OXSQ - Earnings call transcript Q4 2024 | Oxford Square Capital Corp.

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Operator

Good morning, ladies and gentlemen, and welcome to the Oxford Square Capital Corp. Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] This call is being recorded on Friday, February 28, 2025.

I'd like to turn the conference over to Mr. Jonathan Cohen. ahead. go Please

Jonathan Cohen

Managing Welcome Quarter everyone. by Oxford Capital Yonon, Square Rubin, Manager. Good Earnings to Conference Fourth our Kevin and XXXX Financial today and Call. Corp. Portfolio our morning, Officer; the Director I'm Bruce joined

call open statements a disclosure Bruce, >. the regarding could with you forward-looking

Bruce Rubin

Please Sure, issued An our that property Oxford of morning's this point, Replay the form replay information prohibited. the of note included Any call to Square unauthorized in of in this this this is press for the Capital rebroadcast release recorded. conference At Jonathan. available please Corp. attention disclosure days. any being direct call regarding release your call XX was that forward-looking press morning. Today's in customary is is call audio will be this is strictly information.

conference from the reflect for most of other performance. results that filings, visit statements indicated do actual projections our to you by includes company's to to, important could at forward-looking future refer unless current We events Today's statements among and materially the SEC respect financial obtain filings our do with those and to SEC differ that things, to with that We required in these forward-looking To law. www.oxfordsquarecapital.com. so our not undertake latest cause factors copies call ask projections. recent update views the website please

to over With back that, I'll the turn Jonathan. presentation

Jonathan Cohen

Bruce. you, Thank

ended per for or quarter share December, net $X.XX was $X.XX million share prior the For $X.X or Square's quarter. the $X with investment approximately Oxford compared million per

of net prior compared asset share per value $X.XX to net Our $X.XX the quarter. to value the share for per asset

distributed common stock quarter, $X.XXX our to per share we the During shareholders.

for we recorded prior approximately investment the approximately the quarter. million $XX.X $XX million fourth of as compared with For income quarter, total

on of combined quarter, investments reported million unrealized and unrealized per investments approximately to losses compared In realized share and net $X.X for $X.XX million realized on or the fourth prior share combined $X.XX per were quarter. $X.XX approximately losses we or the

activity sales of repurchases investment $XX our quarter, million, million. consisted fourth $X approximately million the $XX.X of of During repayments of approximately of

December, in at-the-market During of X our proceeds approximately the billion. approximately of resulting in offering, common $X we total quarter of net stock million issued a ended shares

XX, of On the of per XXXX. declared February monthly and of of May Board share June $X.XXX our ending Directors distributions each April, months for

Additional record in morning. be details this payment our date information press and that was regarding can found issued release

With Kevin over turn that, to Yonon. it I'll

Kevin P. Yonon

Jonathan. Thank you,

the prices XX. the XX.XX% the December to ended as XX versus quarter. U.S. market index, par as Morningstar U.S. September increased of improved LSTA December During quarter defined loan of par XX, as by performance prior at loan at the from U.S. XX.XX% loan leveraged

basis increased to decreasing prices points. XXX BB-rated XX prices we pricing basis According see with increasing dispersion fee the points loan basis loan CCC-rated and XX rated LCD, some during quarter, points, loan prices

buyback which While of the trailing at captured to exchanges note default rates and the the cited remain are September, loan of at the X.X% not principal we that end subpar by index the the from XX-month default X.XX% for quarter end amount adcoestructuring rate elevated. in increased

the Additionally, the quarter. distress ended compared quarter par, at percentage defined XX% below third of X.X% of to the loans when as prices ratio at X.XX% of a end the

comparable the amendments LBO M&A XXXX. and XXXX, dividends funding non-refinancing representing XX, December XX, and prior the quarter XX% During and of issuance, primary million, $XX.X versus transactions, Leveraged and was December driven increase US excluding ended activity, quarter the including refinancings activity loan opportunistic including was by the repricing our market This year issuance, towards portfolio versus higher by been longer-term make investment fund long-term management inflows total to view the for quarter to And billion continue to same U.S. liver quarter. time, were on ended, a have maximize a historically permanent we $X.X capital we our loan vehicle, At return. as focus strategy. able the measured strategies as approximately ended designed

over call I to Jonathan. that, turn back with And will the

Jonathan Cohen

much, that website fourth very about Kevin. additional information posted to has performance been www.oxfordsquarecapital.com. Square's Oxford at We Thanks note our quarter

with open call Operator, for any to questions. that, we're happy the

Operator

appear I Instructions] be Cohen There [Operator closing to turn the back comments. Mr. questions. for over no call will to

Jonathan Cohen

to speaking this on their Thanks look again very much. to soon. thank participation much. I'd Thanks forward and we like for call, very everyone

Operator

thank conference for please your you and We participating, and ask your call for Ladies disconnect lines. gentlemen, that we you concludes this today.

Oxford Square Capital (OXSQ) 28 Feb 252024 Q4 Earnings call transcript