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Palmer Square Capital BDC Inc. (NYSE: PSBD) announced its financial results for Q1 2024, with total investment income of $34.8 million, net investment income of $16.3 million or $0.52 per share, and a net asset value of $17.16 per share. The company declared a second quarter base dividend distribution of $0.42 per share.
Palm Square Capital Management has priced its first CLO, Palmer Square BDC CLO 1, worth $400.5 million, which is secured by broadly syndicated loans. This marks the 71st CLO issuance for the platform, managed by Palmer Square Capital BDC Inc. The transaction is the first CLO from PSBD, trading on the NYSE, investing in syndicated loans. With 46 CLOs totaling over $20 billion in assets managed, Palmer Square has a 5-year reinvestment period and a final maturity date in 2037. The deal was arranged by Bank of America. Palmer Square has issued $3.2 billion in CLOs year-to-date, showcasing disciplined credit selection and active portfolio management.
