Audax Credit BDC Inc

CIK 0001633858Audax

Audax Credit BDC Inc. is a non-traded business development company advised by Audax. With $423 million in total assets, it is one of the smaller funds in the coverage universe. The portfolio is concentrated in direct lending, with 99% in first-lien senior secured loans and 100% floating-rate, at a weighted-average spread of 469 bps over the base rate. Its largest sector exposure is Industrials (10% of holdings).

NAV/Share

$8.90

AUM

$422.9M

Positions

456

Strategy

Private Credit

Wtd. Avg. Coupon

8.5%

Wtd. Avg. Spread

5 bps

Wtd. Avg. Maturity

3.7 yrs

98% coverage

Top 10 Concentration

11.3%

Instrument type

Share of portfolio fair value

First Lien

97%

of fair value

First Lien Senior Loans96.8%

Second Lien Loans0.7%

Equity2.4%

Fund Vehicles0.1%

Industry exposure

Share of holdings fair value

Top 5

92%

of holdings

Industrials10.0%

Health Care5.5%

Consumer Discretionary2.5%

Information Technology2.0%

Other2.0%

Materials1.9%

Consumer Staples1.6%

Financials1.4%

Energy0.8%

Unknown72.3%

Unknown sector positions lack GICS classification in the source filing or could not be reconciled.

Maturity profile

Share of debt fair value by years to maturity.

Risk & Credit Indicators

PIK in Terms

4.1%