Carlyle Secured Lending, Inc. Announces Third Quarter 2023 Financial Results, Declares Fourth Quarter 2023 Dividends of $0.44 Per Common Share

Rhea-AI Summary

Carlyle Secured Lending, Inc. (NASDAQ: CGBD) announces Q3 2023 financial results, reporting $0.52 net investment income per common share and a 0.8% increase in net asset value per share. The company declared a base quarterly common dividend of $0.37 plus a supplemental common dividend of $0.07 payable on January 18, 2024. CSL will host a conference call on November 8, 2023 to discuss the results.

Positive

• CSL reported solid income generation and an increase in NAV despite market volatility, showcasing disciplined credit underwriting and portfolio management. The company's conservative approach to risk management and well-diversified portfolio are highlighted as strengths. The declaration of dividends and the upcoming conference call demonstrate transparency and commitment to shareholder communication.

Negative

• None.

NEW YORK, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Carlyle Secured Lending, Inc. (together with its consolidated subsidiaries, “we,” “us,” “our,” “CSL” or the “Company”) (NASDAQ: CGBD) today announced its financial results for its third quarter ended September 30, 2023. The full detailed presentation of CSL’s third quarter 2023 results can be viewed here.

Aren LeeKong, CSL’s Chief Executive Officer said, “In the face of broader market volatility, we are pleased to see our disciplined and intentional approach to credit underwriting and portfolio management produce another quarter of solid income generation accompanied by an increase in NAV. While market demand for private credit remains high, we have not wavered in our focus on differentiated direct lending opportunities, sourced using the breadth and scope of the OneCarlyle platform. Equally as important, we have maintained our conservative approach to risk management, continuing to run a well-diversified portfolio at the low-end of our target leverage range.”

Net investment income for the third quarter of 2023 was $0.52 per common share, and net asset value per common share increased by 0.8% for the third quarter to $16.86 from $16.73 as of June 30, 2023. The total fair value of our investments was $1.9 billion as of September 30, 2023.

Dividends

On November 2, 2023, the Board of Directors declared a base quarterly common dividend of $0.37 plus a supplemental common dividend of $0.07, which are payable on January 18, 2024 to common stockholders of record on December 29, 2023.

On September 19, 2023, the Company declared and paid a cash dividend on the Preferred Stock for the period from July 1, 2023 to September 30, 2023 in the amount of $0.438 per Preferred Share to the holder of record on September 29, 2023.

Conference Call

The Company will host a conference call at 10:00 a.m. ET on Wednesday, November 8, 2023 to discuss these quarterly financial results. The conference call will be available via public webcast via a link on Carlyle Secured Lending’s website and will also be available on our website soon after the call’s completion.

Carlyle Secured Lending, Inc.

CSL is an externally managed specialty finance company focused on lending to middle-market companies. CSL is managed by Carlyle Global Credit Investment Management L.L.C., an SEC-registered investment adviser and a wholly owned subsidiary of The Carlyle Group Inc. Since it commenced investment operations in May 2013 through September 30, 2023, CSL has invested approximately $8.0 billion in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments. CSL’s investment objective is to generate current income and capital appreciation primarily through debt investments in U.S. middle market companies. CSL has elected to be regulated as a business development company under the Investment Company Act of 1940, as amended.

Web: carlylesecuredlending.com

About Carlyle   

Carlyle (“Carlyle,” or the “Adviser”) (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $382 billion of assets under management as of September 30, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may,” “plans,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions to identify forward-looking statements, although not all forward-looking statements include these words. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which we make it. Factors or events that could cause our actual results to differ, possibly materially from our expectations, include, but are not limited to, the risks, uncertainties and other factors we identify in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in filings we make with the Securities and Exchange Commission, and it is not possible for us to predict or identify all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:
Investors:	Media:
Daniel Hahn	Kristen Greco Ashton
+1 (212) 813-4900 publicinvestor@carlylesecuredlending.com	+1 (212) 813-4763 kristen.ashton@carlyle.com

FAQ

What are Carlyle Secured Lending, Inc.'s Q3 2023 financial results?

Carlyle Secured Lending, Inc. (NASDAQ: CGBD) reported $0.52 net investment income per common share and a 0.8% increase in net asset value per share for the third quarter of 2023.

When will the declared dividends be payable?

The base quarterly common dividend of $0.37 plus a supplemental common dividend of $0.07 declared by CSL is payable on January 18, 2024.

What is the purpose of the upcoming conference call on November 8, 2023?

The conference call is scheduled to discuss Carlyle Secured Lending, Inc.'s quarterly financial results.

What is Carlyle Secured Lending, Inc.'s investment objective?

CSL's investment objective is to generate current income and capital appreciation primarily through debt investments in U.S. middle market companies.