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MRCC Update: Lower Recurring Income & Increased PIK

MRCC Update: Lower Recurring Income & Increased PIK

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BDC Buzz
Aug 04, 2021
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MRCC Update: Lower Recurring Income & Increased PIK
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Summary

  • MRCC reported just below its base case projections due to a continued decline in the amount of recurring interest income (now below $11 million per quarter).

  • Total income is now at its lowest level since 2017. The amount of non-cash/PIK income continues to increase and now accounts for 16% of interest income.

  • Same as the previous quarter, NII would…

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