Golub Capital Bdc, Inc. · NASDAQ:GBDC
Golub Capital Bdc — Q4 2010 Earnings Presentation
11 slides from Golub Capital Bdc's earnings presentation, Sep 30, 2010
Slide 1: Golub Capital BDC Inc. 9/30/2010 Investor Presentation
Golub Capital BDC Inc. 9/30/2010 Investor Presentation Quarter and Fiscal Year Ended: September 30, 2010
Slide 2: Important Notice
Important Notice This presentation contains “forward looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to risks and uncertainties. Actual o tcomes and results outcomes res lts co could ld differ materiall materially from those
Slide 3: Financial and Portfolio Highlights
Financial and Portfolio Highlights Financial Highlights (1) (1) Q4 2010 Q3 2010 Earnings per share $ 0.35 $ 0.29 Net investment income per share 0.25 0.30 Net unrealized gains (losses) per share 0.11 (0.01) Net asset value per share 14.71 14.67 Dividend paid per share 0.31 0.24 Portfolio Highlights
Slide 4: Quarterly Operating Results Detail
Quarterly Operating Results Detail Three months ended (Dollar amounts in thousands, except share and per share data) September 30, 2010 June 30, 2010 March 30, 2010 (unaudited) Investment income Interest $ 7 431 7,431 $ 7 230 7,230 $ 7 645 7,645 Total investment income 7,431 7,230 7,645 Expenses Int
Slide 5: Quarterly Balance Sheets
Quarterly Balance Sheets As of (Dollar amounts in thousands, except per share data) September 30, 2010 June 30, 2010 March 31, 2010 (audited) (unaudited) Assets Investments in securities, at fair value (cost of $345,536, $280,214 and $295,730, respectively) $ 344,869 $ 277,610 $ 293,226 Cash and cas
Slide 6: New Investment Commitments and Asset Mix as of September 30, 2010
New Investment Commitments and Asset Mix as of September 30, 2010 New Investment Commitments End of Period Funds at Fair Value 400,000 90,000 $83,708 $344,869 350,000 1% 80,000 3% 11% 3% $293,226 300 000 300,000 4% $277,610 $277 610 70,000 1% 5% 26% 60,000 27% 250,000 5% 27% 28% 50,000 200,000 40,00
Slide 7: Investment Spread Analysis
Investment Spread Analysis 14.0% 12.0% 11.8% 10.3% 10.0% 10.0% 9.8% 8.4% 7.8% 8 0% 8.0% 8 1% 8.1% 7.7% 6.0% 4.0% 3.0% 1.6% 2.0% 0.9% 1.5% 0.24% 0.33% 0.23% 0.29% 0.0% (1) (1) (1) Q1 2010 (1) Q2 2010 Q3 2010 Q4 2010 (2) (3) (4) Total Yield on Investments Interest Income Yield Debt 3-month LIBOR (1) T
Slide 8: Selected Investment Portfolio Information
Selected Investment Portfolio Information (Dollar amounts in thousands) Q4 2010(1) Q3 2010(1) Q2 2010(1) Fair Value of Investments - Beginning of Period $ 277,610 $ 293,226 $ 326,226 Full Payoffs (4,460) (25,682) (22,892) P ti l P Partial Payoffs ff (7 839) (7,839) (8 944) (8,944) (9 897) (9,897) Ne
Slide 9: Portfolio Composition by Investment Rating and Industry
Portfolio Composition p byy Investment Ratingg and Industry y Portfolio Ratings by Fair Value Portfolio Composition by Over Time Industryy Home/Office September 30, 2010 June 30, 2010 March 31, 2010 Furnishings, Beverage, Housewares & Food and Investment Investments % of Investments % of Investments
Slide 10: Common Stock and Dividend Information
Common Stock and Dividend Information C Common St Stock kDData t (1) Fiscal year ended September 30, 2010 High Low End of Period Third quarter (from April 14, 2010) $14.85 $12.85 $14.42 Fourth quarter $15.30 $13.83 $15.30 Dividend Data Amount Total Date Declared Record Date Payment Date Per Share Am
Slide 11: Liquidity and Investment Capacity
Liquidity and Investment Capacity ▪ Cash and cash equivalents q total $93.0 million as of September p 30, 2010 ▪ Received licensing approval from SBA ▫ Long term funding - 10-year SBA non-recourse debentures ▫ Attractive pricing ▫ Diversifies funding sources ▫ On October 8th, 2010, 2010 we received