Goldman Sachs BDC, Inc. (“GS BDC” or the “Company”) (NYSE:GSBD) today announced its financial results for the second quarter ended June 30, 2017 and filed its Form 10-Q with the U.S. Securities and Exchange Commission.
Net investment income for the quarter ended June 30, 2017 was $0.64 per share, as compared to $0.49 per share for the quarter ended March 31, 2017;
The Company announced a third quarter dividend of $0.45 per share payable to shareholders of record as of September 29, 2017, equating to an annualized dividend yield of 9.9% on quarter end net asset value per share;1
Net asset value per share for the quarter ended June 30, 2017 was stable at $18.23, as compared to $18.26 for the quarter ended March 31, 2017;
New investment commitments and fundings were $124.0 million and $120.3 million, respectively, while sales and repayments totaled $160.4 million; the yield on new investment commitments was 10.1%, while the yield on investments repaid was 9.1%;2,3
The Senior Credit Fund (“SCF”) produced a 14.2% return on investment to the Company; the Company’s investment in the SCF grew by approximately 4% during the quarter and continues to represent the Company’s largest investment at 8.5% of total investments at fair value;2,3,4
Investments on non-accrual represented 0.2% and 0.7% of the total investments at fair value and amortized cost, respectively;2
In May, the Company completed an offering of 3,737,500 shares of common stock at a public offering price of $22.50 per share. Total net proceeds were $80.3 million
During the three months ended June 30, 2017, new investment commitments and fundings were $124.0 million and $120.3 million, respectively, which includes net fundings of $2.1 million of previously unfunded commitments. The new investment commitments were across six new portfolio companies and three existing portfolio companies. The Company had sales and repayments of $160.4 million, primarily resulting from the full repayment of investments in three portfolio companies. During the quarter, the weighted average yield on new debt investment commitments and the Company’s additional investment in the SCF was 10.1%, while the weighted average yield on debt investments sold or repaid was 9.1%.
