Kohlberg Capital Corp. (KCAP, Financial) filed Quarterly Report for the period ended 2010-09-30.
Kohlberg Capital Corp. has a market cap of $156.43 million; its shares were traded at around $6.92 with a P/E ratio of 17.3 and P/S ratio of 4.61. The dividend yield of Kohlberg Capital Corp. stocks is 9.83%.
Our common stock is traded on The NASDAQ Global Select Market under the symbol “KCAP.” The net asset value (“NAV”) per share of our common stock at September 30, 2010 was $8.84. On September 30, 2010, the last reported sale price of a share of our common stock on The NASDAQ Global Select Market was $6.69.
Our NAV per share was $8.84 and $9.56 as of September 30, 2010 and December 31, 2009, respectively. As we must report our assets at fair value for each reporting period, NAV also represents the amount of stockholder s equity per share for the reporting period. Our NAV is comprised mostly of investment assets less debt and other liabilities:
We are in compliance with all covenants and terms as provided in the Settlement Agreement. Under the Settlement Agreement, we must have advances outstanding under the Facility of no greater than $125 million as of September 30, 2010. Under the terms of the Settlement Agreement, we calculate the advances outstanding under the Facility after consideration of amortization and pre-payments in the next scheduled distribution to the lenders, and as of September 30, 2010 the Company s advances outstanding, calculated in accordance with the Settlement Agreement, was approximately $116 (the reported outstanding balance of $137 million less approximately $20 million of pre-payments scheduled for settlement on October 10, 2010).
The weighted average daily debt balance for the six months ended September 30, 2010 and 2009 was approximately $141 million and $231 million, respectively. For the three months ended September 30, 2010 and 2009, the weighted average interest rate on outstanding borrowings was approximately 4% and 5% respectively, which excludes the amortization of deferred financing costs and facility and program fees on unfunded balances. As of September 30, 2010, the Company had restricted cash and time deposit balances of approximately $20 million which it maintained in accordance with the terms of the Facility.
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Kohlberg Capital Corp. has a market cap of $156.43 million; its shares were traded at around $6.92 with a P/E ratio of 17.3 and P/S ratio of 4.61. The dividend yield of Kohlberg Capital Corp. stocks is 9.83%.
Highlight of Business Operations:
We are an internally managed, non-diversified closed-end investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). We originate, structure and invest in senior secured term loans, mezzanine debt and selected equity securities primarily in privately-held middle market companies. We define the middle market as comprising companies with earnings before interest, taxes, depreciation and amortization, which we refer to as “EBITDA,” of $10 million to $50 million and/or total debt of $25 million to $150 million. In addition to our middle market investment business, our wholly-owned portfolio company, Katonah Debt Advisors, manages collateralized loan obligation funds (“CLO Funds”) that invest in broadly syndicated loans, high-yield bonds and other corporate credit instruments. We acquired Katonah Debt Advisors and certain related assets prior to our initial public offering from affiliates of Kohlberg & Co., LLC (“Kohlberg & Co.”), a leading private equity firm focused on middle market investing. As of September 30, 2010, Katonah Debt Advisors had approximately $2.1 billion of assets under management.Our common stock is traded on The NASDAQ Global Select Market under the symbol “KCAP.” The net asset value (“NAV”) per share of our common stock at September 30, 2010 was $8.84. On September 30, 2010, the last reported sale price of a share of our common stock on The NASDAQ Global Select Market was $6.69.
Our NAV per share was $8.84 and $9.56 as of September 30, 2010 and December 31, 2009, respectively. As we must report our assets at fair value for each reporting period, NAV also represents the amount of stockholder s equity per share for the reporting period. Our NAV is comprised mostly of investment assets less debt and other liabilities:
We are in compliance with all covenants and terms as provided in the Settlement Agreement. Under the Settlement Agreement, we must have advances outstanding under the Facility of no greater than $125 million as of September 30, 2010. Under the terms of the Settlement Agreement, we calculate the advances outstanding under the Facility after consideration of amortization and pre-payments in the next scheduled distribution to the lenders, and as of September 30, 2010 the Company s advances outstanding, calculated in accordance with the Settlement Agreement, was approximately $116 (the reported outstanding balance of $137 million less approximately $20 million of pre-payments scheduled for settlement on October 10, 2010).
The weighted average daily debt balance for the six months ended September 30, 2010 and 2009 was approximately $141 million and $231 million, respectively. For the three months ended September 30, 2010 and 2009, the weighted average interest rate on outstanding borrowings was approximately 4% and 5% respectively, which excludes the amortization of deferred financing costs and facility and program fees on unfunded balances. As of September 30, 2010, the Company had restricted cash and time deposit balances of approximately $20 million which it maintained in accordance with the terms of the Facility.
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