Welcome to our dedicated page for Palmer Square Capital Bdc news (Ticker: PSBD), a resource for investors and traders seeking the latest updates and insights on Palmer Square Capital Bdc stock.
Palmer Square Capital BDC Inc. (NYSE: PSBD) is an externally managed, non-diversified closed-end management investment company that has elected to be regulated as a business development company under the Investment Company Act of 1940. Public communications from the company emphasize its focus on lending to and investing in corporate debt loans and other corporate debt securities, with an investment objective of maximizing total return through current income and capital appreciation.
This news page aggregates coverage of the key developments disclosed by Palmer Square Capital BDC Inc., including quarterly and annual financial results, dividend declarations, and other material events reported in press releases and related Form 8-K filings. Recent announcements have highlighted total investment income, net investment income, net asset value per share, portfolio composition, and the level of investments on non-accrual status, as well as details about the company’s credit facilities and liquidity.
Investors following PSBD news can expect regular updates on base dividend distributions and supplemental dividends that are paid from quarterly undistributed net investment income above the base dividend. The company also announces earnings release dates and conference calls, where management reviews financial performance and discusses portfolio activity, including new investments, sales, and repayments across its corporate debt loan and CLO-related holdings.
In addition to BDC-specific news, this page may reference information from Palmer Square Capital Management, the affiliated credit-focused alternative asset management firm whose affiliate, Palmer Square BDC Advisor LLC, manages PSBD’s investment activities. Together, these disclosures provide context on how the BDC fits within a broader fixed income and credit platform. For those tracking PSBD, the news feed offers a centralized view of the company’s reported financial metrics, portfolio trends, distribution practices, and capital markets activity over time.
Palmer Square Capital BDC Inc. (NYSE: PSBD) has announced a supplemental dividend of $0.05 per share for the third quarter of 2024. This dividend will be paid to shareholders of record as of September 27, 2024, with the payment date set for October 14, 2024. The supplemental dividend is in addition to the company's base dividend of $0.42 per share for the same quarter, which will be paid on the same date to the same group of shareholders.
The supplemental dividend is being funded from the excess of Palmer Square's quarterly undistributed net investment income, above the base dividend amount. This announcement demonstrates the company's ability to generate income beyond its regular dividend commitment.
Palmer Square Capital Management, a credit-focused asset manager with over $32 billion in assets under management, has launched two new ETFs: The Palmer Square Credit Opportunities ETF (PSQO) and The Palmer Square CLO Senior Debt ETF (PSQA). PSQO is an actively managed multi-asset credit strategy, while PSQA is a passive fund focused on AAA and AA tranches of the US CLO market.
The firm, a top global CLO issuer, aims to leverage its expertise in credit strategies and CLO management to provide investors with enhanced access to credit assets. PSQO offers a comprehensive multi-asset credit allocation, while PSQA tracks a proprietary CLO Senior Debt Index (CLOSE). Both ETFs are set to begin trading on September 12, 2024, with Palmer Square ringing the opening bell at the New York Stock Exchange.
Palmer Square Capital Management has hired Courtney Cytryn as an Executive Director based in New York. Cytryn brings extensive business development experience to the firm, focusing on enhancing relationships within institutional asset management and investment banking, particularly for the company's Business Development Company (BDC) and upcoming ETF platforms. Previously, Cytryn served as Vice President at Goldman Sachs, managing business development for their multi-asset platform sales desk. She has over 10 years of experience on Wall Street, including roles at Bloomberg and Macquarie Group. The hire aims to strengthen Palmer Square's position in credit alternatives and expand its platform to deliver solutions for clients in the current financing environment.
Palmer Square Capital BDC Inc. (NYSE: PSBD) announced its second quarter 2024 financial results, reporting a total investment income of $36.5M, up from $27.4M in the prior year period. Net investment income was $15.8M or $0.48 per share, compared to $14.2M or $0.56 per share last year. The company declared a third quarter base dividend of $0.42 per share payable on October 14, 2024. However, PSBD also reported total net realized and unrealized losses of $10.4M compared to gains of $9.7M in Q2 2023.
As of June 30, 2024, PSBD's total assets stood at $1.5B and total net assets at $549M, with a debt-to-equity ratio of 1.49x. Notably, all investments were income producing with no loans on non-accrual status. Additionally, a $400.5M CLO was closed in collaboration with Bank of America in May 2024. The company's NAV per share was $16.85, down from $17.16 in Q1 2024.
Palmer Square Capital BDC (NYSE: PSBD) has announced that it will release its second quarter 2024 financial results on August 8, 2024, before the market opens. Following the release, a conference call will be held at 1:00 pm ET to review the financial performance and conduct a Q&A session.
To participate in the call, registration is required on the Palmer Square Investor Relations website. The call can be accessed via US and international phone numbers, with an entry passcode of 1803382#. A replay of the webcast will be available shortly after the event.
Palmer Square Capital BDC (NYSE: PSBD) announced a second quarter 2024 supplemental dividend of $0.05 per share. Shareholders who are on record as of June 28, 2024, will receive the dividend on July 16, 2024. This supplemental dividend comes from the company's excess undistributed net investment income, which is over and above the base dividend of $0.42 per share also payable on July 16, 2024.
Palmer Square Capital Management announced over $1.8 billion in CLO issuances across three benchmark transactions in the past week. The firm priced a $1.0 billion static CLO, the largest BSL CLO deal of 2024, with the AAA tranche at 108 basis points. Additionally, a €416 million European CLO reinvestment transaction set a new benchmark for European AAA pricing. Palmer Square's publicly traded BDC, Palmer Square Capital BDC (NYSE: PSBD), also priced a $400.5 million debut CLO. Overall, Palmer Square has issued $4.2 billion in CLOs this year. CEO Christopher Long highlighted the firm's disciplined approach and industry-leading team.
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.
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