Slide 1: Quarterly Earnings Presentation
Quarterly Earnings Presentation Quarter Ended September 30, 2017
Slide 2: Disclaimer and Forward-Looking Statement
Disclaimer and Forward-Looking Statement This presentation (the “Presentation”) has been prepared by TCG BDC, Inc. (together with its consolidated subsidiaries, “we,” “us,” “our,” “TCG BDC” or the “Company”) (NASDAQ: CGBD) and may only be used for informational purposes only. This Presentation shoul
Slide 3: Summary of Quarterly Results
Summary of Quarterly Results Quarter Ended September 30, 2017 • New investment fundings1 for the quarter ended September 30, 2017 were $317 million and sales and repayments totaled $68 million • The investment portfolio of our joint venture, Middle Market Credit Fund, LLC (“Credit Fund”), has grown
Slide 4: Portfolio Highlights – New Originations
Portfolio Highlights – New Originations Originations & Net Funds Growth (Dollar amounts in thousands and based on par/principal) Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Originations and Net Investment Activity Investment Fundings 313,374 174,739 154,441 614,154 316,595 Unfunded Commitments, Net Chan
Slide 5: Investment Portfolio Overview
Investment Portfolio Overview Total Fair Value of Investments at September 30, 2017 of $1,964 million Fair Value of Investments $2,500 $1,964 $2,000 $1,719 $1,500 $1,423 $1,383 $1,393 ($, millions) $1,201 $1,145 $1,053 $976 $1,000 $913 $789 $699 $504 $500 $419 $318 $0 Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1
Slide 6: Investment Portfolio Overview – TCG BDC and Credit Fund
Investment Portfolio Overview – TCG BDC and Credit Fund Total Fair Value of Investments of TCG BDC and Credit Fund at September 30, 2017 of $2,599 million1 Fair Value of Investments1 $3,000 $2,599 $2,334 $2,500 $2,000 $1,817 $1,761 $1,618 ($, millions) $1,500 $1,331 $1,145 $1,053 $1,000 $913 $976 $7
Slide 7: Portfolio Summary – TCG BDC and Credit Fund
Portfolio Summary – TCG BDC and Credit Fund As of September 30, 2017 Portfolio Characteristics Diversification by Borrower TCG BDC Credit Fund 81 Investments Total Investments and Commitments ($mm) $2,096 $888 46% Unfunded Commitments ($mm) $132 $65 36% Investments at Fair Value ($mm) $1,964 $823 Cr
Slide 8: Credit Quality of Investments
Credit Quality of Investments • Fundamental credit quality at September 30, 2017 remains strong with 1 borrower on non-accrual status, representing less than 2% of total debt investments at fair value and amortized cost • Approximately 98% of investments in our debt investment portfolio continue to
Slide 9: Financial Performance Summary
Financial Performance Summary (Dollar amounts in thousands, except per share data) Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Net Investment Income Per Share 0.42 0.45 0.46 0.47 0.41 Net Realized & Unrealized Appreciation (Depreciation) Per Share 0.36 (0.02) (0.07) (0.13) 0.00 Net Income Per Share 0.78
Slide 10: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition (Dollar amounts in thousands, except per share data) Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Assets Investments at Fair Value (Non-Controlled/Non-Affiliated) 1,324,856 1,323,102 1,249,566 1,520,997 1,760,611 Investments at Fair Value (Non-Controlled/Affili
Slide 11: Quarterly Operating Results
Quarterly Operating Results (Dollar amounts in thousands) Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Interest Income 26,362 28,645 28,354 30,526 34,740 Payment-In-Kind Interest Income — — — — 778 Income From Credit Fund 686 2,454 3,209 4,172 5,812 Other Income 1,909 2,057 2,536 4,046 1,318 Total Invest
Slide 12: Net Asset Value Per Share Bridge
Net Asset Value Per Share Bridge Quarter Ended September 30, 2017 0.41 (0.37) 0.00 18.14 18.18 June 30, 2017 Net Investment Income Dividend Net Change in Realized and September 30, 2017 NAV Declared Unrealized Appreciation NAV (Depreciation) Note: The net asset value per share and dividends declared
Slide 13: Senior Secured Credit Facilities & Unfunded Commitments
Senior Secured Credit Facilities & Unfunded Commitments Terms & Conditions Credit Facility1 Debt on Company’s Balance Sheet as of September 30, 2017 Size $383.0 million committed $1,200 $1,056 Tenor 5 years (4 year revolving); maturity date 3/21/2022 $1,000 Pricing LIBOR + 225 bps / 37.5 bps unused
Slide 14: Liquidity and Investment Capacity
Liquidity and Investment Capacity • Cash and Cash Equivalents – Cash and cash equivalents totaled $35.1 million as of September 30, 2017 • Credit Facilities - Availability – Credit Facility – in September 2017, the aggregate amount of the commitments under the Credit Facility were increased by $100.
Slide 15: Common Stock and Dividend Information
Common Stock and Dividend Information Common Stock Data Quarter Ended High Low End of Period September 30, 2017 $18.89 $18.00 $18.82 June 30, 2017 $18.49 $18.01 $18.01 • On November 7, 2017, our Board of Directors declared a quarterly dividend of $0.37 per share, which is payable on January 17, 2018