Kayne Anderson BDC (KBDC) reported FY 2025 total investment income of USD 235.8 million (up 10.7%), with net investment income of USD 117.6 million (down 9.0%). Net realized losses on investments were USD 0.1 million, while net change in unrealized losses on investments was USD 22.2 million; net increase in net assets resulting from operations totaled USD 93.7 million (down 29.0%). Net expenses were USD 118.2 million (up 41.1%), including interest and debt financing expenses of USD 76.4 million (up 24.2%), management fees of USD 21.7 million (up 24.0%), and incentive fees of USD 17.3 million. As of Dec. 31, 2025, KBDC’s portfolio included 107 portfolio companies with aggregate fair value of about USD 2.2 billion, plus unfunded commitments of USD 287.0 million. The portfolio mix was 93.2% first lien senior secured loans, 4.9% subordinated debt and 1.9% equity investments; 95.7% of debt investments had floating rates. Total debt investment weighted average yield was 10.3% at fair value (10.1% including non-income producing debt investments). KBDC reported five debt investments on non-accrual status, representing 1.4% of total debt investments at fair value (2.6% at cost), and watch list debt investments of USD 110.1 million, or 5.1% of total fair value of debt investments. Corporate updates included a regular dividend of USD 0.40 per share paid on Jan. 16, 2026 (USD 27.2 million total), and another USD 0.40 per share dividend declared on Feb. 12, 2026 for payment on Apr. 16, 2026. KBDC also amended its Revolving Funding Facility on Feb. 20, 2026, extending final maturity to Feb. 20, 2031 and reducing the borrowing spread to daily SOFR plus 1.95% from daily SOFR plus 2.15%. The company’s agent repurchased 1,020,586 shares from Jan. 1, 2026 to Feb. 20, 2026 for USD 14.5 million at an average price of USD 14.25, with USD 45.4 million remaining under the repurchase plan. As of Dec. 31, 2025, KBDC reported an asset coverage ratio of 198% and had USD 275.0 million of senior unsecured notes outstanding and USD 855.0 million borrowed under its credit facilities.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Kayne Anderson BDC Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001213900-26-022392), on March 02, 2026, and is solely responsible for the information contained therein.