Business
TCG BDC, Inc. Announces First Quarter 2020 Financial Results and Declares Second Quarter 2020 Dividend of $0.37 Per Share
NEW YORK, May 05, 2020 (GLOBE NEWSWIRE) -- TCG BDC, Inc. (together with its consolidated subsidiaries, “we,” “us,” “our,” “TCG BDC” or the “Company”) (NASDAQ:
About this update from Carlyle Secured Lending, Inc.
[{"type":"text","content":"NEW YORK, May 05, 2020 (GLOBE NEWSWIRE) -- TCG BDC, Inc. (together with its consolidated subsidiaries, “we,” “us,” “our,” “TCG BDC” or the “Company”) (NASDAQ: CGBD) today announced its financial results for its first quarter ended March 31, 2020.\n Linda Pace, TCG BDC’s Chief Executive Officer, said, \"The world continues to deal with an unprecedented health and economic crisis, and our thoughts are with all front line workers. TCG BDC has performed very well during the early stages of this crisis. In the month of April we have acted proactively and decisively, pursuing select asset sales and raising preferred equity on attractive terms. These actions help to both bring our net financial leverage back in-line with our targeted range and also reinforce the flexibility of our balance sheet as we manage through a highly uncertain environment. As a result, we remain in a strong position to both support our portfolio and to invest in new opportunities.” Selected Financial Highlights (dollar amounts in thousands, except per share data)March 31, 2020 December 31, 2019Total investments, at fair value$2,024,277 $2,123,964 Total assets2,126,826 2,187,533 Total debt1,262,960 1,177,832 Total net assets$798,534 $956,471 Net assets per share$14.18 $16.56 For the three month periods ended March 31, 2020 December 31, 2019Total investment income$50,545 $53,465 Net investment income (loss)23,972 25,377 Net realized gain (loss) and net change in unrealized appreciation (depreciation) on investments and non-investment assets and liabilities(145,072) 1,459 Net increase (decrease) in net assets resulting from operations$(121,100) $26,836 Basic and diluted per weighted-average common share: Net investment income (loss)$0.42 $0.43 Net realized gain (loss) and net change in unrealized appreciation (depreciation) on investments and non-investment assets and liabilities(2.57) 0.02 Net increase (decrease) in net assets resulting from operations$(2.15) $0.46 Weighted-average shares of common stock outstanding—Basic and Diluted57,112,193 58,784,971 Regular dividends declared per common share$0.37 $0.37 Special dividends declared per common share$— $0.18 First Quarter 2020 Highlights(dollar amounts in thousands, except per share data) Net investment income for the three month period ended March 31, 2020 was $23,972, or $0.42 per share, as compared to $25,377,...