Q1’26 Yield Walk: Reported to Cash

octus
Content hub / Article / Octus / Q1’26 Yield Walk: Reported to Cash

The number of issuers with nonaccruals maturing through 2028 increased by 4% in Q1’26

BDCs reported annualized income yields of 9.6% in the first quarter. Removing noncash income from accretion of new issue discounts and reducing reported interest by PIK dividend results in annualized cash yields of 8.7%.

2026 Private Credit Investor Survey

Share your perspective

2026 Private Credit Investor Survey

Institutional investors, RIAs and financial advisors - we want to hear from you. Take this two-minute anonymous survey and receive the results report.
Take the survey
LSEG LPC's Large Corporate Leveraged & Middle Market Loans Conference

NYC | October 29, 2026

LSEG LPC's Large Corporate Leveraged & Middle Market Loans Conference

Join 250 delegates for a full day of insightful discussions on the most pressing issues facing the loan market.
Learn more
PitchBook's H1 2026 Global Private Debt Report

Report

PitchBook's H1 2026 Global Private Debt Report

Strong fundamentals, but uncertainty remains.
Download

Latest news

    Open Tab

    Leveraged loans keep running up a tab. Senior direct lending already knows what it owes.

    Read More

    High-Yield Bond Statistics

    Read More

    Information technology topped nonaccruals on a cost basis

    Maturities of loans switching to at least partial PIK tends to be longer-dated than Octus’ other stress trackers: nonaccrual and fair value write-down reports.

    Read More