morning, Good operator. Thank you, everyone.
starting And late. you we're minutes sorry a Thank for couple call. earnings joining our
foremost, First sustain these well hope unique and safe in we stakeholders all of provision healthy, our and times. trying and
results announced we've Gilpin market I would and Last Ridge first steps night time Ted XXXX like to my and take results Portman taken discuss Portman. the Patrick and of at and some the CIO, state it the CFO, the portfolio before my to as respectively, quarter discussed see we Schafer
month infrastructure, the to - of environment. and highlights March investment was I Partners industry, in it ability to credit our in platform an capital, in human the the BC believe importance the but credit multi-strategy challenging adapt exceptionally the
of we at likelihood the volatility result. beginning month. of our XX highlighted XX quarterly liquid approximately to markets within of March in approximately the low XX and on returning the pricing the The to On end previous markets would the declined by index of approximately from call, in spreads XXrd the widening the primary be leveraged before a loan March
month financial October depths loan being top the market trading of the only the leveraged one the XXth, the seven the of worst five with of of all Six on global March, including occurred XXXX. crisis in the at in days,
loans considerably. has With a originated for backdrop, the slowed that newly as market
attractive loans While positions a new add-on recently financing, completed OID of sponsors, limited seen purchase acquisition activity M&A and to number have is opportunities levels. from at or we transactions attractive provide there
Additionally, in minimally previously that sourcing very the active will underwritten investments from be been COVID impacted companies in additional believe term. we have the in we long
an a liquidity companies We've in economy. unprecedented all as to who their sheets, buffer seen also in middle demand uncertainty put given from cash are balance the the market rise on looking for
are in new versus other finance and We own balancing and buying capital bonds. being such judicious back extremely deploying as it stock corporate initiatives, our
In a number of of leading we terms value. generate defensively be and itself, took downturn the into positioned steps Portman to shareholder
the discount earnings our of we could as announcement, during March. First, stock as purchased since month much at our bonds we of a previous in
volume are by buyback trading We and limited windows program. restrictions on our
Secondly, OHAI we bulk our the our the legacy revolver proactively JPMorgan. assets of to of use sale with from cash pay down the
of this can unilaterally could unilaterally borrowers, with dry dislocation, upon Finally, powder. our that period allowed by which commitments to called limited - we have unfunded have that were to heading into fortunate us be offensive be
late March, $XX.X million high-quality During price at $X.XX. loans lien average of an liquid first we of purchased opportunistically
attractive total elsewhere collection our extremely profile has which assets addition mark return In or the in in will some to market benefit the offsetting note years. in our has unsecured and of is of It coming shareholders quarters - borrowing over not portfolio, that to which benefit important this is XX% of declines an potentially any to debt base tests. and subject to liquidity
a investment results of the Schafer, Officer financial our our of over call brief Ted CFO for the then With review to that, I for Chief for overview activity. quarter Patrick and the Gilpin, our Investment would turn
some the conclude call I Before remarks. additional with
