OXSQ - Earnings call 4 2020 | Oxford Square Capital Corp.

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Operator

Good morning, everyone, and welcome to the Oxford Square Capital Corp. fourth quarter earnings call. [Operator Instructions] Please also note, today's event is being recorded. At this time, I'd like to turn the conference call over to Jonathan Cohen, CEO. Sir, please go ahead.

Jonathan Cohen

Thanks very much. welcome Oxford and Capital everyone, morning, to Square the Corp. Good XXXX Earnings Quarter Conference Fourth Call. by our and Saul our today statements. today joined I'm Rosenthal, regarding disclosure Kevin you the forward-looking our with could the CFO; President; Yonon, Managing Manager. Bruce, Director Portfolio open call and Rubin, Bruce

Bruce Rubin

with indicated financial you things, current could other undertake our statements law. at respect Jonathan. cause www.oxfordsquarecapital.com. With to to the factors company's back do of Monday Sure, was We in turn among available Please audio days. Square call forward-looking the presentation for SEC by prohibited. At in that morning. of Oxford Jonathan. Replay and our statements to actual SEC is of refer We Capital reflect performance. issued to conference your our disclosure of Corp. conference To with please release Any morning's for call most recent important to those do materially the information projections point, any property strictly An conference views visit recorded. attention call update included that so from our press XX Today's copies unauthorized our call website that release rebroadcast call regarding the is on to, projections. differ unless includes Monday Today's obtain the latest is information. customary these this the please that in this forward-looking being not form filings to filings, direct and ask that, replay results events will I'll in note this future be that press is forward-looking

Jonathan Cohen

Thanks, Bruce.

to asset quarter. $X.XX and $X.XX investment net ended for prior income investment share compared income quarter the $X.XX, net value stood of value per and at per Square's of per net asset the a December Oxford share per and For net share, $X.XX our XX, was share

total share on to quarter the recorded depreciation million with net of investments realized approximately income approximately per $XXX,XXX for quarter investment depreciation In $X.XX $X.X share recorded compared in losses In prior total, quarter. we of share quarter. In a unrealized fourth we we net XXXX, compared losses per with XXXX, investments fourth million the the million $XX.X per the we recognized increase million or on of to had assets share investments $XX.X share for in million $X.X per of or fourth as $X.XX from $X.X -- $XX.X approximately million of share or or of quarter. For realized the of of quarter of $X.XX net quarter, net increase approximately in net prior $X.XX or quarter. prior from $X.XX the per for on per of the $X.XX $XX.X fourth or approximately operations compared compared prior million unrealized a XXXX, assets for the approximately net operations

of as of During and that sales the activity XX, million. of approximately $XX.X our and consisted million million, purchases held approximately XXXX, cash approximately $XX.X we cash of $XX.X December million. We investment quarter of $XX.X of equivalents repayments fourth of approximately note

there settled which XXXX. of of of million, also purchases January $XX.X However, were approximately in all unsettled

approximately for XXXX. monthly distributions $XX.X of the declared $X.XXX equivalents Directors and XXXX, our of cash June XX, cash XX, share May As held April, March months and XXXX, of ending we of February Board of million. On per

call I'll and turn release in Monday the record can payment regarding over morning. With that, was portfolio press be that details manager, Kevin Additional our to issued information Yonon. on found date our

Kevin P. Yonon

Thank you, Jonathan.

XX. to defined to U.S. CCC-rated by Leveraged XX.XX% end on as of the ended from U.S. September December prices prices principal the Leveraged loan September LCD, of and amount XX.XX% as increasing According During XX, credit during par increasing the of dispersion at strengthened quarter versus ended prices, the increased at X.XX%, on decreased to quarter, Loan quarter default pricing prices the to B-rated December XX, loan the after market S&P/LSTA XX, loan the rate Loan loan X.XX% Index XXXX. Index of XXXX, par by with for continued average. starting increasing S&P/LSTA BB-rated X.XX%. The X.XX% loan X.XX%; quality related XX-month trailing the quarter quarter

to XX, ratio, par, March XX, X% peaking Additionally, of percentage at at after ended below XX% X.X% of as on defined price a XXXX. XX% the approximately the a September loans quarter with on distress compared

loan LIBOR, billion during XXXX, of of During outflows, outflows XXXX quarter issuance of moderated quarter issuance for versus outflows by Moreover, September outflows as billion. only was U.S. fund below XX, $X.X X.X% million the the with Total for approximately ended for XX. XXXX. were have ended primary market approximately measured billion, December approximately $XXX $XX $XX

our to maximize to portfolio We continue focus total strategies on long-term designed management return.

our As have a longer-term investment towards permanent strategy. able vehicle, capital we a to view been take historically

Jonathan Cohen

Oxford to Kevin. about Thanks Capital call up performance at has much, our the posted that, Square with any open quarter we're information that additional operator, fourth for note happy We And been very website to Corp.'s www.oxfordsquarecapital.com. questions.

Operator

and ladies turn I'm like showing gentlemen, questions. no the I'd floor for Mr. closing back to to remarks. And Instructions] any Cohen over [Operator

Jonathan Cohen

everyone you to speaking thank Thanks We you look very listened to Thank I'd much. soon. much, or call again very participated operator. replay. today the like in who who call via to forward to the

Operator

And conference ladies with and that thank call. we'll We you joining. gentlemen, for today's do conclude

your disconnect now lines. may You

Oxford Square Capital (OXSQ) 24 Mar 212020 Q4 Earnings call transcript