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Guggenheim Credit Income Fund I (1618696) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

Guggenheim Credit Income Fund 2019

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CIK: 1618696
cciflogoweba04.jpg
 
Exhibit 99.1
                                    

CAREY CREDIT INCOME FUND
FIRST QUARTER 2017 OVERVIEW
This overview contains details about the portfolio and operating results for the quarter ended March 31, 2017 of Carey Credit Income Fund ("CCIF" or the "Company") and its feeder funds, Carey Credit Income Fund — I ("CCIF - I") and Carey Credit Income Fund 2016 T ("CCIF 2016 T"). This overview should be read in conjunction with the CCIF - I and CCIF 2016 T Quarterly Reports on Form 10-Q, which each incorporate the CCIF Quarterly Report on Form 10-Q, as filed with the U.S. Securities and Exchange Commission (the "SEC") on May 15, 2017.
CCIF First Quarter 2017 Portfolio Highlights
•
As of March 31, 2017, CCIF had total assets of $382 million, compared to total assets of $305 million as of December 31, 2016.
•
For the three months ended March 31, 2017, CCIF invested $87 million, 64% of which was in directly originated debt investments. For the year ended December 31, 2016, CCIF invested $268 million, 51% of which was in directly originated debt investments.
•
CCIF's portfolio investments at fair value totaled $330 million as of March 31, 2017, of which 90% was in senior secured investments. The portfolio consisted of 82 investments across 61 portfolio companies.
•
CCIF's gross portfolio yield as of March 31, 2017 was 7.9%, compared to 8.2% as of December 31, 2016.1 
•
As of March 31, 2017, CCIF had one debt investment on non-accrual status, which represented 1% of total investments on both a fair value basis and an amortized cost basis.
First Quarter 2017 Public Offering Highlights
•
Please see below for offering-specific highlights for the quarter ended March 31, 2017:
 
Three Months Ended March 31, 2017
 
CCIF - I
CCIF 2016 T
Distributions paid per share
$0.45
$0.16
Total investment return (net asset value, non-annualized)2
2.58
%
2.42
%
Net asset value per share
$25.95
$9.17
Gross proceeds from offering ($ in thousands)
$9,439
$49,197
 
 
 
•
CCIF 2016 T concluded its public offering on April 28, 2017, having raised $164 million since inception.
•
As of March 31, 2017, CCIF - I raised cumulative gross proceeds of $29.3 million since inception.
________________________
(1)
Weighted average effective yield is calculated as the effective yield of each investment and weighted by its amortized cost as compared to the aggregate amortized cost of all investments. Effective yield is the return earned on investments net of any discount, premium, or issuance costs. Effective portfolio yield for the total debt portfolio is calculated before considering the impact of leverage or any operating expenses, and cash, restricted cash, non-income producing assets and equity investments are excluded.
(2)
Total investment return-net asset value is a measure of the change in total value for shareholders who held the company’s common shares at the beginning and end of the period, including distributions declared during the period. Total investment return-net asset value is based on (i) net asset value per share on the first day of the period, (ii) the net asset value per share on the last day of the period, plus any shares issued in connection with the reinvestment of monthly distributions, and (iii) distributions payable relating to the ownership of shares, if any, on the last day of the period. The total investment return-net asset value calculation assumes that (i) monthly cash distributions are reinvested in accordance with the Company’s distribution reinvestment plan and (ii) the shares issued pursuant to the distribution reinvestment plan are issued at the then current public offering price, net of sales load, on each monthly distribution payment date. Since there is no public market for the company’s shares, terminal market value per share is assumed to be equal to net asset value per share on the last day of the period presented. Investment performance is presented without regard to sales load that may be incurred by shareholders in the purchase of the company’s common shares. The company’s performance changes over time and currently may be different than that shown above. Past performance is no guarantee of future results. Total investment return-net asset value is not annualized.

- 1 -
The following information was filed by Guggenheim Credit Income Fund 2019 on Friday, May 26, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Guggenheim Credit Income Fund 2019's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

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Guggenheim Credit Income Fund 2019 provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32: Section 1350 Certification
Exhibit 99: Guggenheim Credit Income Fund Form 10-Q
CIK: 1618696
Form Type: 10-Q Quarterly Report
Accession Number: 0001618696-17-000081
Submitted to the SEC: Thu Nov 09 2017 10:54:31 AM EST
Accepted by the SEC: Thu Nov 09 2017
Period: Saturday, September 30, 2017
Industry: 1618696

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