shop and a million with for the bonds the report time. pleased us joining GECC. tack on [ today. investor, We we first ] July completed all am $XX Peter, Thanks, you for and in institutional had our busy a quarter thank utilizing to to an GECCI record-setting for I
with other debt in rate In in GECCH financings to January our out proceeds maturing JV. previous finally, formed utilized and a I than bonds am ever September, for lower the the us at next August, history income income leaving year that second quarter XX the was closed CLO recently no cash the the the highest but highest XXXX, highest, maturities we only our not also pleased we take and our report investment notes CLO our in as to months. In priced well. our GECC's And this
was quarter for it GECC NII strong Overall, exceeding XQ from rebounding in quarterly of our very third per $X.XX of $X.XX with $X.XX. distribution a share, and
flows to NII primarily attributed Our was growth the JV. our CLO driven in cash increase by
share NAV we the ended with flat XX. on June addition, quarter $XX.XX essentially of from In as per September $XX.XX XX, of
value we fair and quarter or $X.X believe has the continue XX. the September believe impact portfolio portfolio our of X% less and investments. to We than positions approximately realized. XX. as as declined nonaccrual portfolio to compares or X% our to bulk of we the solid, from This these fair of Nonaccruals totaled June remains NAV value in million million been of monitor $X.X actively Further, of
distributions down of start step due fourth to in nature Looking to NII forward, we the the at life. do their uneven CLO expect quarter of the
As expect fluctuations time. we would income to expand we our normalize quarterly base, scale these and over asset
scale. at GECC noise a for foundation laid increasing debt This numerous have million, into the our issuances of a year, adding time, and we These look completed lot XXXX we forward. same have our actions excess $XXX equity in while of as numbers, strong
scale well other cover ramp, to to raises, our our combined our positioned believe Additionally, capital we backed and as continue CLO-focused continue distributions increase with JV deployments strategic capital from remain by our our income from to recent to dividend. we
XX. we've is highlight quarter deployed venture where CLO our through strategy, success September of key joint million early the this approximately A $XX
warehouse encouraged are investment from strong large to August. in on the CLO and July settling initial first our in second our by related a distributions CLO return including our distribution investments, first investment on a the We CLO
cash a $XX our million approximately distributions $X JV receiving on third our return the million in strong we investment, Through invested. quarter, generated on
positions, Our exposure debt, interest first portfolio JV, which to floating by loans. by holds syndicated largely majority increases rate diverse lien are broadly financed investments primarily held risk. rate CLO long-term of mitigating GECC's a These CLOs floating rate the
also innovative enhances the We tax holding as equity compared CLO to BDC minimize structures loan to superior provides financing believe book our differences can structure our that typical JV ability directly create. and
source targeting We high expand time. significant of venture an XX% will teens income continue our as become believe joint continue GECC returns to CLO for increasingly we to to that vertical, the over
strategy. situated With financed in most has well cycles. class, are attractive our an to nonrecourse place, which foundation represent market investment on addition loans, them asset CLO one across bank we historically various the capitalize established of to demonstrated the CLOs resilience forms making of this
our to capital on structure. Moving
X.XXX% used we of quarter, notes the an underwriters the shoe their in GECCH million the with to and We due million us our refinancing issued $XX enhanced The October. XXXX successfully subsequently also beyond, outstanding $X.X maturity proceeds, and extends exercised cash During for full all XXXX. available debt due with redeem along into providing profile January net notes financial flexibility. X.XX% XXXX GECCM additional
diversified XXXX hand quarter enhanced strong sheet framework a and create solid I'd a portfolio. strategy. to that, investment discuss execute core to like Davis delivered as supported our call of our to over advance strengths results, platform, growth further by seek With we long-term strengthened These third the to to balance Keri we performance. Overall, quarter on our
