Slide 1: Quarterly Earnings Presentation
Quarterly Earnings Presentation Quarter Ended June 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 June 30, 2017 • New investment fundings1 for the quarter ended June 30, 2017 were $417 million (excluding the NFIC Acquisition),2 and sales and repayments totaled $281 million. The NFIC Acquisition increased the Company’s assets by an additional $197 millio
Slide 4: Portfolio Highlights – New Originations
Portfolio Highlights – New Originations Originations & Net Funds Growth (Dollar amounts in thousands and based on par/principal) Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Originations and Net Investment Activity Investment Fundings 143,435 313,374 174,739 154,441 614,154 Unfunded Commitments, Net Chan
Slide 5: Investment Portfolio Overview
Investment Portfolio Overview Total Fair Value of Investments at June 30, 2017 of $1,719 million Fair Value of Investments $2,000 $1,800 $1,719 $1,600 $1,383 $1,423 $1,393 $1,400 $1,201 $1,200 $1,145 $1,053 ($, millions) $976 $1,000 $913 $789 $800 $699 $600 $504 $419 $400 $318 $200 $0 Q1 '14 Q2 '14
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 June 30, 2017 of $2,334 million1 Fair Value of Investments1 $3,000 $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 $789 $699 $419
Slide 7: Portfolio Summary – TCG BDC and Credit Fund
Portfolio Summary – TCG BDC and Credit Fund As of June 30, 2017 Portfolio Characteristics Diversification by Borrower TCG BDC Credit Fund 74 Investments Total Investments and Commitments ($mm) $1,827 $848 45% Unfunded Commitments ($mm) $108 $48 37% Investments at Fair Value ($mm) $1,719 $800 Credit
Slide 8: Credit Quality of Investments
Credit Quality of Investments • Fundamental credit quality at June 30, 2017 remains strong with 1 borrower on non-accrual status, representing less than 1% of total debt investments at fair value and amortized cost • Approximately 99% of investments in our portfolio continue to have an Internal Risk
Slide 9: Financial Performance Summary
Financial Performance Summary (Dollar amounts in thousands, except per share data) Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Net Investment Income Per Share 0.39 0.42 0.45 0.46 0.47 Net Realized & Unrealized Appreciation (Depreciation) Per Share 0.36 0.36 (0.02) (0.07) (0.13) Net Income Per Share 0.75
Slide 10: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition (Dollar amounts in thousands, except per share data) Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Assets Investments at Fair Value (Non-controlled/Non-affiliated) 1,186,520 1,324,856 1,323,102 1,258,424 1,534,162 Investments at Fair Value (Controlled/Affiliated
Slide 11: Quarterly Operating Results
Quarterly Operating Results (Dollar amounts in thousands) Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Interest Income 24,078 26,362 28,645 28,354 30,526 Income From Credit Fund -- 686 2,454 3,209 4,172 Other Income 1,670 1,909 2,057 2,536 4,046 Investment Income 25,748 28,957 33,156 34,099 38,744 Manage
Slide 12: Net Asset Value Per Share Bridge
Net Asset Value Per Share Bridge Quarter Ended June 30, 2017 0.47 (0.37) (0.13) (0.13) 18.30 18.17 18.14 March 31, 2017 Effect of Offering Adjusted Net Investment Dividend Net Change in June 30, 2017 NAV Price (1) NAV Income Declared Realized and NAV Unrealized Appreciation (Depreciation) Note: The
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 June 30, 2017 Size $283.0 million committed $1,200 Tenor 5 years (4 year revolving); maturity date 3/21/2022 $956 $1,000 Pricing LIBOR + 225 bps / 37.5 bps unused fee $80
Slide 14: Liquidity and Investment Capacity
Liquidity and Investment Capacity • Cash and Cash Equivalents – Cash and cash equivalents totaled $28.2 million as of June 30, 2017 • Credit Facilities - Availability – Credit Facility – as of June 30, 2017, subject to leverage and borrowing base restrictions, we had approximately $210.0 million of
Slide 15: Common Stock and Dividend Information
Common Stock and Dividend Information Common Stock Data Quarter Ended High Low End of Period June 30, 2017 $18.49 $18.01 $18.01 • On August 7, 2017, our Board of Directors declared a quarterly dividend of $0.37 per share, which is payable on October 18, 2017 to stockholders of record as of September