Business
TCG BDC, Inc. Announces Second Quarter 2020 Financial Results and Declares Third Quarter 2020 Regular Dividend of $0.32 Per Common Share and Special Dividend of $0.05 per Common Share
NEW YORK, Aug. 04, 2020 (GLOBE NEWSWIRE) -- TCG BDC, Inc. (together with its consolidated subsidiaries, “we,” “us,” “our,” “TCG BDC” or the “Company”)
About this update from Carlyle Secured Lending, Inc.
[{"type":"text","content":"NEW YORK, Aug. 04, 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 second quarter ended June 30, 2020.\n Linda Pace, TCG BDC’s Chief Executive Officer said, \"Our portfolio is performing well and driving solid income generation for shareholders despite substantial economic uncertainty. Actions we have undertaken over the past quarter have fortified our balance sheet and provided significant capital flexibility to support our borrowers. TCG BDC is well positioned to deliver attractive returns for all of our stakeholders.” Selected Financial Highlights (dollar amounts in thousands, except per share data)June 30, 2020 March 31, 2020Total investments, at fair value$1,907,555 $2,024,277 Total assets1,958,634 2,126,826 Total debt1,035,799 1,262,960 Total net assets$883,304 $798,534 Net assets per common share$14.80 $14.18 For the three month periods ended June 30, 2020 March 31, 2020Total investment income$45,275 $50,545 Net investment income (loss)21,692 23,972 Net realized gain (loss) and net change in unrealized appreciation (depreciation) on investments and non-investment assets and liabilities34,466 (145,072)Net increase (decrease) in net assets resulting from operations$56,158 $(121,100) Per weighted-average common share—Basic: Net investment income (loss), net of preferred dividend$0.38 $0.42 Net realized gain (loss) and net change in unrealized appreciation (depreciation) on investments and non-investment assets and liabilities0.61 (2.57)Net increase (decrease) in net assets resulting from operations attributable to common stockholders$0.99 $(2.15)Weighted-average shares of common stock outstanding—Basic56,308,616 57,112,193 Regular dividends declared per common share$0.37 $0.37 Second Quarter 2020 Highlights(dollar amounts in thousands, except per share data) Net investment income for the three month period ended June 30, 2020 was $21,692, or $0.39 per share, ($21,138, or $0.38 per common share, net of the preferred dividend) as compared to $23,972, or $0.42 per share, for the three month period ended March 31, 2020;Net realized gain (loss) and net change in unrealized appreciation (depreciation) on investments and non-investment assets and liabilities for the three month period ende...