Golub Capital Bdc, Inc. · NASDAQ:GBDC
Golub Capital Bdc — Q1 2011 Earnings Presentation
11 slides from Golub Capital Bdc's earnings presentation, Feb 10, 2011
Slide 1: Golub Capital BDC, Inc. First Quarter 2011 Investor Presentation
Golub Capital BDC, Inc. First Quarter 2011 Investor Presentation
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 outcomes and results could differ materially from those suggested by this presentation d
Slide 3: Financial and Portfolio Highlights
Financial and Portfolio Highlights Financial Highlights Q1 2011 (1) Q4 2010 (1) Q3 2010 (1) Earnings per share $ 0.34 $ 0.35 $ 0.29 Net investment income per share 0.30 0.25 0.30 Net gain (loss) per share 0.04 0.10 (0.01) Net asset value per share 14.74 14.71 14.67 Dividend paid per share 0.31 0.31
Slide 4: Quarterly Operating Results Detail
Quarterly Operating Results Detail Three months ended (Dollar amounts in thousands, except share and per share data) December 31, 2010 September 30, 2010 June 30, 2010 (unaudited) Investment income Interest $ 9,137 $ 7,431 $ 7,230 Total investment income 9,137 7,431 7,230 Expenses Interest and other
Slide 5: Quarterly Balance Sheets
Quarterly Balance Sheets As of (Dollar amounts in thousands, except per share data) December 31, 2010 September 30, 2010 June 30, 2010 (unaudited) (audited) (unaudited) Assets Investments in securities, at fair value (cost of $345,536, $280,214 and $295,730, respectively) $ 382,414 $ 344,869 $ 277,6
Slide 6: New Investment Commitments and Asset Mix
New Investment Commitments and Asset Mix as of December 31, 2010 New Investment Commitments End of Period Funds at Fair Value 2% 6% 1% 7% 3% 4% 1% 5%
Slide 7: Investment Spread Analysis
Investment Spread Analysis 12.0% 10.3% 10.6% 10.0% 10.0% 9.8% 8.5% 8.7% 8.1% 8.0% 7.7% 8.1% 7.8% 7.1% 6.8% 6.0% 4.0% 3.0% 3.5% 2.0% 1.5% 1.6% 0.33% 0.29% 0.24% 0.30% 0.0% Q2 2010 (1) Q3 2010 (1) Q4 2010 (1) Q1 2011 (1) Total Yield on Investments (2) Interest Income Yield(3) Debt (4) 3-month LIBOR Wt
Slide 8: Selected Investment Portfolio Information
Selected Investment Portfolio Information (Dollar amounts in thousands) Q1 2011 (1) Q4 2010 (1) Q3 2010 (1) Fair Value of Investments - Beginning of Period $ 344,869 $ 277,610 $ 293,226 Payoffs (51,398) (12,299) (34,626) New Investment Fundings (2)(3) 97,578 77,391 16,314 Sales of Portfolio Companie
Slide 9: Portfolio Composition by Investment Rating and Industry
Portfolio Composition by Investment Rating and Industry Portfolio Ratings by Fair Value Over Portfolio Composition by Time Industry December 31, 2010 September 30, 2010 June 30, 2010 Investment Investments % of Investments % of Investments % of Performance at Fair Value Total at Fair Value Total at
Slide 10: Common Stock and Dividend Information
Common Stock and Dividend Information Common Stock Data 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 Fiscal year ended September 30, 2011 First quarter $ 17.95 $ 15.44 $ 17.12 Dividend D
Slide 11: Liquidity and Investment Capacity
Liquidity and Investment Capacity aCash and cash equivalents totaled $41.4 million as of December 31, 2010. aRestricted cash and cash equivalents totaled $27.6 million as of December 31, 2010. Restricted cash is available for investment for deals that qualify for our securitization vehicle. aLiquid