TSLX yield drops 100bps to 11.1% as spreads tighten; $200M joint venture commitment added

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 30, 2025 · ~1 min read

Key Changes

• high

  Portfolio yield fell from 12.1% to 11.1% year-over-year, driven by 90bps spread compression on new loans (7.0% to 6.1% over SOFR) and lower base rates, directly pressuring net investment income.

  MD&A: Portfolio Yield verify on EDGAR →
• high

  New $200 million commitment to Structured Credit Partners JV represents largest single allocation; $185.3 million remains unfunded, creating significant off-balance-sheet obligation.

  MD&A: Joint Venture Commitment verify on EDGAR →
• medium

  PIK interest rose to 7.5% of investment income (from 4.6%), indicating more deferred-interest loans where borrowers add interest to principal rather than paying cash.

  MD&A: PIK Interest verify on EDGAR →