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Franklin BSP Capital Corp Com has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes consolidated financial statements for the nine months ended September 30, 2024, showing total assets of $4,035,433,000 compared to $831,687,000 as of December 31, 2023. The increase in assets is primarily due to the merger with Franklin BSP Lending Corporation.
The company reported total investment income of $307,359,000 for the nine months ended September 30, 2024, compared to $70,558,000 for the same period in 2023. This increase is attributed to the expanded investment portfolio following the merger.
Operating expenses for the nine months ended September 30, 2024, were $162,456,000, compared to $30,324,000 in the same period of the previous year. The increase is due to higher management fees and incentive fees.
Net investment income for the nine months ended September 30, 2024, was $142,819,000, compared to $39,766,000 in the previous year.
The company recorded a net realized loss of $21,134,000 for the nine months ended September 30, 2024, compared to a loss of $341,000 in the previous year.
Net change in unrealized depreciation on investments was $32,005,000 for the nine months ended September 30, 2024, compared to $2,317,000 in the previous year.
Net increase in net assets resulting from operations attributable to common stockholders was $84,096,000 for the nine months ended September 30, 2024, compared to $31,679,000 in the previous year.
The company reported total liabilities of $2,011,083,000 as of September 30, 2024, compared to $366,170,000 as of December 31, 2023. The increase is mainly due to debt incurred to finance investments.
Franklin BSP Capital Corp Com had a net asset value per share attributable to common stock of $14.44 as of September 30, 2024, compared to $14.88 as of December 31, 2023.
The filing also details various financial agreements, including a new credit facility with JPMorgan Chase Bank, National Association (JPM-0.29%), and amendments to existing credit facilities.
The company continues to focus on generating income and capital appreciation through debt and equity investments in U.S. middle market companies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Franklin BSP Capital Corp Com quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.