Loan, 7.052%, (3 mo. EURIBOR + 4.00%), 3/1/28 | EUR | 525 | $ 565,120 |
Sandy BidCo B.V., Term Loan, 6.968%, (1 mo. EURIBOR + 4.00%), 8/17/29 | EUR | 925 | 986,132 |
Zephyr Bidco Limited, Term Loan, 8.96%, (SONIA + 4.75%), 7/23/25 | GBP | 700 | 830,021 |
$ 2,381,273 | |||
Diversified Telecommunication Services — 3.4% | |||
Altice France S.A., Term Loan, 10.486%, (SOFR + 5.50%), 8/15/28 | 1,892 | $ 1,789,893 | |
GEE Holdings 2, LLC: | |||
Term Loan, 13.018%, (3 mo. USD LIBOR + 8.00%), 3/24/25 | 398 | 390,366 | |
Term Loan - Second Lien, 13.268%, (3 mo. USD LIBOR + 8.25%), 3/23/26 | 879 | 542,687 | |
UPC Broadband Holding B.V.: | |||
Term Loan, 5.434%, (1 mo. EURIBOR + 2.50%), 4/30/29 | EUR | 725 | 781,902 |
Term Loan, 7.198%, (1 mo. USD LIBOR + 2.25%), 4/30/28 | 825 | 811,078 | |
UPC Financing Partnership, Term Loan, 7.873%, (1 mo. USD LIBOR + 2.93%), 1/31/29 | 1,397 | 1,379,982 | |
Virgin Media Bristol, LLC, Term Loan, 8.198%, (1 mo. USD LIBOR + 3.25%), 1/31/29 | 5,675 | 5,630,309 | |
Zayo Group Holdings, Inc., Term Loan, 6.265%, (1 mo. EURIBOR + 3.25%), 3/9/27 | EUR | 1,397 | 1,290,769 |
$ 12,616,986 | |||
Electrical Equipment — 0.4% | |||
AZZ, Inc., Term Loan, 9.247%, (SOFR + 4.25%), 5/13/29 | 1,314 | $ 1,315,498 | |
$ 1,315,498 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Electronic Equipment, Instruments & Components — 1.8% | |||
Chamberlain Group, Inc., Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 11/3/28 | 1,308 | $ 1,272,251 | |
Creation Technologies, Inc., Term Loan, 10.723%, (3 mo. USD LIBOR + 5.50%), 10/5/28 | 1,339 | 1,185,004 | |
DG Investment Intermediate Holdings 2, Inc., Term Loan, 8.775%, (SOFR + 3.75%), 3/31/28 | 983 | 964,929 | |
Mirion Technologies, Inc., Term Loan, 7.775%, (1 mo. USD LIBOR + 2.75%), 10/20/28 | 504 | 503,428 | |
Robertshaw US Holding Corp., Term Loan, 8.688%, (3 mo. USD LIBOR + 3.50%), 2/28/25 | 926 | 500,175 | |
Verifone Systems, Inc., Term Loan, 8.958%, (3 mo. USD LIBOR + 4.00%), 8/20/25 | 1,099 | 951,968 | |
Verisure Holding AB: | |||
Term Loan, 6.262%, (3 mo. EURIBOR + 3.25%), 3/27/28 | EUR | 775 | 822,220 |
Term Loan, 6.461%, (3 mo. EURIBOR + 3.25%), 7/20/26 | EUR | 300 | 321,619 |
$ 6,521,594 | |||
Energy Equipment & Services — 0.0%(6) | |||
Ameriforge Group, Inc., Term Loan, 16.106%, (USD LIBOR + 13.00%), 2/1/26(3)(12) | 53 | $ 47,843 | |
$ 47,843 | |||
Engineering & Construction — 1.6% | |||
Aegion Corporation, Term Loan, 9.775%, (1 mo. USD LIBOR + 4.75%), 5/17/28 | 1,265 | $ 1,245,060 | |
Amentum Government Services Holdings, LLC, Term Loan, 8.906%, (SOFR + 4.00%), 2/15/29 | 645 | 622,546 | |
American Residential Services, LLC, Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 10/15/27 | 562 | 557,847 | |
Northstar Group Services, Inc., Term Loan, 10.597%, (SOFR + 5.50%), 11/12/26 | 1,395 | 1,391,434 | |
USIC Holdings, Inc., Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 5/12/28 | 2,266 | 2,225,147 | |
$ 6,042,034 | |||
Entertainment — 2.3% | |||
AMC Entertainment Holdings, Inc., Term Loan, 7.946%, (1 mo. USD LIBOR + 3.00%), 4/22/26 | 1,704 | $ 1,311,814 | |
City Football Group Limited, Term Loan, 8.273%, (3 mo. USD LIBOR + 3.00%), 7/21/28 | 1,975 | 1,935,500 | |
Crown Finance US, Inc.: | |||
DIP Loan, 15.049%, (SOFR + 10.10%), 9/7/23(11) | 1,382 | 1,409,812 | |
Term Loan, 0.00%, 9/30/26(7) | 1,365 | 261,051 | |
EP Purchaser, LLC, Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 11/6/28 | 347 | 345,764 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Entertainment (continued) | |||
Renaissance Holding Corp.: | |||
Term Loan, 9.732%, (1 mo. USD LIBOR + 4.75%), 4/5/30 | 925 | $ 909,680 | |
Term Loan - Second Lien, 12.025%, (1 mo. USD LIBOR + 7.00%), 5/29/26 | 175 | 172,247 | |
UFC Holdings, LLC, Term Loan, 8.05%, (3 mo. USD LIBOR + 2.75%), 4/29/26 | 1,734 | 1,732,254 | |
Vue International Bidco PLC: | |||
Term Loan, 11.086%, (6 mo. EURIBOR + 8.00%), 6/30/27 | EUR | 69 | 69,461 |
Term Loan, 11.359%, (6 mo. EURIBOR + 8.00%), 4.859% cash, 6.50% PIK, 12/31/27 | EUR | 465 | 281,662 |
$ 8,429,245 | |||
Food Products — 1.1% | |||
8th Avenue Food & Provisions, Inc., Term Loan, 9.768%, (1 mo. USD LIBOR + 4.75%), 10/1/25 | 493 | $ 441,403 | |
Badger Buyer Corp., Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 9/30/24 | 331 | 265,702 | |
CHG PPC Parent, LLC, Term Loan, 8.063%, (1 mo. USD LIBOR + 3.00%), 12/8/28 | 396 | 392,535 | |
Del Monte Foods, Inc., Term Loan, 9.314%, (SOFR + 4.25%), 5/16/29 | 399 | 392,616 | |
Monogram Food Solutions, LLC, Term Loan, 9.063%, (1 mo. USD LIBOR + 4.00%), 8/28/28 | 444 | 433,266 | |
Shearer's Foods, Inc., Term Loan, 8.597%, (SOFR + 3.50%), 9/23/27 | 390 | 382,588 | |
Sovos Brands Intermediate, Inc., Term Loan, 8.773%, (3 mo. USD LIBOR + 3.50%), 6/8/28 | 893 | 885,674 | |
United Petfood Group B.V., Term Loan, 6.038%, (3 mo. EURIBOR + 2.75%), 4/23/28 | EUR | 700 | 742,405 |
$ 3,936,189 | |||
Gas Utilities — 0.8% | |||
CQP Holdco, L.P., Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 6/5/28 | 2,903 | $ 2,901,122 | |
$ 2,901,122 | |||
Health Care Equipment & Supplies — 1.9% | |||
Artivion, Inc., Term Loan, 8.66%, (SOFR + 3.50%), 6/1/27 | 474 | $ 441,180 | |
Bayou Intermediate II, LLC, Term Loan, 9.296%, (3 mo. USD LIBOR + 4.50%), 8/2/28 | 790 | 742,600 | |
Gloves Buyer, Inc., Term Loan, 9.025%, (1 mo. USD LIBOR + 4.00%), 12/29/27 | 1,622 | 1,557,516 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Health Care Equipment & Supplies (continued) | |||
Journey Personal Care Corp., Term Loan, 9.409%, (3 mo. USD LIBOR + 4.25%), 3/1/28 | 2,508 | $ 1,955,890 | |
Medline Borrower, L.P., Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 10/23/28 | 2,475 | 2,406,784 | |
$ 7,103,970 | |||
Health Care Providers & Services — 8.8% | |||
AEA International Holdings (Lux) S.a.r.l., Term Loan, 8.938%, (3 mo. USD LIBOR + 3.75%), 9/7/28 | 1,612 | $ 1,608,138 | |
Biogroup-LCD, Term Loan, 5.602%, (3 mo. EURIBOR + 3.00%), 2/9/28 | EUR | 225 | 226,699 |
BW NHHC Holdco, Inc., Term Loan - Second Lien, 12.898%, (SOFR + 8.00%), 1/15/26 | 2,154 | 1,550,616 | |
Cano Health, LLC, Term Loan, 9.082%, (SOFR + 4.00%), 11/23/27 | 2,461 | 1,962,860 | |
CCRR Parent, Inc., Term Loan, 8.78%, (1 mo. USD LIBOR + 3.75%), 3/6/28 | 1,561 | 1,530,098 | |
Cerba Healthcare S.A.S.: | |||
Term Loan, 6.265%, (1 mo. EURIBOR + 3.25%), 6/30/28 | EUR | 450 | 455,319 |
Term Loan, 6.515%, (1 mo. EURIBOR + 3.50%), 2/15/29 | EUR | 500 | 518,090 |
CHG Healthcare Services, Inc., Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 9/29/28 | 1,659 | 1,651,737 | |
CNT Holdings I Corp., Term Loan, 8.459%, (SOFR + 3.50%), 11/8/27 | 1,523 | 1,511,096 | |
Covis Finco S.a.r.l., Term Loan, 11.548%, (SOFR + 6.50%), 2/18/27 | 808 | 462,294 | |
Electron BidCo, Inc., Term Loan, 8.097%, (SOFR + 3.00%), 11/1/28 | 668 | 662,890 | |
Envision Healthcare Corporation: | |||
Term Loan, 12.923%, (SOFR + 7.88%), 3/31/27 | 314 | 252,823 | |
Term Loan - Second Lien, 9.148%, (SOFR + 4.25%), 3/31/27 | 2,217 | 326,980 | |
IVC Acquisition, Ltd., Term Loan, 6.294%, (6 mo. EURIBOR + 4.00%), 2/13/26 | EUR | 1,325 | 1,402,124 |
LSCS Holdings, Inc., Term Loan, 9.525%, (1 mo. USD LIBOR + 4.50%), 12/16/28 | 617 | 602,529 | |
Medical Solutions Holdings, Inc., Term Loan, 8.241%, (SOFR + 3.25%), 11/1/28 | 2,485 | 2,414,323 | |
National Mentor Holdings, Inc.: | |||
Term Loan, 8.748%, (SOFR + 3.75%), 3/2/28 | 60 | 46,549 | |
Term Loan, 8.815%, (SOFR + 3.75%), 3/2/28(11) | 2,074 | 1,604,892 | |
Option Care Health, Inc., Term Loan, 7.775%, (1 mo. USD LIBOR + 2.75%), 10/27/28 | 346 | 345,625 | |
Pacific Dental Services, LLC, Term Loan, 8.51%, (1 mo. USD LIBOR + 3.50%), 5/5/28 | 540 | 539,249 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Health Care Providers & Services (continued) | |||
Pediatric Associates Holding Company, LLC: | |||
Term Loan, 7.517%, (1 mo. USD LIBOR + 3.25%), 12/29/28(12) | 161 | $ 159,188 | |
Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 12/29/28 | 1,058 | 1,046,269 | |
PetVet Care Centers, LLC, Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 2/14/25 | 294 | 283,745 | |
Phoenix Guarantor, Inc.: | |||
Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 3/5/26 | 2,947 | 2,901,887 | |
Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 3/5/26 | 1,425 | 1,402,897 | |
Radiology Partners, Inc., Term Loan, 9.347%, (SOFR + 4.25%), 7/9/25 | 1,213 | 898,682 | |
Radnet Management, Inc., Term Loan, 8.097%, (SOFR + 3.00%), 4/21/28 | 2,456 | 2,451,261 | |
Sound Inpatient Physicians, Term Loan, 8.273%, (3 mo. USD LIBOR + 3.00%), 6/27/25 | 429 | 326,291 | |
Surgery Center Holdings, Inc., Term Loan, 8.698%, (1 mo. USD LIBOR + 3.75%), 8/31/26 | 2,203 | 2,201,011 | |
Synlab Bondco PLC, Term Loan, 5.193%, (6 mo. EURIBOR + 2.50%), 7/1/27 | EUR | 300 | 327,058 |
U.S. Anesthesia Partners, Inc., Term Loan, 9.098%, (1 mo. USD LIBOR + 4.25%), 10/1/28 | 911 | 874,396 | |
$ 32,547,616 | |||
Health Care Technology — 2.9% | |||
Bracket Intermediate Holding Corp., Term Loan, 9.287%, (3 mo. USD LIBOR + 4.25%), 9/5/25 | 836 | $ 829,619 | |
Certara, L.P., Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 8/15/26 | 945 | 939,341 | |
eResearchTechnology, Inc., Term Loan, 9.597%, (SOFR + 4.50%), 2/4/27 | 318 | 302,767 | |
Imprivata, Inc.: | |||
Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 12/1/27 | 2,139 | 2,076,913 | |
Term Loan, 9.232%, (SOFR + 4.25%), 12/1/27 | 199 | 195,306 | |
MedAssets Software Intermediate Holdings, Inc.: | |||
Term Loan, 9.025%, (1 mo. USD LIBOR + 4.00%), 12/18/28 | 941 | 811,965 | |
Term Loan - Second Lien, 11.775%, (1 mo. USD LIBOR + 6.75%), 12/17/29 | 600 | 360,937 | |
Navicure, Inc., Term Loan, 9.025%, (1 mo. USD LIBOR + 4.00%), 10/22/26 | 1,395 | 1,393,746 | |
PointClickCare Technologies, Inc., Term Loan, 8.063%, (1 mo. USD LIBOR + 3.00%), 12/29/27 | 613 | 610,203 | |
Project Ruby Ultimate Parent Corp., Term Loan, 8.347%, (SOFR + 3.25%), 3/10/28 | 1,103 | 1,070,459 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Health Care Technology (continued) | |||
Symplr Software, Inc., Term Loan, 9.645%, (SOFR + 4.50%), 12/22/27 | 957 | $ 868,292 | |
Verscend Holding Corp., Term Loan, 9.025%, (1 mo. USD LIBOR + 4.00%), 8/27/25 | 1,446 | 1,446,227 | |
$ 10,905,775 | |||
Hotels, Restaurants & Leisure — 4.3% | |||
Carnival Corporation: | |||
Term Loan, 8.025%, (1 mo. USD LIBOR + 3.00%), 6/30/25 | 1,264 | $ 1,259,509 | |
Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 10/18/28 | 3,264 | 3,216,118 | |
ClubCorp Holdings, Inc., Term Loan, 7.775%, (1 mo. USD LIBOR + 2.75%), 9/18/24 | 1,473 | 1,395,225 | |
Dave & Buster's, Inc., Term Loan, 10.125%, (SOFR + 5.00%), 6/29/29 | 670 | 671,194 | |
Great Canadian Gaming Corporation, Term Loan, 8.947%, (3 mo. USD LIBOR + 4.00%), 11/1/26 | 1,514 | 1,503,157 | |
IRB Holding Corp., Term Loan, 8.082%, (SOFR + 3.00%), 12/15/27 | 2,451 | 2,416,607 | |
Oravel Stays Singapore Pte., Ltd., Term Loan, 13.27%, (3 mo. USD LIBOR + 8.25%), 6/23/26 | 590 | 511,391 | |
Playa Resorts Holding B.V., Term Loan, 9.14%, (SOFR + 4.25%), 1/5/29 | 2,045 | 2,044,306 | |
Scientific Games Holdings, L.P., Term Loan, 8.421%, (SOFR + 3.50%), 4/4/29 | 1,995 | 1,969,428 | |
SeaWorld Parks & Entertainment, Inc., Term Loan, 8.063%, (1 mo. USD LIBOR + 3.00%), 8/25/28 | 739 | 736,903 | |
SMG US Midco 2, Inc., Term Loan, 7.773%, (3 mo. USD LIBOR + 2.50%), 1/23/25 | 214 | 213,143 | |
$ 15,936,981 | |||
Household Durables — 1.6% | |||
ACProducts, Inc., Term Loan, 9.409%, (3 mo. USD LIBOR + 4.25%), 5/17/28 | 1,916 | $ 1,519,728 | |
Libbey Glass, Inc., Term Loan, 13.461%, (SOFR + 8.50%), 8.711% cash, 4.75% PIK, 11/22/27 | 667 | 669,920 | |
Serta Simmons Bedding, LLC: | |||
Term Loan, 0.00%, 8/10/23(7) | 1,047 | 1,037,987 | |
Term Loan - Second Lien, 0.00%, 8/10/23(7) | 2,419 | 1,439,572 | |
Solis IV B.V., Term Loan, 8.373%, (SOFR + 3.50%), 2/26/29 | 1,492 | 1,354,694 | |
$ 6,021,901 | |||
Household Products — 0.4% | |||
Kronos Acquisition Holdings, Inc.: | |||
Term Loan, 8.703%, (3 mo. USD LIBOR + 3.75%), 12/22/26 | 1,271 | $ 1,241,496 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Household Products (continued) | |||
Kronos Acquisition Holdings, Inc.: (continued) | |||
Term Loan, 11.023%, (SOFR + 6.00%), 12/22/26 | 346 | $ 341,305 | |
$ 1,582,801 | |||
Insurance — 3.2% | |||
Alliant Holdings Intermediate, LLC, Term Loan, 8.376%, (SOFR + 3.50%), 11/5/27 | 1,087 | $ 1,080,070 | |
AmWINS Group, Inc., Term Loan, 7.832%, (SOFR + 2.75%), 2/19/28 | 648 | 646,214 | |
AssuredPartners, Inc.: | |||
Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 2/12/27 | 1,375 | 1,354,071 | |
Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 2/12/27 | 1,376 | 1,358,592 | |
Financiere CEP S.A.S., Term Loan, 6.765%, (3 mo. EURIBOR + 3.75%), 6/18/27 | EUR | 500 | 538,692 |
NFP Corp., Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 2/15/27 | 2,161 | 2,120,193 | |
Ryan Specialty Group, LLC, Term Loan, 8.082%, (SOFR + 3.00%), 9/1/27 | 2,947 | 2,947,103 | |
USI, Inc., Term Loan, 8.409%, (3 mo. USD LIBOR + 3.25%), 12/2/26 | 1,965 | 1,965,578 | |
$ 12,010,513 | |||
Interactive Media & Services — 1.8% | |||
Adevinta ASA: | |||
Term Loan, 6.015%, (3 mo. EURIBOR + 3.00%), 6/26/28 | EUR | 837 | $ 921,461 |
Term Loan, 7.909%, (3 mo. USD LIBOR + 2.75%), 6/26/28 | 295 | 295,395 | |
Arches Buyer, Inc., Term Loan, 8.332%, (SOFR + 3.25%), 12/6/27 | 1,995 | 1,870,217 | |
Buzz Finco, LLC, Term Loan, 7.832%, (1 mo. USD LIBOR + 2.75%), 1/29/27 | 534 | 533,666 | |
Foundational Education Group, Inc., Term Loan, 8.91%, (SOFR + 3.75%), 8/31/28 | 1,457 | 1,281,775 | |
Getty Images, Inc., Term Loan, 9.503%, (SOFR + 4.50%), 2/19/26(11) | 1,070 | 1,072,006 | |
Match Group, Inc., Term Loan, 6.713%, (3 mo. USD LIBOR + 1.75%), 2/13/27 | 700 | 696,938 | |
$ 6,671,458 | |||
IT Services — 5.3% | |||
Asurion, LLC: | |||
Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 12/23/26 | 1,153 | $ 1,083,934 | |
Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 7/31/27 | 1,474 | 1,365,369 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
IT Services (continued) | |||
Asurion, LLC: (continued) | |||
Term Loan, 9.082%, (SOFR + 4.00%), 8/19/28 | 1,104 | $ 1,027,396 | |
Term Loan - Second Lien, 10.275%, (1 mo. USD LIBOR + 5.25%), 1/31/28 | 1,830 | 1,542,061 | |
Term Loan - Second Lien, 10.275%, (1 mo. USD LIBOR + 5.25%), 1/20/29 | 1,400 | 1,173,570 | |
Endure Digital, Inc., Term Loan, 8.792%, (3 mo. USD LIBOR + 3.50%), 2/10/28 | 4,016 | 3,772,020 | |
Gainwell Acquisition Corp., Term Loan, 8.998%, (SOFR + 4.00%), 10/1/27 | 3,834 | 3,702,589 | |
Indy US Bidco, LLC, Term Loan, 6.765%, (1 mo. EURIBOR + 3.75%), 3/6/28 | EUR | 589 | 554,615 |
NAB Holdings, LLC, Term Loan, 8.048%, (SOFR + 3.00%), 11/23/28 | 1,662 | 1,642,158 | |
Rackspace Technology Global, Inc., Term Loan, 7.595%, (3 mo. USD LIBOR + 2.75%), 2/15/28 | 2,955 | 1,242,237 | |
Sedgwick Claims Management Services, Inc., Term Loan, 8.732%, (SOFR + 3.75%), 2/17/28 | 1,132 | 1,120,985 | |
Skopima Merger Sub, Inc., Term Loan, 9.025%, (1 mo. USD LIBOR + 4.00%), 5/12/28 | 1,502 | 1,431,713 | |
$ 19,658,647 | |||
Leisure Products — 0.7% | |||
Amer Sports Oyj, Term Loan, 7.898%, (6 mo. EURIBOR + 4.25%), 3/30/26 | EUR | 1,650 | $ 1,784,046 |
Fender Musical Instruments Corporation, Term Loan, 8.99%, (SOFR + 4.00%), 12/1/28 | 271 | 252,492 | |
Topgolf Callaway Brands Corp., Term Loan, 8.582%, (SOFR + 3.50%), 3/15/30 | 500 | 500,104 | |
$ 2,536,642 | |||
Life Sciences Tools & Services — 1.3% | |||
Cambrex Corporation, Term Loan, 8.482%, (SOFR + 3.50%), 12/4/26 | 289 | $ 287,565 | |
Curia Global, Inc., Term Loan, 8.895%, (SOFR + 3.75%), 8/30/26(11) | 1,836 | 1,606,049 | |
LGC Group Holdings, Ltd., Term Loan, 5.765%, (1 mo. EURIBOR + 2.75%), 4/21/27 | EUR | 475 | 499,414 |
Loire Finco Luxembourg S.a.r.l., Term Loan, 8.025%, (1 mo. USD LIBOR + 3.00%), 4/21/27 | 316 | 304,317 | |
Packaging Coordinators Midco, Inc., Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 11/30/27 | 1,355 | 1,316,619 | |
Sotera Health Holdings, LLC, Term Loan, 8.023%, (3 mo. USD LIBOR + 2.75%), 12/11/26 | 625 | 610,156 | |
$ 4,624,120 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Machinery — 8.6% | |||
AI Aqua Merger Sub, Inc., Term Loan, 8.584%, (SOFR + 3.75%), 7/31/28 | 2,184 | $ 2,131,642 | |
Albion Financing 3 S.a.r.l.: | |||
Term Loan, 10.347%, (SOFR + 5.50%), 8/17/26 | 275 | 270,875 | |
Term Loan, 10.523%, (3 mo. USD LIBOR + 5.25%), 8/17/26 | 1,333 | 1,307,504 | |
Alliance Laundry Systems, LLC, Term Loan, 8.559%, (3 mo. USD LIBOR + 3.50%), 10/8/27 | 2,094 | 2,086,358 | |
American Trailer World Corp., Term Loan, 8.832%, (SOFR + 3.75%), 3/3/28 | 1,261 | 1,095,877 | |
Apex Tool Group, LLC, Term Loan, 10.24%, (SOFR + 5.25%), 2/8/29 | 2,078 | 1,833,260 | |
Clark Equipment Company, Term Loan, 7.498%, (SOFR + 2.50%), 4/20/29 | 997 | 997,481 | |
Conair Holdings, LLC, Term Loan, 8.909%, (3 mo. USD LIBOR + 3.75%), 5/17/28 | 2,167 | 2,030,208 | |
CPM Holdings, Inc., Term Loan, 8.348%, (1 mo. USD LIBOR + 3.50%), 11/17/25 | 1,964 | 1,963,479 | |
Delachaux Group S.A., Term Loan, 9.773%, (3 mo. USD LIBOR + 4.50%), 4/16/26 | 371 | 361,969 | |
Engineered Machinery Holdings, Inc., Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 5/19/28 | 3,133 | 3,099,072 | |
Filtration Group Corporation: | |||
Term Loan, 6.515%, (1 mo. EURIBOR + 3.50%), 3/29/25 | EUR | 357 | 391,246 |
Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 10/21/28 | 640 | 635,248 | |
Gates Global, LLC, Term Loan, 7.471%, (SOFR + 2.50%), 3/31/27 | 2,530 | 2,526,324 | |
Icebox Holdco III, Inc., Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 12/22/28 | 718 | 692,330 | |
Illuminate Buyer, LLC, Term Loan, 8.597%, (1 mo. USD LIBOR + 3.50%), 6/30/27 | 864 | 855,783 | |
Madison IAQ, LLC, Term Loan, 8.302%, (6 mo. USD LIBOR + 3.25%), 6/21/28 | 2,456 | 2,368,916 | |
Roper Industrial Products Investment Company, LLC, Term Loan, 9.398%, (SOFR + 4.50%), 11/22/29 | 1,325 | 1,318,927 | |
SPX Flow, Inc., Term Loan, 9.582%, (SOFR + 4.50%), 4/5/29 | 1,917 | 1,853,903 | |
Titan Acquisition Limited, Term Loan, 8.151%, (3 mo. USD LIBOR + 3.00%), 3/28/25 | 1,969 | 1,890,002 | |
TK Elevator Topco GmbH, Term Loan, 6.567%, (6 mo. EURIBOR + 3.63%), 7/30/27 | EUR | 500 | 532,241 |
Vertical US Newco, Inc., Term Loan, 8.602%, (6 mo. USD LIBOR + 3.50%), 7/30/27 | 1,195 | 1,168,490 | |
Zephyr German BidCo GmbH, Term Loan, 6.645%, (3 mo. EURIBOR + 3.60%), 3/10/28 | EUR | 600 | 613,666 |
$ 32,024,801 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Media — 2.3% | |||
Diamond Sports Group, LLC, Term Loan, 13.064%, (SOFR + 8.15%), 5/25/26(7) | 403 | $ 367,062 | |
Gray Television, Inc.: | |||
Term Loan, 7.418%, (SOFR + 2.50%), 1/2/26 | 595 | 589,397 | |
Term Loan, 7.918%, (1 mo. USD LIBOR + 3.00%), 12/1/28 | 815 | 798,450 | |
Hubbard Radio, LLC, Term Loan, 9.28%, (1 mo. USD LIBOR + 4.25%), 3/28/25 | 544 | 445,766 | |
Magnite, Inc., Term Loan, 10.043%, (USD LIBOR + 5.00%), 4/28/28(11) | 712 | 689,310 | |
MJH Healthcare Holdings, LLC, Term Loan, 8.582%, (SOFR + 3.50%), 1/28/29 | 248 | 243,478 | |
Nexstar Broadcasting, Inc., Term Loan, 7.525%, (1 mo. USD LIBOR + 2.50%), 9/18/26 | 255 | 254,348 | |
Recorded Books, Inc., Term Loan, 8.997%, (SOFR + 4.00%), 8/29/25 | 2,280 | 2,275,251 | |
Sinclair Television Group, Inc.: | |||
Term Loan, 7.53%, (1 mo. USD LIBOR + 2.50%), 9/30/26 | 579 | 520,618 | |
Term Loan, 8.03%, (1 mo. USD LIBOR + 3.00%), 4/1/28 | 386 | 328,544 | |
Univision Communications, Inc., Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 3/15/26 | 2,162 | 2,150,963 | |
$ 8,663,187 | |||
Metals/Mining — 0.5% | |||
Dynacast International, LLC, Term Loan, 13.958%, (3 mo. USD LIBOR + 9.00%), 10/22/25 | 330 | $ 249,447 | |
PMHC II, Inc., Term Loan, 9.304%, (SOFR + 4.25%), 4/23/29 | 597 | 524,946 | |
WireCo WorldGroup, Inc., Term Loan, 9.25%, (1 mo. USD LIBOR + 4.25%), 11/13/28 | 397 | 395,153 | |
Zekelman Industries, Inc., Term Loan, 7.018%, (3 mo. USD LIBOR + 2.00%), 1/24/27 | 552 | 547,063 | |
$ 1,716,609 | |||
Oil, Gas & Consumable Fuels — 2.5% | |||
Centurion Pipeline Company, LLC: | |||
Term Loan, 10.25%, (1 mo. USD LIBOR + 2.25%), 9/29/25 | 242 | $ 242,404 | |
Term Loan, 11.00%, (1 mo. USD LIBOR + 3.00%), 9/28/25 | 222 | 222,604 | |
Freeport LNG Investments, LLP, Term Loan, 8.75%, (3 mo. USD LIBOR + 3.50%), 12/21/28 | 588 | 572,303 | |
Matador Bidco S.a.r.l., Term Loan, 9.582%, (SOFR + 4.50%), 10/15/26 | 3,666 | 3,651,059 | |
Oryx Midstream Services Permian Basin, LLC, Term Loan, 8.193%, (SOFR + 3.25%), 10/5/28 | 884 | 875,688 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Oil, Gas & Consumable Fuels (continued) | |||
Oxbow Carbon, LLC, Term Loan, 9.409%, (3 mo. USD LIBOR + 4.25%), 10/17/25 | 656 | $ 656,250 | |
QuarterNorth Energy Holding, Inc., Term Loan - Second Lien, 13.025%, (1 mo. USD LIBOR + 8.00%), 8/27/26 | 755 | 753,418 | |
UGI Energy Services, LLC, Term Loan, 8.332%, (SOFR + 3.25%), 2/22/30 | 2,388 | 2,374,370 | |
$ 9,348,096 | |||
Personal Products — 0.7% | |||
HLF Financing S.a.r.l., Term Loan, 7.525%, (1 mo. USD LIBOR + 2.50%), 8/18/25 | 631 | $ 628,686 | |
Olaplex, Inc., Term Loan, 8.597%, (SOFR + 3.50%), 2/23/29 | 997 | 912,488 | |
Sunshine Luxembourg VII S.a.r.l., Term Loan, 8.909%, (3 mo. USD LIBOR + 3.75%), 10/1/26 | 1,127 | 1,116,277 | |
$ 2,657,451 | |||
Pharmaceuticals — 2.1% | |||
Akorn, Inc., Term Loan, 0.00%, 10/1/25(7) | 296 | $ 72,602 | |
Amneal Pharmaceuticals, LLC, Term Loan, 8.563%, (1 mo. USD LIBOR + 3.50%), 5/4/25 | 815 | 766,499 | |
Bausch Health Companies, Inc., Term Loan, 10.24%, (SOFR + 5.25%), 2/1/27 | 1,651 | 1,334,443 | |
Jazz Financing Lux S.a.r.l., Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 5/5/28 | 2,214 | 2,214,142 | |
Mallinckrodt International Finance S.A.: | |||
Term Loan, 10.198%, (1 mo. USD LIBOR + 5.25%), 9/30/27 | 1,858 | 1,334,759 | |
Term Loan, 10.448%, (1 mo. USD LIBOR + 5.50%), 9/30/27 | 2,663 | 1,910,990 | |
PharmaZell GmbH, Term Loan, 7.015%, (3 mo. EURIBOR + 4.00%), 5/12/27 | EUR | 125 | 133,146 |
$ 7,766,581 | |||
Professional Services — 4.2% | |||
AlixPartners, LLP, Term Loan, 6.24%, (3 mo. EURIBOR + 3.25%), 2/4/28 | EUR | 490 | $ 533,688 |
APFS Staffing Holdings, Inc., Term Loan, 8.97%, (SOFR + 4.00%), 12/29/28(11) | 248 | 244,561 | |
Apleona Holding GmbH, Term Loan, 6.442%, (3 mo. EURIBOR + 3.20%), 4/28/28 | EUR | 750 | 794,143 |
Camelot U.S. Acquisition, LLC, Term Loan, 8.025%, (1 mo. USD LIBOR + 3.00%), 10/30/26 | 2,999 | 3,000,068 | |
CoreLogic, Inc., Term Loan, 8.563%, (1 mo. USD LIBOR + 3.50%), 6/2/28 | 2,844 | 2,560,022 | |
Corporation Service Company, Term Loan, 8.332%, (SOFR + 3.25%), 11/2/29 | 311 | 311,538 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Professional Services (continued) | |||
Deerfield Dakota Holding, LLC, Term Loan, 8.648%, (SOFR + 3.75%), 4/9/27 | 2,093 | $ 2,028,941 | |
Employbridge Holding Company, Term Loan, 9.927%, (3 mo. USD LIBOR + 4.75%), 7/19/28 | 1,975 | 1,671,569 | |
Neptune Bidco U.S., Inc., Term Loan, 10.004%, (SOFR + 5.00%), 4/11/29 | 1,850 | 1,656,906 | |
Techem Verwaltungsgesellschaft 675 mbH, Term Loan, 5.107%, (6 mo. EURIBOR + 2.38%), 7/15/25 | EUR | 739 | 805,026 |
TMF Group Holding B.V., Term Loan, 5/5/28(10) | 375 | 372,656 | |
Trans Union, LLC, Term Loan, 7.275%, (1 mo. USD LIBOR + 2.25%), 12/1/28 | 1,347 | 1,345,393 | |
Vaco Holdings, LLC, Term Loan, 10.048%, (SOFR + 5.00%), 1/21/29 | 247 | 246,258 | |
$ 15,570,769 | |||
Road & Rail — 1.8% | |||
First Student Bidco, Inc.: | |||
Term Loan, 8.143%, (3 mo. USD LIBOR + 3.00%), 7/21/28 | 272 | $ 259,782 | |
Term Loan, 8.143%, (3 mo. USD LIBOR + 3.00%), 7/21/28 | 727 | 694,958 | |
Grab Holdings, Inc., Term Loan, 9.53%, (1 mo. USD LIBOR + 4.50%), 1/29/26 | 1,045 | 1,043,881 | |
Kenan Advantage Group, Inc., Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 3/24/26 | 2,370 | 2,362,141 | |
PODS, LLC, Term Loan, 8.097%, (SOFR + 3.00%), 3/31/28 | 2,456 | 2,412,382 | |
$ 6,773,144 | |||
Semiconductors & Semiconductor Equipment — 0.9% | |||
Altar Bidco, Inc.: | |||
Term Loan, 6.608%, (SOFR + 3.10%), 2/1/29 | 1,815 | $ 1,771,038 | |
Term Loan - Second Lien, 10.493%, (SOFR + 5.60%), 2/1/30 | 450 | 399,094 | |
Bright Bidco B.V., Term Loan, 4.045%, (SOFR + 1.00%), 10/31/27 | 428 | 271,700 | |
Ultra Clean Holdings, Inc., Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 8/27/25 | 1,022 | 1,024,689 | |
$ 3,466,521 | |||
Software — 24.5% | |||
Applied Systems, Inc., Term Loan, 9.398%, (SOFR + 4.50%), 9/18/26 | 650 | $ 652,031 | |
AppLovin Corporation, Term Loan, 8.418%, (SOFR + 3.35%), 8/15/25 | 1,812 | 1,810,153 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Software (continued) | |||
Aptean, Inc., Term Loan, 9.221%, (SOFR + 4.25%), 4/23/26 | 2,068 | $ 2,002,292 | |
AQA Acquisition Holding, Inc., Term Loan, 9.203%, (3 mo. USD LIBOR + 4.25%), 3/3/28 | 884 | 865,460 | |
Astra Acquisition Corp.: | |||
Term Loan, 10.275%, (1 mo. USD LIBOR + 5.25%), 10/25/28 | 920 | 751,507 | |
Term Loan - Second Lien, 13.90%, (1 mo. USD LIBOR + 8.88%), 10/25/29 | 1,425 | 940,274 | |
Banff Merger Sub, Inc.: | |||
Term Loan, 7.015%, (1 mo. EURIBOR + 4.00%), 10/2/25 | EUR | 265 | 288,291 |
Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 10/2/25 | 3,406 | 3,368,308 | |
Term Loan - Second Lien, 10.525%, (1 mo. USD LIBOR + 5.50%), 2/27/26 | 750 | 727,500 | |
CDK Global, Inc., Term Loan, 9.148%, (SOFR + 4.25%), 7/6/29 | 2,045 | 2,045,194 | |
CentralSquare Technologies, LLC, Term Loan, 8.909%, (3 mo. USD LIBOR + 3.75%), 8/29/25 | 790 | 708,290 | |
Ceridian HCM Holding, Inc., Term Loan, 7.525%, (1 mo. USD LIBOR + 2.50%), 4/30/25 | 877 | 877,221 | |
Cloud Software Group, Inc., Term Loan, 3/30/29(10) | 1,500 | 1,405,044 | |
Cloudera, Inc.: | |||
Term Loan, 8.832%, (SOFR + 3.75%), 10/8/28 | 2,327 | 2,249,072 | |
Term Loan - Second Lien, 11.082%, (SOFR + 6.00%), 10/8/29 | 650 | 578,500 | |
ConnectWise, LLC, Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 9/29/28 | 1,975 | 1,919,864 | |
Constant Contact, Inc., Term Loan, 9.198%, (3 mo. USD LIBOR + 4.00%), 2/10/28 | 1,849 | 1,749,414 | |
Cornerstone OnDemand, Inc., Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 10/16/28 | 1,139 | 1,011,842 | |
Delta TopCo, Inc.: | |||
Term Loan, 8.656%, (SOFR + 3.75%), 12/1/27 | 1,412 | 1,354,024 | |
Term Loan - Second Lien, 12.156%, (SOFR + 7.25%), 12/1/28 | 2,025 | 1,845,281 | |
E2open, LLC, Term Loan, 8.566%, (USD LIBOR + 3.50%), 2/4/28(11) | 860 | 857,642 | |
ECI Macola Max Holding, LLC, Term Loan, 8.909%, (3 mo. USD LIBOR + 3.75%), 11/9/27 | 1,272 | 1,258,761 | |
Epicor Software Corporation: | |||
Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 7/30/27 | 2,239 | 2,214,870 | |
Term Loan - Second Lien, 12.832%, (SOFR + 7.75%), 7/31/28 | 850 | 850,265 | |
Finastra USA, Inc.: | |||
Term Loan, 8.655%, (3 mo. USD LIBOR + 3.50%), 6/13/24 | 4,618 | 4,411,419 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Software (continued) | |||
Finastra USA, Inc.: (continued) | |||
Term Loan - Second Lien, 12.405%, (3 mo. USD LIBOR + 7.25%), 6/13/25 | 1,000 | $ 849,688 | |
GoTo Group, Inc., Term Loan, 9.775%, (1 mo. USD LIBOR + 4.75%), 8/31/27 | 1,833 | 1,113,434 | |
Greeneden U.S. Holdings II, LLC, Term Loan, 9.025%, (1 mo. USD LIBOR + 4.00%), 12/1/27 | 2,304 | 2,285,564 | |
Hyland Software, Inc., Term Loan - Second Lien, 11.275%, (1 mo. USD LIBOR + 6.25%), 7/7/25 | 3,630 | 3,499,545 | |
Imperva, Inc., Term Loan, 8.859%, (3 mo. USD LIBOR + 4.00%), 1/12/26 | 2,304 | 2,151,428 | |
Ivanti Software, Inc., Term Loan, 9.212%, (3 mo. USD LIBOR + 4.25%), 12/1/27 | 1,312 | 1,061,735 | |
Magenta Buyer, LLC: | |||
Term Loan, 10.03%, (3 mo. USD LIBOR + 4.75%), 7/27/28 | 4,211 | 3,566,611 | |
Term Loan - Second Lien, 13.53%, (3 mo. USD LIBOR + 8.25%), 7/27/29 | 1,150 | 879,750 | |
Marcel LUX IV S.a.r.l., Term Loan, 8.93%, (SOFR + 4.00%), 12/31/27 | 100 | 99,860 | |
McAfee, LLC, Term Loan, 8.653%, (SOFR + 3.75%), 3/1/29 | 2,432 | 2,300,419 | |
Mediaocean, LLC, Term Loan, 8.582%, (SOFR + 3.50%), 12/15/28 | 545 | 517,190 | |
MH Sub I, LLC, Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 9/13/24 | 320 | 319,492 | |
Open Text Corporation, Term Loan, 8.582%, (SOFR + 3.50%), 1/31/30 | 2,070 | 2,071,106 | |
Panther Commercial Holdings, L.P., Term Loan, 9.275%, (1 mo. USD LIBOR + 4.25%), 1/7/28 | 885 | 861,085 | |
Polaris Newco, LLC, Term Loan, 9.159%, (3 mo. USD LIBOR + 4.00%), 6/2/28 | 2,635 | 2,447,738 | |
Proofpoint, Inc., Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 8/31/28 | 2,963 | 2,904,690 | |
Quartz Acquireco, LLC, Term Loan, 4/14/30(10) | 750 | 747,656 | |
RealPage, Inc., Term Loan, 8.025%, (1 mo. USD LIBOR + 3.00%), 4/24/28 | 4,580 | 4,456,583 | |
Redstone Holdco 2 L.P., Term Loan, 10.005%, (3 mo. USD LIBOR + 4.75%), 4/27/28 | 2,216 | 1,887,968 | |
Sabre GLBL, Inc.: | |||
Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 12/17/27 | 1,509 | 1,187,376 | |
Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 12/17/27 | 947 | 739,746 | |
Term Loan, 9.332%, (SOFR + 4.25%), 6/30/28 | 904 | 720,823 | |
SolarWinds Holdings, Inc., Term Loan, 8.982%, (SOFR + 4.00%), 2/5/27 | 1,650 | 1,651,145 | |
Sophia, L.P., Term Loan, 8.659%, (3 mo. USD LIBOR + 3.50%), 10/7/27 | 4,149 | 4,102,404 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Software (continued) | |||
SurveyMonkey, Inc., Term Loan, 8.847%, (SOFR + 3.75%), 10/10/25 | 879 | $ 877,027 | |
Turing Midco, LLC, Term Loan, 7.525%, (1 mo. USD LIBOR + 2.50%), 3/24/28 | 179 | 178,626 | |
Ultimate Software Group, Inc. (The): | |||
Term Loan, 8.271%, (SOFR + 3.25%), 5/4/26 | 4,180 | 4,079,308 | |
Term Loan, 8.895%, (SOFR + 3.75%), 5/4/26 | 1,542 | 1,517,665 | |
Veritas US, Inc.: | |||
Term Loan, 7.765%, (3 mo. EURIBOR + 4.75%), 9/1/25 | EUR | 317 | 267,650 |
Term Loan, 10.025%, (1 mo. USD LIBOR + 5.00%), 9/1/25 | 2,163 | 1,668,996 | |
Vision Solutions, Inc., Term Loan, 9.255%, (3 mo. USD LIBOR + 4.00%), 4/24/28 | 2,364 | 2,108,182 | |
VS Buyer, LLC, Term Loan, 7.903%, (SOFR + 3.00%), 2/28/27 | 1,091 | 1,078,974 | |
$ 90,941,983 | |||
Specialty Retail — 4.8% | |||
Belron Finance US, LLC, Term Loan, 7.30%, (3 mo. USD LIBOR + 2.43%), 4/13/28 | 907 | $ 906,387 | |
Boels Topholding B.V., Term Loan, 6.01%, (1 mo. EURIBOR + 3.25%), 2/6/27 | EUR | 575 | 626,993 |
Great Outdoors Group, LLC, Term Loan, 8.775%, (1 mo. USD LIBOR + 3.75%), 3/6/28 | 2,640 | 2,622,822 | |
Harbor Freight Tools USA, Inc., Term Loan, 7.775%, (1 mo. USD LIBOR + 2.75%), 10/19/27 | 3,200 | 3,116,227 | |
Hoya Midco, LLC, Term Loan, 8.295%, (SOFR + 3.25%), 2/3/29 | 935 | 926,861 | |
Les Schwab Tire Centers, Term Loan, 8.064%, (3 mo. USD LIBOR + 3.25%), 11/2/27 | 4,410 | 4,396,957 | |
LIDS Holdings, Inc., Term Loan, 10.393%, (SOFR + 5.50%), 12/14/26 | 380 | 360,703 | |
Mattress Firm, Inc., Term Loan, 9.39%, (3 mo. USD LIBOR + 4.25%), 9/25/28 | 1,835 | 1,707,600 | |
PetSmart, Inc., Term Loan, 8.832%, (SOFR + 3.75%), 2/11/28 | 2,997 | 2,981,375 | |
$ 17,645,925 | |||
Trading Companies & Distributors — 3.5% | |||
DXP Enterprises, Inc., Term Loan, 9.955%, (3 mo. USD LIBOR + 5.25%), 12/23/27 | 885 | $ 880,115 | |
Electro Rent Corporation, Term Loan, 10.271%, (SOFR + 5.50%), 11/1/24 | 1,558 | 1,523,407 | |
Hillman Group, Inc. (The): | |||
Term Loan, 3.146%, (1 mo. USD LIBOR + 2.75%), 7/14/28(12) | 76 | 75,628 |
Borrower/Description | Principal Amount* (000's omitted) | Value | |
Trading Companies & Distributors (continued) | |||
Hillman Group, Inc. (The): (continued) | |||
Term Loan, 7.775%, (1 mo. USD LIBOR + 2.75%), 7/14/28 | 312 | $ 311,384 | |
Park River Holdings, Inc., Term Loan, 8.522%, (6 mo. USD LIBOR + 3.25%), 12/28/27 | 661 | 618,661 | |
Patagonia Bidco Limited, Term Loan, 8.678%, (3 mo. SONIA + 5.25%), 11/1/28 | GBP | 1,325 | 1,484,104 |
Spin Holdco, Inc., Term Loan, 8.986%, (3 mo. USD LIBOR + 4.00%), 3/4/28 | 4,165 | 3,476,288 | |
SRS Distribution, Inc.: | |||
Term Loan, 8.471%, (SOFR + 3.50%), 6/2/28 | 321 | 306,596 | |
Term Loan, 8.525%, (1 mo. USD LIBOR + 3.50%), 6/2/28 | 2,326 | 2,225,811 | |
White Cap Buyer, LLC, Term Loan, 8.732%, (SOFR + 3.75%), 10/19/27 | 2,121 | 2,105,058 | |
$ 13,007,052 | |||
Transportation Infrastructure — 1.1% | |||
Brown Group Holding, LLC: | |||
Term Loan, 7.582%, (SOFR + 2.50%), 6/7/28 | 2,159 | $ 2,113,543 | |
Term Loan, 8.778%, (SOFR + 3.75%), 7/2/29 | 224 | 223,300 | |
KKR Apple Bidco, LLC, Term Loan, 7.775%, (1 mo. USD LIBOR + 2.75%), 9/23/28 | 1,629 | 1,611,384 | |
$ 3,948,227 | |||
Wireless Telecommunication Services — 0.4% | |||
CCI Buyer, Inc., Term Loan, 8.898%, (SOFR + 4.00%), 12/17/27 | 370 | $ 364,762 | |
Digicel International Finance Limited, Term Loan, 8.275%, (1 mo. USD LIBOR + 3.25%), 5/28/24 | 1,418 | 1,288,170 | |
$ 1,652,932 | |||
Total Senior Floating-Rate Loans (identified cost $524,014,632) | $ 495,194,200 |
Warrants — 0.0% |
Security | Shares | Value | |
Leisure Goods/Activities/Movies — 0.0% | |||
Cineworld Group PLC, Exp. 11/23/25(4)(5) | 139,907 | $ 0 | |
$ 0 |
Security | Shares | Value | |
Retailers (Except Food and Drug) — 0.0% | |||
David’s Bridal, LLC, Exp. 12/31/28(3)(4)(5) | 4,339 | $ 0 | |
$ 0 | |||
Total Warrants (identified cost $0) | $ 0 |
Short-Term Investments — 1.6% |
Security | Shares | Value | |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 4.78%(13) | 6,134,075 | $ 6,134,075 | |
Total Short-Term Investments (identified cost $6,134,075) | $ 6,134,075 | ||
Total Investments — 152.1% (identified cost $604,900,284) | $ 563,914,532 | ||
Less Unfunded Loan Commitments — (0.0)%(6) | $ (99,216) | ||
Net Investments — 152.1% (identified cost $604,801,068) | $ 563,815,316 | ||
Other Assets, Less Liabilities — (31.6)% | $(117,108,239) | ||
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (20.5)% | $ (76,044,235) | ||
Net Assets Applicable to Common Shares — 100.0% | $ 370,662,842 |
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares. | |
* | In U.S. dollars unless otherwise indicated. |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At April 30, 2023, the aggregate value of these securities is $50,978,677 or 13.8% of the Trust's net assets applicable to common shares. |
(2) | Variable rate security. The stated interest rate represents the rate in effect at April 30, 2023. |
(3) | For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 10). |
(4) | Non-income producing security. |
(5) | Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale. |
(6) | Amount is less than 0.05% or (0.05)%, as applicable. |
(7) | Issuer is in default with respect to interest and/or principal payments or has declared bankruptcy. For a variable rate security, interest rate has been adjusted to reflect non-accrual status. |
(8) | Principal amount is less than $500. |
(9) | Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are redetermined periodically by reference to a base lending rate, plus a spread. These base lending rates are primarily the London Interbank Offered Rate (“LIBOR”) or the Secured Overnight Financing Rate (“SOFR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”). Base lending rates may be subject to a floor, or minimum rate. Rates for SOFR are generally 1 or 3-month tenors and may also be subject to a credit spread adjustment. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold. |
(10) | This Senior Loan will settle after April 30, 2023, at which time the interest rate will be determined. |
(11) | The stated interest rate represents the weighted average interest rate at April 30, 2023 of contracts within the senior loan facility. Interest rates on contracts are primarily redetermined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. |
(12) | Unfunded or partially unfunded loan commitments. The stated interest rate reflects the weighted average of the reference rate and spread for the funded portion, if any, and the commitment fees on the portion of the loan that is unfunded. At April 30, 2023, the total value of unfunded loan commitments is $98,095. See Note 1F for description. |
(13) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of April 30, 2023. |
Forward Foreign Currency Exchange Contracts (OTC) | |||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
USD | 9,372,980 | EUR | 8,613,275 | Standard Chartered Bank | 5/3/23 | $ — | $(117,991) |
USD | 287,420 | EUR | 271,098 | Bank of America, N.A. | 5/31/23 | — | (11,787) |
USD | 2,004,622 | EUR | 1,889,797 | Citibank, N.A. | 5/31/23 | — | (81,112) |
USD | 2,004,755 | EUR | 1,889,797 | State Street Bank and Trust Company | 5/31/23 | — | (80,979) |
USD | 2,004,684 | EUR | 1,889,797 | State Street Bank and Trust Company | 5/31/23 | — | (81,050) |
USD | 2,004,621 | EUR | 1,889,797 | State Street Bank and Trust Company | 5/31/23 | — | (81,112) |
Forward Foreign Currency Exchange Contracts (OTC) (continued) | |||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
USD | 2,004,168 | EUR | 1,889,799 | State Street Bank and Trust Company | 5/31/23 | $ — | $ (81,568) |
USD | 2,676 | GBP | 2,234 | Bank of America, N.A. | 5/31/23 | — | (134) |
USD | 2,826,804 | GBP | 2,360,678 | State Street Bank and Trust Company | 5/31/23 | — | (141,801) |
USD | 9,525,231 | EUR | 8,613,274 | Standard Chartered Bank | 6/2/23 | 17,855 | — |
USD | 483,962 | EUR | 444,255 | Bank of America, N.A. | 6/30/23 | — | (7,181) |
USD | 1,284,864 | EUR | 1,180,000 | Goldman Sachs International | 6/30/23 | — | (19,675) |
USD | 7,651 | EUR | 7,027 | Standard Chartered Bank | 6/30/23 | — | (117) |
USD | 1,285,281 | EUR | 1,180,000 | Standard Chartered Bank | 6/30/23 | — | (19,259) |
USD | 1,285,232 | EUR | 1,180,000 | Standard Chartered Bank | 6/30/23 | — | (19,308) |
USD | 1,285,037 | EUR | 1,180,000 | Standard Chartered Bank | 6/30/23 | — | (19,503) |
USD | 1,284,959 | EUR | 1,180,000 | Standard Chartered Bank | 6/30/23 | — | (19,580) |
$17,855 | $(782,157) |
Abbreviations: | |
DIP | – Debtor In Possession |
EURIBOR | – Euro Interbank Offered Rate |
LIBOR | – London Interbank Offered Rate |
OTC | – Over-the-counter |
PIK | – Payment In Kind |
REITs | – Real Estate Investment Trusts |
SOFR | – Secured Overnight Financing Rate |
SONIA | – Sterling Overnight Interbank Average |
Currency Abbreviations: | |
EUR | – Euro |
GBP | – British Pound Sterling |
USD | – United States Dollar |
April 30, 2023 | |
Assets | |
Unaffiliated investments, at value (identified cost $598,666,993) | $557,681,241 |
Affiliated investment, at value (identified cost $6,134,075) | 6,134,075 |
Cash | 4,077,408 |
Deposits for derivatives collateral — forward foreign currency exchange contracts | 380,000 |
Foreign currency, at value (identified cost $4,362,371) | 4,403,239 |
Interest receivable | 3,351,593 |
Dividends receivable from affiliated investment | 34,504 |
Receivable for investments sold | 957,005 |
Receivable for open forward foreign currency exchange contracts | 17,855 |
Prepaid upfront fees on notes payable | 87,375 |
Prepaid expenses | 8,479 |
Total assets | $577,132,774 |
Liabilities | |
Notes payable | $120,000,000 |
Payable for investments purchased | 7,723,387 |
Payable for open forward foreign currency exchange contracts | 782,157 |
Payable to affiliate: | |
Investment adviser fee | 349,164 |
Trustees' fees | 3,095 |
Accrued expenses | 1,567,894 |
Total liabilities | $130,425,697 |
Auction preferred shares (3,032 shares outstanding) at liquidation value plus cumulative unpaid dividends | $76,044,235 |
Net assets applicable to common shares | $370,662,842 |
Sources of Net Assets | |
Common shares, $0.01 par value, unlimited number of shares authorized | $291,748 |
Additional paid-in capital | 453,333,842 |
Accumulated loss | (82,962,748) |
Net assets applicable to common shares | $370,662,842 |
Common Shares Issued and Outstanding | 29,174,848 |
Net Asset Value Per Common Share | |
Net assets ÷ common shares issued and outstanding | $12.70 |
Six Months Ended | |
April 30, 2023 | |
Investment Income | |
Dividend income | $437,366 |
Dividend income from affiliated investment | 115,814 |
Interest and other income | 25,293,040 |
Total investment income | $25,846,220 |
Expenses | |
Investment adviser fee | $2,098,732 |
Trustees’ fees and expenses | 17,986 |
Custodian fee | 87,695 |
Transfer and dividend disbursing agent fees | 8,989 |
Legal and accounting services | 128,500 |
Printing and postage | 60,634 |
Interest expense and fees | 3,481,217 |
Preferred shares service fee | 37,424 |
Miscellaneous | 70,676 |
Total expenses | $5,991,853 |
Deduct: | |
Waiver and/or reimbursement of expenses by affiliate | $4,410 |
Total expense reductions | $4,410 |
Net expenses | $5,987,443 |
Net investment income | $19,858,777 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment transactions | $(1,087,742) |
Foreign currency transactions | 802,331 |
Forward foreign currency exchange contracts | (2,498,629) |
Net realized loss | $(2,784,040) |
Change in unrealized appreciation (depreciation): | |
Investments | $14,425,481 |
Foreign currency | 73,860 |
Forward foreign currency exchange contracts | (686,357) |
Net change in unrealized appreciation (depreciation) | $13,812,984 |
Net realized and unrealized gain | $11,028,944 |
Distributions to preferred shareholders | $(2,670,876) |
Net increase in net assets from operations | $28,216,845 |
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, 2022 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $19,858,777 | $26,681,859 |
Net realized gain (loss) | (2,784,040) | 503,893 |
Net change in unrealized appreciation (depreciation) | 13,812,984 | (56,661,887) |
Distributions to preferred shareholders | (2,670,876) | (1,307,960) |
Net increase (decrease) in net assets from operations | $28,216,845 | $(30,784,095) |
Distributions to common shareholders | $(15,958,642) | $(25,476,811) |
Tax return of capital to common shareholders | $— | $(2,906,292) |
Capital share transactions: | ||
Proceeds from shelf offering, net of offering costs (see Note 6) | $— | $13,626,005 |
Reinvestment of distributions to common shareholders | — | 356,912 |
Net increase in net assets from capital share transactions | $— | $13,982,917 |
Net increase (decrease) in net assets | $12,258,203 | $(45,184,281) |
Net Assets Applicable to Common Shares | ||
At beginning of period | $358,404,639 | $403,588,920 |
At end of period | $370,662,842 | $358,404,639 |
Six Months Ended | |
April 30, 2023 | |
Cash Flows From Operating Activities | |
Net increase in net assets from operations | $28,216,845 |
Distributions to preferred shareholders | 2,670,876 |
Net increase in net assets from operations excluding distributions to preferred shareholders | $30,887,721 |
Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities: | |
Investments purchased | (44,606,883) |
Investments sold and principal repayments | 64,581,490 |
Increase in short-term investments, net | (4,781,142) |
Net amortization/accretion of premium (discount) | (1,023,715) |
Amortization of prepaid upfront fees on notes payable | 48,882 |
Increase in interest receivable | (284,045) |
Increase in dividends receivable from affiliated investment | (26,484) |
Decrease in receivable for open forward foreign currency exchange contracts | 102,124 |
Decrease in cash collateral due to broker | (120,000) |
Increase in payable for open forward foreign currency exchange contracts | 584,233 |
Decrease in payable to affiliate for investment adviser fee | (12,057) |
Decrease in payable to affiliate for Trustees' fees | (586) |
Increase in accrued expenses | 829,751 |
Decrease in unfunded loan commitments | (359,160) |
Net change in unrealized appreciation (depreciation) from investments | (14,425,481) |
Net realized loss from investments | 1,087,742 |
Net cash provided by operating activities | $32,482,390 |
Cash Flows From Financing Activities | |
Cash distributions paid to common shareholders | $(15,958,642) |
Cash distributions paid to preferred shareholders | (2,524,199) |
Proceeds from notes payable | 12,000,000 |
Repayments of notes payable | (25,000,000) |
Payment of prepaid upfront fees on notes payable | (95,000) |
Net cash used in financing activities | $(31,577,841) |
Net increase in cash and restricted cash* | $904,549 |
Cash and restricted cash at beginning of period (including foreign currency) | $7,956,098 |
Cash and restricted cash at end of period (including foreign currency) | $8,860,647 |
Supplemental disclosure of cash flow information: | |
Cash paid for interest and fees on borrowings | $2,737,820 |
* | Includes net change in unrealized appreciation (depreciation) on foreign currency of $41,765. |
April 30, 2023 | |
Cash | $4,077,408 |
Deposits for derivatives collateral — forward foreign currency exchange contracts | 380,000 |
Foreign currency | 4,403,239 |
Total cash and restricted cash as shown on the Statement of Cash Flows | $8,860,647 |
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | ||
Net asset value — Beginning of period (Common shares) | $12.280 | $14.300 | $13.500 | $14.510 | $15.370 | $15.210 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.681 | $0.917 | $0.721 | $0.816 | $0.987 | $0.885 |
Net realized and unrealized gain (loss) | 0.378 | (1.934) | 0.907 | (0.874) | (0.796) | 0.153 |
Distributions to preferred shareholders: From net investment income(1) | (0.092) | (0.045) | (0.003) | (0.028) | (0.072) | (0.066) |
Discount on redemption and repurchase of auction preferred shares(1) | — | — | — | — | — | 0.044 |
Total income (loss) from operations | $0.967 | $(1.062) | $1.625 | $(0.086) | $0.119 | $1.016 |
Less Distributions to Common Shareholders | ||||||
From net investment income | $(0.547) | $(0.875) | $(0.806) | $(0.924) | $(0.979) | $(0.856) |
Tax return of capital | — | (0.100) | (0.056) | — | — | — |
Total distributions to common shareholders | $(0.547) | $(0.975) | $(0.862) | $(0.924) | $(0.979) | $(0.856) |
Premium from common shares sold through shelf offering (see Note 6)(1) | $— | $0.017 | $0.001 | $— | $— | $— |
Discount on tender offer (see Note 6)(1) | $— | $— | $0.036 | $— | $— | $— |
Net asset value — End of period (Common shares) | $12.700 | $12.280 | $14.300 | $13.500 | $14.510 | $15.370 |
Market value — End of period (Common shares) | $11.530 | $11.170 | $14.900 | $11.900 | $12.910 | $13.430 |
Total Investment Return on Net Asset Value(2) | 8.43%(3) | (7.26)% | 12.69% | 0.42% | 1.69% | 7.25%(4) |
Total Investment Return on Market Value(2) | 8.27%(3) | (19.10)% | 33.21% | (0.52)% | 3.55% | (2.04)% |
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | ||
Ratios/Supplemental Data | ||||||
Net assets applicable to common shares, end of period (000’s omitted) | $370,663 | $358,405 | $403,589 | $497,341 | $534,714 | $566,490 |
Ratios (as a percentage of average daily net assets applicable to common shares):(5)† | ||||||
Expenses excluding interest and fees | 1.37%(6) | 1.37% | 1.33% | 1.32% | 1.28% | 1.31% |
Interest and fee expense(7) | 1.91%(6) | 0.81% | 0.46% | 0.78% | 1.40% | 1.06% |
Total expenses | 3.28%(6)(8) | 2.18%(8) | 1.79% | 2.10% | 2.68% | 2.37% |
Net investment income | 10.87%(6) | 6.83% | 5.05% | 6.03% | 6.64% | 5.78% |
Portfolio Turnover | 9%(3) | 12% | 66% | 30% | 28% | 32% |
Senior Securities: | ||||||
Total notes payable outstanding (in 000’s) | $120,000 | $133,000 | $120,000 | $223,000 | $218,000 | $222,000 |
Asset coverage per $1,000 of notes payable(9) | $4,723 | $4,265 | $4,995 | $3,570 | $3,801 | $3,893 |
Total preferred shares outstanding | 3,032 | 3,032 | 3,032 | 3,032 | 3,032 | 3,032 |
Asset coverage per preferred share(10) | $72,358 | $67,924 | $76,531 | $66,612 | $70,501 | $72,558 |
Involuntary liquidation preference per preferred share(11) | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 |
Approximate market value per preferred share(11) | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. |
(3) | Not annualized. |
(4) | The total return based on net asset value reflects the impact of the tender and repurchase by the Trust of a portion of its APS at 92% of the per share liquidation preference. Absent this transaction, the total return based on net asset value would have been 6.94%. |
(5) | Ratios do not reflect the effect of dividend payments to preferred shareholders. |
(6) | Annualized. |
(7) | Interest and fee expense relates to the notes payable incurred to partially redeem the Trust’s APS (see Note 8). |
(8) | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Trust’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended April 30, 2023 and the year ended October 31, 2022). |
(9) | Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, and dividing the result by the notes payable balance in thousands. |
(10) | Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, dividing the result by the sum of the values of the notes payable and liquidation value of the preferred shares, and multiplying the result by the liquidation value of one preferred share. Such amount equates to 289%, 272%, 306%, 266%, 282% and 290% at April 30, 2023 and October 31, 2022, 2021, 2020, 2019 and 2018, respectively. |
(11) | Plus accumulated and unpaid dividends. |
† | Ratios based on net assets applicable to common shares plus preferred shares and borrowings are presented below. Ratios do not reflect the effect of dividend payments to preferred shareholders. Ratios for periods less than one year are annualized. |
Six Months Ended April 30, 2023 (Unaudited) | Year Ended October 31, | |||||
2022 | 2021 | 2020 | 2019 | 2018 | ||
Expenses excluding interest and fees | 0.90% | 0.88% | 0.87% | 0.84% | 0.82% | 0.85% |
Interest and fee expense | 1.24% | 0.52% | 0.31% | 0.50% | 0.91% | 0.69% |
Total expenses | 2.14% | 1.40% | 1.18% | 1.34% | 1.73% | 1.54% |
Net investment income | 7.10% | 4.39% | 3.34% | 3.86% | 4.29% | 3.76% |
APS Issued and Outstanding | |
Series A | 739 |
Series B | 763 |
Series C | 738 |
Series D | 792 |
APS Dividend Rates at April 30, 2023 | Dividends Accrued to APS Shareholders | Average APS Dividend Rates | Dividend Rate Ranges (%) | |
Series A | 7.82% | $657,269 | 3.56% | 5.34-7.89 |
Series B | 7.82 | 678,612 | 3.56 | 5.34-7.89 |
Series C | 7.84 | 639,060 | 3.46 | 5.21-7.84 |
Series D | 7.89 | 695,935 | 3.51 | 5.39-7.89 |
Aggregate cost | $605,002,134 |
Gross unrealized appreciation | $1,731,943 |
Gross unrealized depreciation | (43,683,063) |
Net unrealized depreciation | $(41,951,120) |
Fair Value | ||
Derivative | Asset Derivative(1) | Liability Derivative(2) |
Forward foreign currency exchange contracts | $17,855 | $(782,157) |
(1) | Statement of Assets and Liabilities location: Receivable for open forward foreign currency exchange contracts. |
(2) | Statement of Assets and Liabilities location: Payable for open forward foreign currency exchange contracts. |
Counterparty | Derivative Assets Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Received(a) | Cash Collateral Received(a) | Net Amount of Derivative Assets(b) |
Standard Chartered Bank | $17,855 | $(17,855) | $ — | $ — | $ — |
Counterparty | Derivative Liabilities Subject to Master Netting Agreement | Derivatives Available for Offset | Non-cash Collateral Pledged(a) | Cash Collateral Pledged(a) | Net Amount of Derivative Liabilities(c) |
Bank of America, N.A. | $(19,102) | $ — | $ — | $ — | $(19,102) |
Citibank, N.A. | (81,112) | — | — | — | (81,112) |
Goldman Sachs International | (19,675) | — | — | — | (19,675) |
Standard Chartered Bank | (195,758) | 17,855 | — | 10,000 | (167,903) |
State Street Bank and Trust Company | (466,510) | — | — | 370,000 | (96,510) |
$(782,157) | $17,855 | $ — | $380,000 | $(384,302) |
(a) | In some instances, the total collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Net amount represents the net amount due from the counterparty in the event of default. |
(c) | Net amount represents the net amount payable to the counterparty in the event of default. |
Derivative | Realized Gain (Loss) on Derivatives Recognized in Income(1) | Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income(2) |
Forward foreign currency exchange contracts | $(2,498,629) | $(686,357) |
(1) | Statement of Operations location: Net realized gain (loss) - Forward foreign currency exchange contracts. |
(2) | Statement of Operations location: Change in unrealized appreciation (depreciation) - Forward foreign currency exchange contracts. |
Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Dividend income | Shares, end of period |
Short-Term Investments | ||||||||
Liquidity Fund | $1,352,933 | $76,497,311 | $(71,716,169) | $ — | $ — | $6,134,075 | $115,814 | 6,134,075 |
• | Level 1 – quoted prices in active markets for identical investments |
• | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
Asset Description | Level 1 | Level 2 | Level 3* | Total |
Asset-Backed Securities | $ — | $ 27,760,799 | $ — | $ 27,760,799 |
Closed-End Funds | 6,410,524 | — | — | 6,410,524 |
Common Stocks | 436,391 | 82,337 | 725,526 | 1,244,254 |
Convertible Preferred Stocks | — | 27 | — | 27 |
Corporate Bonds | — | 27,170,653 | — | 27,170,653 |
Senior Floating-Rate Loans (Less Unfunded Loan Commitments) | — | 494,655,125 | 439,859 | 495,094,984 |
Warrants | — | 0 | 0 | 0 |
Short-Term Investments | 6,134,075 | — | — | 6,134,075 |
Total Investments | $12,980,990 | $549,668,941 | $1,165,385 | $563,815,316 |
Asset Description (continued) | Level 1 | Level 2 | Level 3* | Total |
Forward Foreign Currency Exchange Contracts | $ — | $ 17,855 | $ — | $ 17,855 |
Total | $12,980,990 | $549,686,796 | $1,165,385 | $563,833,171 |
Liability Description | ||||
Forward Foreign Currency Exchange Contracts | $ — | $ (782,157) | $ — | $ (782,157) |
Total | $ — | $ (782,157) | $ — | $ (782,157) |
* | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Trust. |
Officers | |
Eric A. Stein President | Nicholas S. Di Lorenzo Secretary |
Deidre E. Walsh Vice President and Chief Legal Officer | Richard F. Froio Chief Compliance Officer |
James F. Kirchner Treasurer |
Trustees |
George J. Gorman Chairperson | |
Alan C. Bowser(1) | |
Thomas E. Faust Jr.* | |
Mark R. Fetting | |
Cynthia E. Frost | |
Valerie A. Mosley |
Anchal Pachnanda*(2) | |
Keith Quinton | |
Marcus L. Smith | |
Susan J. Sutherland | |
Scott E. Wennerholm | |
Nancy A. Wiser |
* | Interested Trustee |
(1) | Mr. Bowser began serving as Trustee effective January 4, 2023. |
(2) | Ms. Pachnanda began serving as Trustee effective April 1, 2023. |
Privacy Notice | April 2021 |
FACTS | WHAT DOES EATON VANCE DO WITH YOUR PERSONAL INFORMATION? |
Why? | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
What? | The types of personal information we collect and share depend on the product or service you have with us. This information can include:■ Social Security number and income ■ investment experience and risk tolerance ■ checking account number and wire transfer instructions |
How? | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Eaton Vance chooses to share; and whether you can limit this sharing. |
Reasons we can share your personal information | Does Eaton Vance share? | Can you limit this sharing? |
For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
For our marketing purposes — to offer our products and services to you | Yes | No |
For joint marketing with other financial companies | No | We don’t share |
For our investment management affiliates’ everyday business purposes — information about your transactions, experiences, and creditworthiness | Yes | Yes |
For our affiliates’ everyday business purposes — information about your transactions and experiences | Yes | No |
For our affiliates’ everyday business purposes — information about your creditworthiness | No | We don’t share |
For our investment management affiliates to market to you | Yes | Yes |
For our affiliates to market to you | No | We don’t share |
For nonaffiliates to market to you | No | We don’t share |
To limit our sharing | Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.comPlease note:If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. |
Questions? | Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com |
Privacy Notice — continued | April 2021 |
Who we are | |
Who is providing this notice? | Eaton Vance Management, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management (International) Limited, Eaton Vance Advisers International Ltd., Eaton Vance Global Advisors Limited, Eaton Vance Management’s Real Estate Investment Group, Boston Management and Research, Calvert Research and Management, Eaton Vance and Calvert Fund Families and our investment advisory affiliates (“Eaton Vance”) (see Investment Management Affiliates definition below) |
What we do | |
How does Eaton Vance protect my personal information? | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We have policies governing the proper handling of customer information by personnel and requiring third parties that provide support to adhere to appropriate security standards with respect to such information. |
How does Eaton Vance collect my personal information? | We collect your personal information, for example, when you■ open an account or make deposits or withdrawals from your account ■ buy securities from us or make a wire transfer ■ give us your contact informationWe also collect your personal information from others, such as credit bureaus, affiliates, or other companies. |
Why can’t I limit all sharing? | Federal law gives you the right to limit only■ sharing for affiliates’ everyday business purposes — information about your creditworthiness ■ affiliates from using your information to market to you ■ sharing for nonaffiliates to market to youState laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law. |
Definitions | |
Investment Management Affiliates | Eaton Vance Investment Management Affiliates include registered investment advisers, registered broker- dealers, and registered and unregistered funds. Investment Management Affiliates does not include entities associated with Morgan Stanley Wealth Management, such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. |
Affiliates | Companies related by common ownership or control. They can be financial and nonfinancial companies.■ Our affiliates include companies with a Morgan Stanley name and financial companies such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. |
Nonaffiliates | Companies not related by common ownership or control. They can be financial and nonfinancial companies.■ Eaton Vance does not share with nonaffiliates so they can market to you. |
Joint marketing | A formal agreement between nonaffiliated financial companies that together market financial products or services to you.■ Eaton Vance doesn’t jointly market. |
Other important information | |
Vermont: Except as permitted by law, we will not share personal information we collect about Vermont residents with Nonaffiliates unless you provide us with your written consent to share such information.California: Except as permitted by law, we will not share personal information we collect about California residents with Nonaffiliates and we will limit sharing such personal information with our Affiliates to comply with California privacy laws that apply to us. |
Two International Place
Boston, MA 02110
One Congress Street, Suite 1
Boston, MA 02114-2016
6201 15th Avenue
Brooklyn, NY 11219
Boston, MA 02110
Item 2. Code of Ethics
Not required in this filing.
Item 3. Audit Committee Financial Expert
Not required in this filing.
Item 4. Principal Accountant Fees and Services
Not required in this filing.
Item 5. Audit Committee of Listed Registrants
Not required in this filing.
Item 6. Schedule of Investments
Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not required in this filing.
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not required in this filing.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
No such purchases this period.
Item 10. Submission of Matters to a Vote of Security Holders
No material changes.
Item 11. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
No activity to report for the Registrant’s most recent fiscal year end.
Item 13. Exhibits
(a)(1) | Registrant’s Code of Ethics – Not applicable (please see Item 2). | |
(a)(2)(i) | Treasurer’s Section 302 certification. | |
(a)(2)(ii) | President’s Section 302 certification. | |
(b) | Combined Section 906 certification. |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Eaton Vance Senior Floating-Rate Trust | ||
By: | /s/ Eric A. Stein | |
Eric A. Stein | ||
President | ||
Date: | June 23, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Treasurer | ||
Date: | June 23, 2023 | |
By: | /s/ Eric A. Stein | |
Eric A. Stein | ||
President | ||
Date: | June 23, 2023 |