Carlyle Credit Income Ord Stock Price, News & Analysis

Carlyle Credit Income Fund Shares of Beneficial Interest (NYSE: CCIF) is an externally managed, closed-end fund that focuses on credit investments. According to the Fund’s public disclosures, Carlyle Credit Income Fund is primarily dedicated to investing in equity and junior debt tranches of collateralized loan obligations ("CLOs"). These CLOs are backed by portfolios consisting mainly of U.S. senior secured loans to a large number of distinct underlying borrowers across various industry sectors.

The Fund is classified in the finance and insurance sector and is associated with the securities and commodity exchanges industry. Its shares of beneficial interest trade under the ticker symbol CCIF on the New York Stock Exchange, as noted in its SEC filings. The Fund is externally managed by Carlyle Global Credit Investment Management L.L.C. ("CGCIM"), which is described in company materials as an SEC-registered investment adviser and a wholly owned subsidiary of Carlyle. The Fund states that it draws upon the scale and resources of Carlyle, which it characterizes as one of the world’s largest CLO managers.

Investment focus and portfolio characteristics

Carlyle Credit Income Fund’s stated investment focus is on equity and junior debt tranches of CLOs. The underlying CLO portfolios consist primarily of below-investment-grade U.S. senior secured loans, diversified across many borrowers and industry sectors. Company communications emphasize exposure to CLO equity with remaining reinvestment periods, which can provide third-party CLO managers flexibility to actively manage the underlying loan pools.

Across multiple earnings announcements, the Fund highlights activity such as funding new CLO investments, completing CLO resets and refinancings, and managing a portfolio with a weighted average GAAP yield that reflects its focus on below-investment-grade credit risk. These disclosures underscore that the Fund’s strategy is closely tied to the performance and structure of CLO vehicles and the senior secured loan market that underlies them.

Management and external advisory structure

CCIF is described as an externally managed closed-end fund. Its external manager, Carlyle Global Credit Investment Management L.L.C., is an SEC-registered investment adviser and wholly owned subsidiary of Carlyle. Through this relationship, the Fund indicates that it benefits from Carlyle’s resources and experience in managing CLOs and credit strategies. The Fund’s public materials repeatedly reference Carlyle’s role as a large CLO manager, which is central to the Fund’s positioning in the credit markets.

Capital structure and preferred shares

The Fund’s SEC filings and press releases describe a capital structure that includes common shares of beneficial interest and multiple series of preferred shares. Common shares trade on the New York Stock Exchange under the symbol CCIF. Certain preferred shares, such as the 8.75% Series A Term Preferred Shares due 2028 (trading under CCIA on the NYSE), have been referenced in filings and press releases.

In addition, the Fund has disclosed several series of convertible and term preferred shares, including Series B, Series C, Series D, and 7.25% Series E Convertible Preferred Shares due 2030. These preferred securities generally have a stated liquidation preference per share, pay dividends at fixed annual rates, and may feature mandatory redemption dates, conversion rights into common shares, and priority over common shares with respect to dividends and distributions upon liquidation. The Fund’s SEC filings describe how these preferred shares rank relative to common shares and other obligations, and outline conditions under which the Fund may or must redeem or repurchase them.

Distribution practices and non-GAAP metrics

Across multiple quarterly earnings releases, Carlyle Credit Income Fund highlights its practice of declaring monthly dividends on its common shares and dividends on its preferred share series. The Fund’s communications describe dividends in terms of per-share amounts and periods for which they are declared. The Fund also discusses net investment income, adjusted net investment income per common share, and core net investment income per common share, which it identifies as non-GAAP financial measures used internally to analyze performance. The Fund states that these non-GAAP metrics are intended to help evaluate the quality of financial performance, identify trends, and provide period-to-period comparisons, while noting that they are not a substitute for GAAP results.

Exchange listing and regulatory filings

SEC filings confirm that CCIF’s common shares are registered under Section 12(b) of the Securities Exchange Act of 1934 and listed on the New York Stock Exchange. The Fund’s preferred shares have also been listed under separate symbols, and certain series have been the subject of redemption announcements and related regulatory filings.

A Form 25 filing by the New York Stock Exchange relates to the 8.75% Series A Preferred Shares due 2028, indicating removal of that class of securities from listing and/or registration on the Exchange. This Form 25 concerns the Series A Preferred Shares and does not state that the Fund’s common shares have been removed from listing.

Net asset value reporting

The Fund periodically reports management’s unaudited net asset value (NAV) per common share as of specific month-end dates through Current Reports on Form 8-K. These filings provide point-in-time NAV figures that reflect the Fund’s assessment of the fair value of its investment portfolio and other assets and liabilities at those dates. While these NAV figures are time-specific and may change, their disclosure underscores the Fund’s practice of updating investors on NAV between full financial statements.

Use of credit facilities and leverage-related arrangements

In its public communications, Carlyle Credit Income Fund has disclosed entering into a credit facility with a specified capacity and borrowing rate. The Fund also describes the relative priority of obligations under its credit agreement compared with preferred shares, indicating that certain indebtedness ranks senior to preferred shares with respect to payment rights. These disclosures highlight that the Fund may use leverage through credit facilities and preferred equity to pursue its investment objectives, subject to asset coverage and other regulatory requirements described in its filings.

Investor communications and conference calls

The Fund regularly announces the scheduling of quarterly and annual financial results and related investor conference calls. Press releases describe that results are released after market close on specified dates, followed by conference calls and public webcasts. The Fund notes that detailed earnings presentations and summary press releases are made available, and that recordings of calls are accessible through its website. This pattern of communication provides a recurring structure for investors to review the Fund’s performance, portfolio activity, and distribution decisions.

Status and regulatory context

Available SEC filings and press releases describe Carlyle Credit Income Fund as an operating, exchange-listed closed-end fund during the periods covered. The Form 25 filing pertains to the delisting of the 8.75% Series A Preferred Shares due 2028 from the New York Stock Exchange. The filings do not state that the Fund itself has ceased operations or that its common shares have been delisted. Investors reviewing CCIF should consider the Fund’s ongoing SEC reports, including Forms 8-K, N-CSR, N-PORT, and any prospectus or registration statements, for detailed and updated information on its structure, risks, and investment strategy.

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