- Earnings call transcript Q3 2022

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Operator

Good morning, and welcome to Oxford Square Capital Corp.

Third Quarter 2022 Earnings Conference Call. My name is Brika, and I will be your operator for today's conference. [Operator Instructions] I would now like to turn the call over to Jonathan Cohen for some introductory comments.

So Jonathan, you may begin.

Jonathan Cohen

much. very Thanks and everyone, the Square Oxford Good welcome Corp. Capital morning, to earnings XXXX quarter conference third call. by our Managing Saul our today joined I'm Rosenthal, Officer; Manager. Kevin Portfolio Chief President; and Yonon, and our Director Financial Rubin, Bruce Bruce, could a forward-looking statements? call discussion regarding open you the with

Bruce Rubin

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

Jonathan Cohen

Bruce. you, Thank

million prior compares per net was per Oxford investment net for income $X.XX the or of and This investment asset net $X.XX. of per share share September quarter. Square's For our million to and the $X.X or value approximately ended value $X.XX XX, asset $X.XX income approximately quarter grew share, net $X.X a

on approximately we quarter. million share quarter, recorded on to quarter. driven quarter. million prior the unrealized quarter, million approximately of $X.X CLO third investments unrealized or income third investments quarter, $XX.X In recorded gains prior the million investment the as of to for $XX,XXX or income $X.X we interest increase increase by of and depreciation third approximately realized to income principally That net income $XX.X total total the per investments. For approximately per prior the equity investment from compared our realized approximately losses net compared $X.XX in investments in we in compared of of million share the depreciation on reported $X.XX $XX.X for In was

activity repayments and our approximately During the of $X.X consisted quarter, third million purchases approximately investment of and million. $XX.X of sales

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

to press market. the our issued Kevin record and to that With that, over turn the this information payment be I'll morning. Additional Portfolio release our discuss details in found regarding was loan call can date Manager, Yonon,

Kevin Yonon

you, Thank Jonathan.

at on basis from prices XX-month During XXXX, or Leveraged quality, the U.S. volatile. increasing as August and points credit par the end XX.XX% with during trailing to the or related increased by XXX Morningstar June market Loan was Loan XX, quarter prices, points to pricing before the XX.XX% amount basis X.XX% as the average. X.XX% of LCD, of BB-rated from par loan prices loan decreasing June XX. by points LSTA X.X% ended prices X.XX%, of at derailed of decreasing Index Leverage there XX U.S. end basis principal dropping or X.XX% of quarter, as LSTA XX to loan XXXX. for to The XX the XX.XX% par as U.S. default XXX rate According to September at the of dispersion Index, the September CCC-rated loan defined Morningstar was U.S. quarter increased at

of distress the a with below of the par, at X.XX% ratio, compared approximately of loans Additionally, X% defined at the percentage price ended XX% end XXXX. June to quarter

During billion, ended quarter the ended XX% September XX, market $XX XXXX. an versus issuance approximately quarter XX, the XXXX, was primary September representing decline

year-to-date XX, the measured period. September activity. At lower by period ended M&A XXXX, declined driven time, fund for year-to-date by outflows, $XX.X the versus were approximately same the primary as Lipper, ended market the quarter billion refinancing September and This For issuance LBO XX% was prior U.S. XX.

portfolio focus our over we as strategies longer to to vehicle, towards to able our strategy. a on investment historically I been back call have permanent total We continue And capital that, will a designed With long-term Jonathan. maximize to turn take management return. the view

Jonathan Cohen

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

Operator

Instructions] [Operator

Jonathan Cohen

don't we questions. Operator, hear any

Operator

I questions. can we have confirm no

to turn Jonathan final like remarks. for it back some I'd So to

Jonathan Cohen

much. Thanks listening forward now to you thank who call, We Corp. their very on again this . speaking I'd like and Capital soon. in very who's listens Square to Thanks for much. to look everybody listens Oxford interest the who replay to

Operator

for That all call. does today's joining. you conclude Thank

lines. disconnect now may your You

Oxford Square Capital (OXSQ) 7 Nov 222022 Q3 Earnings call transcript