Ok - so the new loan (and only one in the fund) yields 9%. Yet distributions have only increased to 7%. Seems bizarre when mgmt fees and expenses are not 2%... why horde any excess return? Up the yield to 8%.
Side note - discount to NTA has balooned again to ~15 - 18% (very strange for a credit play). Would it be in the best interest of shareholders to wind up and return all cash when the loan matures (mid-2024?)
TCF Price at posting:
$5.18 Sentiment: None Disclosure: Not Held
