OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
Company and Investment(1)(2) | Interest Rate /Effective Yield(3) | Spread Above Index(4) | Initial Acquisition Date | Maturity | Principal Amount | Amortized Cost | Fair Value(5) | Percent of Net Assets | ||||||||||||||||||
| CLO Debt Securities | ||||||||||||||||||||||||||
| Atlas Senior Loan Fund XX, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 14.71 | % | (SOFR + 9.43%) | 10/13/2022 | 10/19/2035 | $ | 2,000,000 | $ | 1,887,917 | $ | 2,002,785 | 1.7 | % | |||||||||||||
| Atlas Senior Loan Fund XXI, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 14.32 | % | (SOFR + 9.04%) | 7/20/2023 | 7/20/2035 | 1,450,000 | 1,352,250 | 1,475,394 | 1.2 | % | ||||||||||||||||
| Birch Grove CLO 5, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 13.93 | % | (SOFR + 8.65%) | 4/28/2023 | 4/20/2035 | 3,000,000 | 2,933,979 | 3,006,834 | 2.5 | % | ||||||||||||||||
| Birch Grove CLO 6, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 14.21 | % | (SOFR + 8.93%) | 7/7/2023 | 7/7/2035 | 2,500,000 | 2,438,299 | 2,539,705 | 2.1 | % | ||||||||||||||||
| Brightwood Capital MM CLO 2023-1, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class D | 11.76 | % | (SOFR + 6.46%) | 9/28/2023 | 10/15/2035 | 807,080 | 786,243 | 819,848 | 0.7 | % | ||||||||||||||||
| Mezzanine Debt - Class E | 15.66 | % | (SOFR + 10.36%) | 9/28/2023 | 10/15/2035 | 1,882,451 | 1,720,453 | 1,927,668 | 1.6 | % | ||||||||||||||||
| 2,689,531 | 2,506,696 | 2,747,516 | 2.3 | % | ||||||||||||||||||||||
| Elevation CLO 2023-17, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 13.44 | % | (SOFR + 8.16%) | 11/16/2023 | 10/20/2036 | 2,000,000 | 1,892,280 | 2,029,358 | 1.7 | % | ||||||||||||||||
| Empower CLO 2023-2, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 13.55 | % | (SOFR + 8.25%) | 8/22/2023 | 7/15/2036 | 2,000,000 | 2,000,000 | 2,021,753 | 1.7 | % | ||||||||||||||||
| Fortress Credit BSL X Limited | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 12.48 | % | (SOFR + 6.94%) | 8/1/2023 | 7/23/2032 | 2,500,000 | 2,309,128 | 2,500,465 | 2.1 | % | ||||||||||||||||
| Fortress Credit Opportunities VII CLO Limited | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 12.68 | % | (SOFR + 7.14%) | 8/1/2023 | 4/20/2033 | 3,750,000 | 3,421,039 | 3,750,926 | 3.1 | % | ||||||||||||||||
1
OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
Company and Investment(1)(2) | Interest Rate /Effective Yield(3) | Spread Above Index(4) | Initial Acquisition Date | Maturity | Principal Amount | Amortized Cost | Fair Value(5) | Percent of Net Assets | ||||||||||||||||||
| Gallatin CLO X 2023-1, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 13.52 | % | (SOFR + 8.22%) | 9/7/2023 | 10/14/2035 | $ | 4,000,000 | $ | 3,806,972 | $ | 4,030,204 | 3.3 | % | |||||||||||||
| Sound Point CLO 36, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 14.09 | % | (SOFR + 8.81%) | 8/9/2023 | 7/26/2030 | 2,500,000 | 2,360,377 | 2,541,339 | 2.1 | % | ||||||||||||||||
| Trinitas CLO XX, Ltd. | ||||||||||||||||||||||||||
| Mezzanine Debt - Class E | 13.43 | % | (SOFR + 8.15%) | 8/3/2023 | 7/20/2035 | 6,000,000 | 5,862,336 | 6,045,355 | 5.0 | % | ||||||||||||||||
| Total CLO Debt Securities | $ | 34,389,531 | $ | 32,771,273 | $ | 34,691,634 | 28.8 | % | ||||||||||||||||||
| CLO Equity Securities(6) | ||||||||||||||||||||||||||
| Allegro CLO 2021-2, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 17.11 | % | 8/23/2021 | 10/15/2034 | $ | 5,000,000 | $ | 3,739,188 | $ | 3,013,273 | 2.6 | % | ||||||||||||||
| Allegro CLO XV, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 19.84 | % | 6/10/2022 | 7/20/2035 | 4,640,000 | 3,232,051 | 3,043,958 | 2.6 | % | |||||||||||||||||
| Allegro CLO XVI, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 20.13 | % | 4/11/2024 | 4/25/2037 | 6,490,084 | 5,016,624 | 5,016,625 | 4.2 | % | |||||||||||||||||
| Anchorage Capital CLO 1-R Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(10) | 0.00 | % | 10/5/2018 | 4/13/2031 | 2,100,000 | 249,558 | 160,230 | 0.1 | % | |||||||||||||||||
| Apex Credit CLO 2020 Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 17.92 | % | 11/16/2020 | 10/20/2031 | 6,170,000 | 5,340,718 | 4,460,256 | 3.7 | % | |||||||||||||||||
| Apex Credit CLO 2021 Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 20.93 | % | 5/28/2021 | 7/18/2034 | 7,140,000 | 5,234,682 | 4,472,017 | 3.7 | % | |||||||||||||||||
2
OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
Company and Investment(1)(2) | Interest Rate /Effective Yield(3) | Spread Above Index(4) | Initial Acquisition Date | Maturity | Principal Amount | Amortized Cost | Fair Value(5) | Percent of Net Assets | ||||||||||||||||||
| Apex Credit CLO 2022-1 Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 13.10 | % | 4/28/2022 | 4/22/2033 | $ | 8,833,176 | $ | 7,171,896 | $ | 5,241,151 | 4.3 | % | ||||||||||||||
| Apex Credit CLO 2024-1, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 29.55 | % | 3/7/2024 | 4/20/2036 | 3,600,000 | 2,398,306 | 3,020,406 | 2.5 | % | |||||||||||||||||
| Atlas Senior Loan Fund X Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(8) | 0.00 | % | 10/5/2018 | 1/15/2031 | 5,000,000 | 2,033,362 | 230,550 | 0.2 | % | |||||||||||||||||
| Atlas Senior Loan Fund XVII Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 19.10 | % | 9/20/2021 | 10/20/2034 | 6,000,000 | 4,412,725 | 3,162,105 | 2.6 | % | |||||||||||||||||
| Battalion CLO IX Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes - Income(7) | 0.00 | % | 10/10/2018 | 7/15/2031 | 1,079,022 | 516,751 | 219,481 | 0.2 | % | |||||||||||||||||
| Subordinated Notes(7) | 0.00 | % | 10/10/2018 | 7/15/2031 | 1,770,978 | 848,107 | 360,230 | 0.3 | % | |||||||||||||||||
| 2,850,000 | 1,364,858 | 579,711 | 0.5 | % | ||||||||||||||||||||||
| Battalion CLO XI Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 7.40 | % | 3/20/2019 | 10/24/2029 | 5,000,000 | 3,499,341 | 2,240,841 | 1.9 | % | |||||||||||||||||
| Battalion CLO XV Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 31.04 | % | 5/4/2023 | 1/17/2033 | 3,500,000 | 1,742,255 | 1,740,704 | 1.4 | % | |||||||||||||||||
| Subordinated Notes | 31.04 | % | 5/4/2023 | 1/17/2033 | 3,500,000 | 1,742,255 | 1,740,704 | 1.4 | % | |||||||||||||||||
| 7,000,000 | 3,484,510 | 3,481,408 | 2.8 | % | ||||||||||||||||||||||
| Battalion CLO XIX Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 16.63 | % | 3/16/2021 | 4/15/2034 | 5,000,000 | 2,779,454 | 2,206,313 | 1.8 | % | |||||||||||||||||
| Bridge Street CLO III Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 20.80 | % | 12/28/2022 | 10/20/2034 | 6,900,000 | 3,923,374 | 5,057,595 | 4.2 | % | |||||||||||||||||
| Brightwood Capital MM CLO 2023-1, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 13.26 | % | 9/28/2023 | 10/15/2035 | 4,847,312 | 4,274,619 | 3,912,990 | 3.2 | % | |||||||||||||||||
3
OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
Company and Investment(1)(2) | Interest Rate /Effective Yield(3) | Spread Above Index(4) | Initial Acquisition Date | Maturity | Principal Amount | Amortized Cost | Fair Value(5) | Percent of Net Assets | ||||||||||||||||||
| Crown Point CLO 4 Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7) | 0.00 | % | 3/22/2019 | 4/20/2031 | $ | 5,000,000 | $ | 2,397,911 | $ | 1,248,925 | 1.0 | % | ||||||||||||||
| Dryden 38 Senior Loan Fund | ||||||||||||||||||||||||||
| Subordinated Notes(7) | 0.00 | % | 10/5/2018 | 7/15/2030 | 2,600,000 | 1,182,266 | 532,895 | 0.4 | % | |||||||||||||||||
| Dryden 76 CLO, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 9.26 | % | 9/27/2019 | 10/20/2032 | 2,250,000 | 1,880,905 | 1,253,124 | 1.0 | % | |||||||||||||||||
| Dryden 87 CLO, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 13.56 | % | 6/2/2021 | 5/20/2034 | 5,000,000 | 4,149,302 | 2,975,589 | 2.5 | % | |||||||||||||||||
| Dryden 95 CLO, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 14.00 | % | 7/29/2021 | 8/20/2034 | 6,000,000 | 4,724,353 | 3,386,880 | 2.8 | % | |||||||||||||||||
| Dryden 98 CLO, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 13.62 | % | 3/17/2022 | 4/20/2035 | 5,500,000 | 4,295,249 | 3,406,343 | 2.8 | % | |||||||||||||||||
| Elevation CLO 2017-8, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(8) | 0.00 | % | 10/5/2018 | 10/25/2030 | 2,000,000 | 635,841 | 58,673 | — | % | |||||||||||||||||
| Elevation CLO 2021-12, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 9.09 | % | 5/26/2021 | 4/20/2032 | 4,810,737 | 2,873,584 | 1,887,289 | 1.6 | % | |||||||||||||||||
| Elevation CLO 2021-13, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 3.92 | % | 6/9/2021 | 7/15/2034 | 6,026,765 | 4,300,223 | 2,418,179 | 2.0 | % | |||||||||||||||||
| Elevation CLO 2021-14, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 5.26 | % | 10/29/2021 | 10/20/2034 | 7,237,500 | 5,547,725 | 3,201,792 | 2.6 | % | |||||||||||||||||
4
OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
Company and Investment(1)(2) | Interest Rate /Effective Yield(3) | Spread Above Index(4) | Initial Acquisition Date | Maturity | Principal Amount | Amortized Cost | Fair Value(5) | Percent of Net Assets | ||||||||||||||||||
| Elevation CLO 2021-15, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 2.68 | % | 12/23/2021 | 1/5/2035 | $ | 9,000,000 | $ | 6,142,568 | $ | 3,087,235 | 2.6 | % | ||||||||||||||
| Empower CLO 2023-3, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 14.56 | % | 12/21/2023 | 1/20/2037 | 10,675,000 | 7,228,679 | 7,162,343 | 5.9 | % | |||||||||||||||||
| Empower CLO 2024-1, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 15.07 | % | 3/20/2024 | 4/25/2037 | 5,024,000 | 4,115,189 | 4,115,189 | 3.4 | % | |||||||||||||||||
| Empower CLO 2024-2, Ltd | ||||||||||||||||||||||||||
| Subordinated Notes | 15.16 | % | 6/26/2024 | 7/15/2037 | 1,350,000 | 1,141,812 | 1,141,812 | 0.9 | % | |||||||||||||||||
| Flatiron CLO 18 Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 5.62 | % | 10/5/2018 | 4/17/2031 | 4,500,000 | 2,680,309 | 2,084,079 | 1.7 | % | |||||||||||||||||
| Halcyon Loan Advisors Funding 2018-1 Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 5.99 | % | 3/20/2019 | 7/20/2031 | 3,000,000 | 1,532,562 | 731,236 | 0.6 | % | |||||||||||||||||
| HarbourView CLO VII-R, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(8) | 0.00 | % | 10/5/2018 | 11/18/2026 | 3,100,000 | 1,886,533 | — | — | % | |||||||||||||||||
| Invesco CLO 2021-2, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 27.28 | % | 5/24/2024 | 7/15/2034 | 6,000,000 | 3,038,291 | 3,018,513 | 2.5 | % | |||||||||||||||||
| Invesco U.S. CLO 2023-1, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 18.64 | % | 5/31/2024 | 4/22/2037 | 5,000,000 | 3,674,372 | 3,685,420 | 3.0 | % | |||||||||||||||||
| Jamestown CLO XVI, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 14.87 | % | 7/29/2021 | 7/25/2034 | 3,500,000 | 2,526,461 | 2,014,733 | 1.7 | % | |||||||||||||||||
5
OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
Company and Investment(1)(2) | Interest Rate /Effective Yield(3) | Spread Above Index(4) | Initial Acquisition Date | Maturity | Principal Amount | Amortized Cost | Fair Value(5) | Percent of Net Assets | ||||||||||||||||||
| LCM 31 Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 18.11 | % | 12/18/2020 | 1/20/2032 | $ | 1,350,000 | $ | 907,129 | $ | 723,377 | 0.6 | % | ||||||||||||||
| Madison Park Funding XXIII, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 11.33 | % | 10/5/2018 | 7/27/2047 | 4,000,000 | 1,962,939 | 1,785,218 | 1.5 | % | |||||||||||||||||
| Madison Park Funding XXIX, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 8.09 | % | 12/22/2020 | 10/18/2047 | 1,000,000 | 532,330 | 453,550 | 0.4 | % | |||||||||||||||||
| Marble Point CLO X Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7) | 0.00 | % | 10/5/2018 | 10/15/2030 | 7,000,000 | 2,821,711 | 482,803 | 0.4 | % | |||||||||||||||||
| Marble Point CLO XX Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 12.64 | % | 4/9/2021 | 4/23/2051 | 5,125,000 | 3,694,510 | 2,581,297 | 2.1 | % | |||||||||||||||||
| Marble Point CLO XXI Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 12.93 | % | 8/24/2021 | 10/17/2051 | 5,250,000 | 3,836,108 | 2,778,044 | 2.3 | % | |||||||||||||||||
| Marble Point CLO XXIII Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 14.39 | % | 12/3/2021 | 1/22/2052 | 1,750,000 | 1,356,521 | 1,014,150 | 0.8 | % | |||||||||||||||||
| MidOcean Credit CLO VII Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes - Income(7)(8) | 0.00 | % | 3/20/2019 | 7/15/2029 | 3,275,000 | 1,047,083 | — | — | % | |||||||||||||||||
| MidOcean Credit CLO VIII Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes - Income(7) | 0.00 | % | 1/14/2019 | 2/20/2031 | 3,225,000 | 1,571,656 | 422,922 | 0.3 | % | |||||||||||||||||
| MidOcean Credit CLO IX Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes - Income(7) | 0.00 | % | 11/21/2018 | 7/20/2031 | 3,000,000 | 1,471,083 | 253,784 | 0.2 | % | |||||||||||||||||
6
OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
Company and Investment(1)(2) | Interest Rate /Effective Yield(3) | Spread Above Index(4) | Initial Acquisition Date | Maturity | Principal Amount | Amortized Cost | Fair Value(5) | Percent of Net Assets | ||||||||||||||||||
| Niagara Park CLO, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 11.32 | % | 11/8/2019 | 7/17/2032 | $ | 4,500,000 | $ | 3,129,360 | $ | 2,559,660 | 2.1 | % | ||||||||||||||
| Octagon Investment Partners 39, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7) | 0.00 | % | 2/27/2020 | 10/20/2030 | 3,600,000 | 1,600,048 | 677,460 | 0.6 | % | |||||||||||||||||
| Rockford Tower CLO 2019-1, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 22.30 | % | 8/25/2023 | 4/20/2034 | 4,500,000 | 2,538,580 | 2,168,264 | 1.8 | % | |||||||||||||||||
| Sound Point CLO IV-R, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(8) | 0.00 | % | 11/2/2018 | 4/18/2031 | 4,000,000 | 599,847 | — | — | % | |||||||||||||||||
| Steele Creek CLO 2022-1, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 15.92 | % | 3/28/2022 | 4/15/2035 | 5,000,000 | 3,390,010 | 2,775,632 | 2.3 | % | |||||||||||||||||
| THL Credit Wind River 2014-3 CLO Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(8) | 0.00 | % | 10/10/2018 | 10/22/2031 | 2,778,000 | 1,099,947 | 130,562 | 0.1 | % | |||||||||||||||||
| Trinitas CLO VIII, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7) | 0.00 | % | 4/28/2021 | 7/20/2117 | 2,800,000 | 1,333,265 | 460,955 | 0.4 | % | |||||||||||||||||
| Vibrant CLO X, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(10) | 0.00 | % | 5/23/2019 | 10/20/2031 | 8,000,000 | 2,720,176 | — | — | % | |||||||||||||||||
| Vibrant CLO XIII, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 14.80 | % | 6/3/2021 | 7/15/2034 | 5,000,000 | 3,862,495 | 3,051,768 | 2.5 | % | |||||||||||||||||
| Vibrant CLO XV, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes | 26.32 | % | 8/21/2023 | 1/20/2035 | 4,000,000 | 2,501,412 | 2,537,447 | 2.1 | % | |||||||||||||||||
7
OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
Company and Investment(1)(2) | Interest Rate /Effective Yield(3) | Spread Above Index(4) | Initial Acquisition Date | Maturity | Principal Amount | Amortized Cost | Fair Value(5) | Percent of Net Assets | ||||||||||||||||||
| Voya CLO 2017-4, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(10) | 0.00 | % | 10/5/2018 | 10/15/2030 | $ | 1,000,000 | $ | 326,423 | $ | 43,968 | — | % | ||||||||||||||
| Wind River 2015-1 CLO, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7) | 0.00 | % | 4/28/2021 | 10/20/2030 | 2,600,000 | 963,671 | 289,363 | 0.2 | % | |||||||||||||||||
| Webster Park CLO, Ltd. | ||||||||||||||||||||||||||
| Subordinated Notes(7)(10) | 0.00 | % | 4/23/2021 | 1/20/2027 | 3,363,000 | 1,436,291 | 600,034 | 0.5 | % | |||||||||||||||||
| Zais CLO 3, Limited | ||||||||||||||||||||||||||
| Subordinated Notes - Income(7)(8) | 0.00 | % | 10/10/2018 | 7/15/2031 | 1,038,255 | 491,947 | 32,600 | — | % | |||||||||||||||||
| Subordinated Notes(7)(8) | 0.00 | % | 10/10/2018 | 7/15/2031 | 1,761,745 | 834,659 | 55,316 | — | % | |||||||||||||||||
| 2,800,000 | 1,326,606 | 87,916 | — | % | ||||||||||||||||||||||
| Total CLO Equity Securities | $ | 273,060,574 | $ | 170,138,602 | $ | 122,587,852 | 101.1 | % | ||||||||||||||||||
| Loan Accumulation Facilities(11) | ||||||||||||||||||||||||||
| Allegro CLO XVII, Ltd. | ||||||||||||||||||||||||||
| Loan Accumulation Facility | 17.50 | % | 5/15/2024 | 5/15/2025 | $ | 2,500,000 | $ | 2,500,000 | $ | 2,500,000 | 2.1 | % | ||||||||||||||
| Total Loan Accumulation Facilities | $ | 2,500,000 | $ | 2,500,000 | $ | 2,500,000 | 2.1 | % | ||||||||||||||||||
| Other CLO equity-related investments | ||||||||||||||||||||||||||
| CLO other(9) | 16.98 | % | $ | 1,123,430 | $ | 1,332,522 | 1.1 | % | ||||||||||||||||||
| Total Investments | $ | 309,950,105 | $ | 206,533,305 | $ | 161,112,008 | 133.1 | % | ||||||||||||||||||
| (1) | These investments are generally subject to certain limitations on resale, and may be deemed to be “restricted securities” under the Securities Act of 1933, as amended. | |
| (2) | OFS Credit Company, Inc. (the “Company”) does not “control” and is not an “affiliate” of any of its portfolio investments, each as defined in the Investment Company Act of 1940, as amended (the “1940 Act”). In general, under the 1940 Act, the Company would be presumed to “control” a portfolio investment if it owned 25% or more of its voting securities and would be an “affiliate” of a portfolio investment if the Company owned 5% or more of its voting securities. |
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OFS Credit Company, Inc.
Schedule of Investments
As of July 31, 2024
(Unaudited)
| (3) | The rate disclosed on collateralized loan obligation (“CLO”) equity securities is the estimated effective yield, generally established at purchase, and reevaluated upon the receipt of the initial distribution and each subsequent quarter thereafter. The estimated effective yield is based upon projected amounts and timing of future distributions and the projected amounts and timing of terminal principal payments at the time of estimation. The estimated effective yield and investment cost may ultimately not be realized. Projected cash flows, including the amounts and timing of terminal principal payments, which generally are projected to occur prior to the contractual maturity date, were utilized in deriving the effective yield of the investments. The rates disclosed on CLO debt securities reflect the contractual interest rate, and exclude yield related to accretion of discounts. The rate disclosed on Loan Accumulation Facilities (as defined in footnote 11) represents the estimated yield to be earned on the investment through estimated redemption. As of July 31, 2024, the Company’s weighted-average effective yield on its total investments, based on current amortized cost, was 12.71% (excludes discount accretion on CLO debt investments). When excluding optionally redeemed CLOs, the weighted average effective yield on total investments, based on current amortized cost, was 13.01%. | |
| (4) | CLO debt securities bear interest at a rate determined by reference to three-month Secured Overnight Financing Rate (“SOFR”) which resets quarterly. The rate provided for each CLO debt security is as of July 31, 2024. | |
| (5) | The fair value of all investments was determined in good faith by OFS Capital Management, LLC using significant, unobservable inputs. | |
| (6) | Subordinated notes and income notes are considered CLO equity securities. CLO equity securities are entitled to recurring distributions, which are generally equal to the residual cash flow payments made by underlying securities less contractual payments to debt holders and fund expenses, subject to compliance with coverage tests and other provisions of the respective CLO indenture, as applicable. | |
| (7) | As of July 31, 2024, the effective accretable yield has been estimated to be 0%, as the aggregate amount of projected distributions, including projected distributions related to liquidation of the underlying portfolio upon the security’s anticipated redemption, is equal to or less than current amortized cost. Projected distributions are monitored and re-evaluated quarterly. All actual distributions received will be recognized as reductions to amortized cost until such time, if and when occurring, a future aggregate amount of then-projected distributions exceeds the security’s then-current amortized cost. | |
| (8) | Non-income producing. | |
| (9) | Fair value represents discounted cash flows associated with fees earned from CLO equity-related investments. | |
| (10) | As of July 31, 2024, the investment has been optionally redeemed and is in the process of liquidating. Remaining residual distributions are anticipated to be recognized as a return of capital. | |
| (11) | “Loan Accumulation Facilities” are financing structures intended to aggregate loans that are expected to form part of the portfolio of a future CLO. Investments in Loan Accumulation Facilities generally earn returns equal to the actual income earned on facility assets less costs and fees incurred on senior financing and manager costs. Income and return of capital distributions from investments in Loan Accumulation Facilities are generally received upon the earlier of the closing of the CLO securitization or liquidation of the underlying portfolio. |
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