Slide 1: Quarterly Earnings Presentation
Quarterly Earnings Presentation Quarter Ended June 30, 2018
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, 2018 • New investment fundings1 for the quarter ended June 30, 2018 were $284 million and sales and repayments totaled $233 million • The investment portfolio of our joint venture, Middle Market Credit Fund, LLC (“Credit Fund”), increased to $1.14
Slide 4: Portfolio Highlights – New Originations and Credit Fund
Portfolio Highlights – New Originations – TCG BDC and Credit Fund Combined Fair Value of Investments of TCG BDC and Credit Fund2 at June 30, 2018 of $2,875 million1 (Dollar amounts in thousands and based on par/principal) Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 TCG BDC Originations and Net Investmen
Slide 5: Investment Portfolio Overview
Investment Portfolio Overview – TCG BDC Total Fair Value of Investments of TCG BDC at June 30, 2018 of $1,947 million Fair Value of Investments1 $2,500 $1,964 $1,968 $2,000 $1,913 $1,947 $1,719 $1,500 $1,383 $1,423 $1,393 ($, millions) $1,201 $1,145 $1,053 $976 $1,000 $913 $789 $699 $504 $500 $419 $
Slide 6: Investment Portfolio Overview and Credit Fund
Investment Portfolio Overview – TCG BDC and Credit Fund Combined Fair Value of Investments of TCG BDC and Credit Fund at June 30, 2018 of $2,875 million1 Fair Value of Investments1 $3,500 $2,875 $2,780 $2,802 $3,000 $2,599 $2,334 $2,500 $1,817 ($, millions) $2,000 $1,761 $1,618 $1,500 $1,331 $1,145
Slide 7: Portfolio Summary and Credit Fund
Portfolio Summary – TCG BDC and Credit Fund As of June 30, 2018 Portfolio Characteristics TCG BDC Credit Fund Total Investments and Commitments ($mm) $2,112 $1,260 Unfunded Commitments ($mm) $165 $124 Investments at Fair Value ($mm) $1,947 $1,136 Yield of Debt Investments1 (%) 9.16% 7.12% Yield of T
Slide 8: Credit Quality of Investments
Credit Quality of Investments – TCG BDC • Fundamental credit quality at June 30, 2018 remains strong with 3 borrowers on non-accrual status, representing less than 1.7% of total debt investments at fair value and 3.2% at amortized cost • Approximately 97% of investments in our debt investment portfo
Slide 9: Financial Performance Summary
Financial Performance Summary – TCG BDC (Dollar amounts in thousands, except per share data) Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Net Investment Income Per Share 0.47 0.41 0.43 0.40 0.45 Net Realized & Unrealized Appreciation (Depreciation) Per Share (0.13) 0.00 0.01 (0.06) (0.24) Net Income Per
Slide 10: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition – TCG BDC (Dollar amounts in thousands, except per share data) Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Assets Investments at Fair Value (Non-Controlled/Non-Affiliated) 1,520,997 1,760,611 1,779,584 1,695,287 1,722,393 Investments at Fair Value (Non-Control
Slide 11: Quarterly Operating Results
Quarterly Operating Results – TCG BDC (Dollar amounts in thousands) Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Interest Income 30,526 34,740 40,345 39,494 41,948 Payment-In-Kind Interest Income — 778 279 213 216 Income From Credit Fund 4,172 5,812 6,260 6,881 6,698 Other Income 4,046 1,318 2,626 895 3,
Slide 12: Net Asset Value Per Share Bridge
Net Asset Value Per Share Bridge – TCG BDC Quarter Ended June 30, 2018 ($) 19.00 0.45 18.00 (0.37) (0.24) 17.00 Axis Title 16.00 18.09 17.93 15.00 14.00 13.00 March 31, 2018 NAV Net Investment Income Total Dividend Declared Net Change in Realized and June 30, 2018 NAV Unrealized Appreciation (Deprec
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, 2018 Size $413.0 million committed Tenor 5 years (4 year revolving); maturity date 3/21/2022 $1,200 $1,086 Pricing LIBOR + 225 bps / 37.5 bps unused fee $1,000 S
Slide 14: Liquidity and Investment Capacity
Liquidity and Investment Capacity – TCG BDC • Cash and Cash Equivalents – Cash and cash equivalents totaled $27.9 million as of June 30, 2018 • Credit Facilities - Availability – Credit Facility – As of June 30, 2018, subject to leverage and borrowing base restrictions, we had approximately $83.5 mi
Slide 15: Common Stock and Dividend Information
Common Stock and Dividend Information – TCG BDC Common Stock Data (NASDAQ: CGBD) Quarter Ended High Low End of Period June 30, 2018 $18.34 $17.02 $17.02 March 31, 2018 $18.62 $17.03 $17.90 December 31, 2017 $20.04 $17.04 $20.04 September 30, 2017 $18.89 $18.00 $18.82 June 30, 2017 (beginning June 14