CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Investcorp Credit Management BDC (ICMB)

BDC - Debt Focused BDC

Data as of Sept. 28, 2020
Current
Market Price $3.61 (- $0.22)
NAV (June 30, 2020) $7.79 ( $0.00)
Premium / Discount -53.66% (-2.82%)
Fund Info
Inception Feb. 6, 2014
Sponsor Investcorp Credit Management
Website http://icmbdc.com/
Phone (212) 257-5199
Objective: Total return in the form of current income and capital appreciation through debt and related equity investments of U.S. middle-market companies.
Related Indexes
High Income Index
Capital & Leverage
Outstanding Shares 13,894,635
Total Assets (Reported: June 30, 2020) $296M
Estimated Total Assets $283M
Net Assets $108M
Market Cap $50M
Debt-to-Equity 1.6960
Total Leverage 61.79%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 13.40%
Non Lev Exp Ratio 8.09%
Gross Asset Expense Ratio 5.67%
Gross Asset Non Lev Exp Ratio 3.42%
Rel Lev Cost 3.64%
Discount Data
Average Discount (3 Yr) -36.77%
Discount Low(3 Yr) -85.32%
Discount High(3 Yr) -21.27%
Discount Rel Range 49.44%
Comp Discount -28.12
Discount St Dev (1Yr) 13.69
Z-Stat
Z-Stat (6mo) 0.14
Z-Stat (1Yr) -0.61
Z-Stat (3Yr) -1.59
Comp Z-Stat (6mo) -0.17
Comp Z-Stat (3Yr) -0.42
Distribution Data
Market Yield 16.62%
Income Yield 16.62%
Lev Adj NAV Yield 4.76%
Av Yield on Debt Investments 9.58
Distribution Frequency Q
Current Distribution $0.150
Current Income $0.150
Ex-Date 9/24/20
Payable Date 9/30/20
Div Growth (3yr) -40.00%
Dividend Change -40.0% on 5/7/20
Expected Div 11/6/20
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Tax Dividend Data 2019 2017 - 2019
Income 100% 100%
ST Gains 0% 0%
QDI 0% 14.4%
LT Gains 0% 0%
RoC 0% 0%
Volume & Liquidity
Average Daily $ (M) $96
Avg Volume 30 day 40,802
Avg Volume 90 day 26,566
Volume Trend 53.59%
Comp Volume Trend 52.15%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
44.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
44.0%
Price Correlation (1yr)
vs. CEFA's BDC Index
33.0%
Most Correlated Peer (Mk Pr): CPTA 54.0%
Price St Dev (1Yr) 96.6%
NAV St Dev (1Yr) 20.2%
Earnings
Earnings / Share (6/30/20) $0.247
Adj Core NII Coverage 164.79%
1 Yr Avg NII Coverage 135.83%
1 Yr Avg Adj Core NII Coverage 137.45%
NII Trend -6.97%
Adj Core NII Trend -5.14%
Performance
Price Beta (2yr)
vs. S&P 500 (TR)
1.05
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
0.98
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
0.58
Portfolio Data
Avg Libor Floor % 1.13%
% Loans with Libor Floor 89%

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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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