NCDL Reports Q3 2026 Earnings with Increased Originations via New Joint Venture
NCDL reported its third-quarter 2026 financial results, highlighted by a significant surge in gross originations to $213.3 million, up from $12.1 million in the previous quarter. This growth was primarily driven by the launch of a new joint venture, NCDL Senior Loan Fund I LLC, which has already seen $92.75 million in capital commitments and an annualized return of 13.6% for the quarter. Despite the growth in activity, Net Asset Value (NAV) saw a slight decrease of 0.3% to $17.13 per share due to net realized and unrealized losses. However, the company maintained strong coverage for its regular quarterly distribution, with Net Investment Income (NII) reaching $0.38 per share against a $0.36 dividend. The firm also successfully tapped its 2030 unsecured notes for an additional $100 million to bolster liquidity.
Topics: Debt-to-Equity Ratio Gross Originations Joint Venture Net Asset Value Net Investment Income
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