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. reports recurring developments as an externally managed, non-diversified closed-end management investment company that has elected regulation as a business development company under the Investment Company Act of 1940. The company primarily lends to and invests in corporate debt loans, including large private U.S. companies in the broadly syndicated loan market and the direct large-cap private credit market, with additional exposure to other debt securities such as collateralized loan obligation debt and equity.
News about PSBD commonly covers quarterly and annual financial results, net investment income, net asset value, portfolio yield, senior secured loan exposure, non-accrual investments, leverage and total return. Updates also include base and supplemental dividend declarations, earnings-call announcements and portfolio composition across industries and portfolio companies.
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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