XAI Octagon Floating Rate & Alternative Income Term Trust
XFLT-PA
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Kimberly Flynn
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 321 North Clark Street, Suite 2430 Chicago IL United States of America 60654
- IPO Date
- May 20, 2020
- CIK
- 0001719223
- Website
- xainvestors.com
- Similar Companies
- Business
- XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE: XFLT; XFLT-PA) is a diversified, closed-end management investment company that seeks attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust invests primarily in a dynamically managed portfolio of floating-rate credit instruments and other structured credit investments within private below-investment-grade markets, including senior secured floating-rate loans; collateralized loan obligation (CLO) debt and CLO equity; and opportunistic credit such as long/short credit investments and stressed credits. Under normal market conditions, at least 80% of managed assets are allocated to such floating-rate credit instruments; the Trust utilizes leverage of up to 40% of managed assets through indebtedness, preferred shares, and portfolio leverage to enhance returns. XA Investments LLC serves as investment adviser and Octagon Credit Investors, LLC acts as sub-adviser, with Octagon bringing over 25 years of experience managing institutional credit portfolios; the Trust was founded on September 27, 2017, and is headquartered in Chicago, Illinois. The Trust's common shares trade on the NYSE under XFLT and its 6.50% Series 2026 Term Preferred Shares (with a $25 liquidation preference, maturing March 31, 2026) trade under XFLT-PA. Recent major developments include a January 2024 shareholder approval of a new sub-advisory agreement with Octagon to ensure continuity following Generali's acquisition of Octagon's parent, Conning Holdings Limited; a June 2024 agreement for a private placement of convertible preferred shares; and an October 2025 agreement for the private placement of $73 million of 5.92% Series A Mandatory Redeemable Preferred Shares with institutional investors. The Trust targets institutional-caliber alternative credit strategies for individual investors and maintains U.S.-focused operations with monthly distributions primarily from net investment income.