Goldman Sachs Bdc, Inc. · NYSE:GSBD
Goldman Sachs Bdc — Q2 2020 Earnings Presentation
13 slides from Goldman Sachs Bdc's earnings presentation, Aug 11, 2020
Slide 1: Goldman Sachs BDC, Inc. Investor Presentation
Goldman Sachs BDC, Inc. Investor Presentation Quarter Ended June 30, 2020 www.goldmansachsbdc.com
Slide 2: Disclaimer and Forward-Looking Statement
Disclaimer and Forward-Looking Statement The information contained in this presentation should be viewed in conjunction with the earnings conference call of Goldman Sachs BDC, Inc. (“GSBD” or the “Company”) (NYSE: GSBD) held on August 11, 2020 and the Company’s Quarterly Report on Form 10-Q for the
Slide 3: Quarterly Highlights
Quarterly Highlights Quarter Ended June 30, 2020 Net investment income for the quarter ended June 30, 2020 was $0.45 per share, equating to an annualized net investment income yield on book value of 11.9%; The Company announced a third quarter dividend of $0.45 per share payable to shareholders
Slide 4: Selected Financial Highlights
Selected Financial Highlights Quarter Ended June 30, 2020 (in $ millions, except per share data) Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Investment portfolio, at fair value1 $1,533.7 $1,430.2 $1,454.3 $1,422.7 $1,424.5 Total debt oustanding2 $847.3 $731.8 $773.4 $917.8 $918.5 Net assets $693.4 $684.
Slide 5: Investment Activity
Investment Activity Quarter Ended June 30, 2020 New investment commitments and net fundings of previously unfunded commitments for the quarter were $0.5 million and $(0.6) million, respectively. - New investment commitments were across one new portfolio company and one existing portfolio company.
Slide 6: Portfolio Asset Composition
Portfolio Asset Composition Quarter Ended June 30, 2020 New Investment Commitments (at cost, $mm) End of Period Investments (at fair value, $mm) $1,533.7 4% $1,430.2 $1,454.3 4% 3% $1,422.74% $1,424.5 3% 3% 4% 4% 3% 4% 19% <1% <1% <1% 18% <1% 16% 14% <1% 14% $172.5 7% 2% 2% 2% 1% $159.8 3% - $117.3
Slide 7: Credit Quality of Investments
Credit Quality of Investments Quarter Ended June 30, 2020 Non-Accrual Investments • As of June 30, 2020, investments on non-accrual status represented 0.1% and 0.9% of the total investment portfolio at fair value and amortized cost, respectively. (in $ millions) Q4 2019 Q1 2020 Q2 2020 Rating Fair V
Slide 8: Portfolio Summary
Portfolio Summary Quarter Ended June 30, 2020 Portfolio Characteristics (as of June 30, 2020) Invested Portfolio Total investments and commitments ($mm) $1,485.3 Unfunded commitments ($mm) $60.8 Investments at fair value ($mm) $1,424.5 Yield at fair value of investments (%)1 9.5% Yield at amortized
Slide 9: Quarterly Operating Results
Quarterly Operating Results Quarter Ended June 30, 2020 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Investment income Interest1 $36,467 $36,281 $34,916 $31,715 $30,278 Dividend income 1,053 58 35 5 38 Other income 881 517 516 252 286 Total investment income $38,401 $36,856 $35,467 $31,972 $30,602 Expens
Slide 10: Quarterly Balance Sheet
Quarterly Balance Sheet Quarter Ended June 30, 2020 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Assets Investments at fair value $1,533,710 $1,430,155 $1,454,252 $1,422,747 $1,424,467 Investments in affiliated money market fund - - - 64,306 89,470 Cash 10,122 11,102 9,409 22,047 16,318 Unrealized apprec
Slide 11: Net Asset Value Bridge
Net Asset Value Bridge Quarter Ended June 30, 2020 Per Share Data 0.45 0.42 $15.14 $14.72 (0.45) Q1' 20 Ending Book NAV Q2' 20 Net Investment Q2' 20 Distribution Net Change in Realized and Q2' 20 Ending Book NAV Income Unrealized Appreciation (Depreciation) March 31, 2020 NAV is based on March 31, 2
Slide 12: Debt
Debt Quarter Ended June 30, 2020 Commitment Debt Amount ($mm) Outstanding ($mm)1 Interest Rate Maturity Date Goldman Sachs BDC, Inc. Revolving Credit Facility $795 $404 LIBOR + 187.5 bps / 175 bps2 02/25/2025 2025 Notes $360 $360 3.75% 02/10/2025 Convertible Notes $155 $155 4.50% 04/01/2022 Total $1
Slide 13: Distribution and Common Stock Information
Distribution and Common Stock Information Quarter Ended June 30, 2020 Distribution Data Date Declared Record Date Payment Date Regular Distribution Per Share Special Distribution Per Share August 4, 2020 September 30, 2020 October 15, 2020 $0.45 May 5, 2020 June 30, 2020 July 15, 2020 $0.45 - Februa