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American Capital Senior Floating, Ltd. (ACSF) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

American Capital Senior Floating, Ltd.

HISTORY TOOLS
CIK: 1581934 Ticker: ACSF

Exhibit 99.1

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FOR IMMEDIATE RELEASE
March 14, 2018


AMERICAN CAPITAL SENIOR FLOATING REPORTS NET INVESTMENT INCOME FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2017

New York, NY - March 14, 2018 - American Capital Senior Floating, Ltd. (“ACSF” or the “Company”) (NASDAQ: ACSF) today reported net investment income of $2.5 million, or $0.25 per share, and net earnings of $2.5 million, or $0.25 per share, for the quarter ended December 31, 2017. ACSF reported net investment income of $10.6 million, or $1.06 per share, and net earnings of $5.7 million, or $0.57 per share, for the year ended December 31, 2017 and net asset value (“NAV”) of $130.9 million, or $13.09 per share, as of December 31, 2017.

FOURTH QUARTER 2017 FINANCIAL HIGHLIGHTS

•
Investing activities
◦
Invested $40.8 million into 15 new loan obligors and 4 new collateralized loan obligations (“CLO”s)
◦
Sold $20.0 million of investments and received $20.9 million of repayments, including distributions received from our collateralized loan obligations (“CLOs”)
•
Net investment income of $0.25 per share, or $2.5 million
◦
Decreased $0.01 per share from Q3 2017 net investment income of $0.26 per share
•
Net earnings of $0.25 per share, or $2.5 million
◦
Increased $0.25 per share from Q3 2017 net earnings of $0.00 per share due to net gains on investments in Q4 2017 as compared to net losses on investments in Q3 2017
•
NAV of $13.09 per share, or $130.9 million as of December 31, 2017
◦
$0.03 per share decrease from September 30, 2017 NAV per share of $13.12
•
Monthly cash distributions to stockholders of $0.097 per share ($0.291 for the quarter)
◦
8.9% annualized yield on the December 31, 2017 NAV per share
◦
11.1% annualized yield on the December 31, 2017 closing market price of $10.52 per share
•
$229.2 million investment portfolio at fair value as of December 31, 2017
◦
$170.9 million, or 74.6%, in first lien floating rate loans
◦
$14.4 million, or 6.3%, in second lien floating rate loans
◦
$43.8 million, or 19.1%, of equity in CLOs
•
7.05% investment portfolio yield at cost as of December 31, 2017
•
3.83% cost of funds as of December 31, 2017
•
0.67x debt to equity ratio as of December 31, 2017

YEAR ENDED 2017 FINANCIAL HIGHLIGHTS

•
Investing activities
◦
Invested $154.6 million into 86 new loan obligors and 9 new CLO equity positions
◦
Sold $78.0 million of investments and received $93.8 million of repayments, including distributions received from our CLOs
•
Net investment income of $1.06 per share, or $10.6 million
◦
Decreased $0.12 per share from 2016 net investment income of $1.18 per share
•
Net earnings of $0.57 per share, or $5.7 million
◦
$2.48 per share decrease from the 2016 net earnings of $3.05 per share
•
Cash distributions to stockholders of $1.164 per share declared in 2017

1
The following information was filed by American Capital Senior Floating, Ltd. (ACSF) on Wednesday, March 14, 2018 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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American Capital Senior Floating, Ltd.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside American Capital Senior Floating, Ltd.'s 10-K Annual Report:

Material Contracts, Statements, Certifications & more

American Capital Senior Floating, Ltd. provided additional information to their SEC Filing as exhibits

Exhibit 21: Subsidaries Of The Registrant
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
Ticker: ACSF
CIK: 1581934
Form Type: 10-K Annual Report
Accession Number: 0001581934-18-000008
Submitted to the SEC: Wed Mar 14 2018 7:34:49 AM EST
Accepted by the SEC: Wed Mar 14 2018
Period: Sunday, December 31, 2017
Industry: 1581934

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