Golub Capital BDC, Inc. Announces Fiscal Year 2025 First Quarter Financial Results
Golub Capital BDC (GBDC) reported financial results for Q1 FY2025 ended December 31, 2024. Key highlights include:
- Net investment income was $0.37 per share, compared to $0.45 in the previous quarter
- Adjusted net investment income was $0.39 per share
- Net asset value decreased to $15.13 per share from $15.19
- Total investment portfolio fair value reached $8.69 billion across 386 portfolio companies
- Declared quarterly distribution of $0.39 per share, payable March 28, 2025
Notable transactions include completing a $2.2 billion term debt securitization in November 2024, and increasing revolving credit facility commitments to $2.0 billion from $1.8 billion. The company's GAAP leverage ratio increased to 1.24x as of December 31, 2024.
Golub Capital BDC (GBDC) ha riportato i risultati finanziari per il primo trimestre dell'anno fiscale 2025 terminato il 31 dicembre 2024. I principali punti salienti includono:
- Il reddito netto da investimenti è stato di $0.37 per azione, rispetto a $0.45 nel trimestre precedente
- Il reddito netto da investimenti rettificato è stato di $0.39 per azione
- Il valore netto degli attivi è diminuito a $15.13 per azione da $15.19
- Il valore equo totale del portafoglio investimenti ha raggiunto $8.69 miliardi su 386 aziende in portafoglio
- Dichiarata una distribuzione trimestrale di $0.39 per azione, pagabile il 28 marzo 2025
Le transazioni notevoli includono il completamento di una cartolarizzazione del debito a lungo termine di $2.2 miliardi a novembre 2024 e l'aumento degli impegni della linea di credito revolving a $2.0 miliardi da $1.8 miliardi. Il rapporto di leva finanziaria GAAP della società è aumentato a 1.24x al 31 dicembre 2024.
Golub Capital BDC (GBDC) reportó resultados financieros para el primer trimestre del año fiscal 2025 que finalizó el 31 de diciembre de 2024. Los aspectos más destacados incluyen:
- Los ingresos netos por inversiones fueron de $0.37 por acción, en comparación con $0.45 en el trimestre anterior
- Los ingresos netos por inversiones ajustados fueron de $0.39 por acción
- El valor neto de los activos disminuyó a $15.13 por acción de $15.19
- El valor total del portafolio de inversiones alcanzó los $8.69 mil millones en 386 compañías en el portafolio
- Se declaró una distribución trimestral de $0.39 por acción, pagadera el 28 de marzo de 2025
Las transacciones notables incluyen la finalización de una titulización de deuda por $2.2 mil millones en noviembre de 2024 y el aumento de compromisos de línea de crédito revolving a $2.0 mil millones desde $1.8 mil millones. El ratio de apalancamiento GAAP de la compañía aumentó a 1.24x al 31 de diciembre de 2024.
골럽 캐피탈 BDC (GBDC)는 2024년 12월 31일에 종료된 2025 회계연도 1분기 재무 결과를 보고했습니다. 주요 하이라이트는 다음과 같습니다:
- 주당 순 투자 수익은 $0.37로 전 분기 $0.45에 비해 감소했습니다
- 조정된 순 투자 수익은 주당 $0.39였습니다
- 순 자산 가치는 $15.19에서 $15.13로 감소했습니다
- 386개 포트폴리오 회사에서 총 투자 포트폴리오 공정 가치는 $8.69억 달러에 도달했습니다
- 주당 $0.39의 분기 분배금이 선언되었으며, 2025년 3월 28일에 지급될 예정입니다
주요 거래에는 2024년 11월에 진행된 $2.2억 달러의 장기 채무 증권화 완료 및 만기 자산 대출 한도를 $1.8억 달러에서 $2.0억 달러로 증가한 것이 포함됩니다. 회사의 GAAP 레버리지 비율은 2024년 12월 31일 기준으로 1.24x 증가했습니다.
Golub Capital BDC (GBDC) a publié ses résultats financiers pour le premier trimestre de l'exercice 2025 qui s'est terminé le 31 décembre 2024. Les points saillants comprennent :
- Le revenu net d'investissement était de 0,37 $ par action, contre 0,45 $ au trimestre précédent
- Le revenu net d'investissement ajusté était de 0,39 $ par action
- La valeur nette des actifs a diminué à 15,13 $ par action contre 15,19 $
- La valeur totale du portefeuille d'investissements a atteint 8,69 milliards $ répartis sur 386 sociétés de portefeuille
- Une distribution trimestrielle de 0,39 $ par action a été déclarée, payable le 28 mars 2025
Parmi les transactions notables, on peut citer l'achèvement d'une titrisation de dette à long terme de 2,2 milliards $ en novembre 2024 et l'augmentation des engagements de la facilité de crédit renouvelable à 2,0 milliards $ contre 1,8 milliard $. Le ratio d'endettement selon les normes GAAP de l'entreprise a augmenté à 1,24x au 31 décembre 2024.
Golub Capital BDC (GBDC) berichtete über die finanziellen Ergebnisse für das erste Quartal des Geschäftsjahres 2025, das am 31. Dezember 2024 endete. Die wichtigsten Highlights sind:
- Das netto Investment-Einkommen betrug $0.37 pro Aktie, verglichen mit $0.45 im vorherigen Quartal
- Das bereinigte netto Investment-Einkommen betrug $0.39 pro Aktie
- Der Nettovermögenswert sank auf $15.13 pro Aktie von $15.19
- Der faire Wert des Gesamtinvestitionsportfolios erreichte $8.69 Milliarden in 386 Portfoliogesellschaften
- Erklärte eine vierteljährliche Ausschüttung von $0.39 pro Aktie, zahlbar am 28. März 2025
Zu den bemerkenswerten Transaktionen gehören der Abschluss einer $2.2 Milliarden großen Schuldtitelsecuritization im November 2024 sowie die Erhöhung der Commitments der revolvierenden Kreditfazilität von $1.8 Milliarden auf $2.0 Milliarden. Das GAAP-Verschuldungsverhältnis des Unternehmens stieg bis zum 31. Dezember 2024 auf 1.24x.
- Portfolio expansion to $8.69 billion from $8.24 billion in previous quarter
- 87.2% of investments rated in top performance category (4 rating)
- Successful completion of $2.2 billion debt securitization
- Credit facility expansion by $200 million to $2.0 billion
- Net investment income decreased to $0.37 per share from $0.45
- NAV decline to $15.13 from $15.19 per share
- Increased leverage ratio to 1.24x from previous levels
- Higher interest expenses at $79.6M vs $66.6M in previous quarter
Insights
The Q1 FY2025 results reveal several key developments worth examining. While adjusted net investment income of
Three significant positives stand out: First, portfolio quality metrics remain exceptional, with
The investment portfolio expansion to
The sustained
Declares Quarterly Distribution of
Except where the context suggests otherwise, the terms “we,” “us,” “our,” and “Company” refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. “GC Advisors” refers to GC Advisors LLC, our investment adviser.
SELECTED FINANCIAL HIGHLIGHTS |
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(in thousands, except per share data) |
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|
|||||
|
December 31, 2024 |
|
September 30, 2024 |
|||||
Investment portfolio, at fair value |
$ |
8,685,231 |
|
|
$ |
8,235,411 |
|
|
Total assets |
$ |
9,008,786 |
|
|
$ |
8,703,756 |
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|
Net asset value per share |
$ |
15.13 |
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|
$ |
15.19 |
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Quarter Ended |
|||||||
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December 31, 2024 |
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September 30, 2024 |
|||||
Net investment income per share |
$ |
0.37 |
|
|
$ |
0.45 |
|
|
Amortization of purchase premium per share |
|
0.02 |
|
|
|
0.02 |
|
|
Adjusted net investment income per share1 |
$ |
0.39 |
|
|
$ |
0.47 |
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|
|
|||||
Net realized/unrealized gain/(loss) per share |
$ |
0.05 |
|
|
$ |
(0.09 |
) |
|
Reversal of realized/unrealized loss resulting from the amortization of purchase premium per share1 |
|
(0.02 |
) |
|
|
(0.02 |
) |
|
Adjusted net realized/unrealized gain/(loss) per share1 |
$ |
0.03 |
|
|
$ |
(0.11 |
) |
|
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|
|
|
|||||
Earnings/(loss) per share |
$ |
0.42 |
|
|
$ |
0.36 |
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|
Adjusted earnings/(loss) per share1 |
$ |
0.42 |
|
|
$ |
0.36 |
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Net asset value per share |
$ |
15.13 |
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|
$ |
15.19 |
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|
Distributions paid per share |
$ |
0.48 |
|
|
$ |
0.49 |
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|
1 |
On September 16, 2019 and June 3, 2024, the Company completed its acquisition of Golub Capital Investment Corporation (“GCIC”) and Golub Capital BDC 3, Inc. (“GBDC 3”), respectively. Each acquisition was accounted for under the asset acquisition method of accounting in accordance with Accounting Standards Codification 805-50, Business Combinations — Related Issues. Under asset acquisition accounting, where the consideration paid to GCIC and GBDC 3’s stockholders exceeded the relative fair values of the assets acquired, the premium paid by the Company was allocated to the cost of the GCIC and GBDC 3 investments acquired by the Company pro-rata based on their relative fair value. Immediately following each acquisition, the Company recorded its assets at their respective fair values and, as a result, the purchase premium allocated to the cost basis of the assets acquired was immediately recognized as unrealized depreciation on the Company's Consolidated Statement of Operations. The purchase premium allocated to investments in loan securities acquired from GCIC and GBDC 3 will amortize over the life of the loans through interest income with a corresponding reversal of the unrealized depreciation on such loans acquired through their ultimate disposition. The purchase premium allocated to investments in equity securities will not amortize over the life of the equity securities through interest income and, assuming no subsequent change to the fair value of the GCIC and GBDC 3 equity securities acquired and disposition of such equity securities at fair value, the Company will recognize a realized loss with a corresponding reversal of the unrealized depreciation upon disposition of the GCIC and GBDC 3 equity securities acquired. |
As a supplement to |
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|
The Company believes that excluding the financial impact of the purchase premium write down in the above non-GAAP financial measures is useful for investors as it is a non-cash expense/loss resulting from the acquisitions of GCIC and GBDC 3 and is one method the Company uses to measure its financial condition and results of operations. In addition, the Company believes excluding the accrual of the capital gain incentive fee under GAAP is useful as a portion of such accrual is not contractually payable under the terms of the Company’s investment advisory agreement with GC Advisors. |
First Fiscal Quarter 2025 Highlights
-
Net investment income per share for the quarter ended December 31, 2024 was
$0.37 $0.45 $0.02 $0.39 $0.47 $0.02 -
Net realized and unrealized gain/(loss) per share for the quarter ended December 31, 2024 was
$0.05 $0.03 $0.02 $(0.09) $(0.11) $0.02 -
Earnings per share for the quarter ended December 31, 2024 was
$0.42 $0.36 $0.42 $0.36 -
Net asset value per share decreased to
$15.13 $15.19 -
On June 2, 2024, our board of directors declared a series of special distributions totaling
$0.15 $0.05 -
On December 13, 2024 we paid a supplemental distribution of
$0.04 $0.05 $0.39 -
On February 3, 2025, our board of directors declared a quarterly distribution of
$0.39 -
During the three months ended December 31, 2024, the Golub Capital Employee Grant Program Rabbi Trust (the “Trust”) purchased approximately
$1.9 million $10.1 million
Portfolio and Investment Activities
As of December 31, 2024, the Company had investments in 386 portfolio companies with a total fair value of
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As of December 31, 2024 |
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As of September 30, 2024 |
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Investments |
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Percentage of |
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Investments |
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Percentage of |
||||
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|
at Fair Value |
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Total |
|
at Fair Value |
|
Total |
||||
Investment Type |
|
(In thousands) |
|
Investments |
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(In thousands) |
|
Investments |
||||
Senior secured |
|
$ |
476,601 |
|
5.5 |
% |
|
$ |
502,386 |
|
6.1 |
% |
One stop |
|
|
7,543,323 |
|
86.8 |
|
|
|
7,110,258 |
|
86.3 |
|
Junior debt* |
|
|
56,332 |
|
0.7 |
|
|
|
44,229 |
|
0.6 |
|
Equity |
|
|
608,975 |
|
7.0 |
|
|
|
578,538 |
|
7.0 |
|
Total |
|
$ |
8,685,231 |
|
100.0 |
% |
|
$ |
8,235,411 |
|
100.0 |
% |
| * Junior debt is comprised of second lien and subordinated debt. | ||||||||||||
The following table shows the asset mix of our new investment commitments for the three months ended December 31, 2024:
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New Investment |
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Commitments |
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Percentage of |
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(In thousands) |
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Commitments |
|||
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|
|||
Senior secured |
$ |
27,767 |
|
2.3 |
% |
|
One stop |
|
1,139,505 |
|
95.9 |
|
|
Junior debt* |
|
10,278 |
|
0.9 |
|
|
Equity |
|
10,540 |
|
0.9 |
|
|
Total new investment commitments |
$ |
1,188,090 |
|
100.0 |
% |
|
| * Junior debt is comprised of second lien and subordinated debt. | ||||||
Total investments in portfolio companies at fair value were
Consolidated Results of Operations
For the first fiscal quarter of 2025, the Company reported GAAP net income of
Net income can vary substantially from period to period due to various factors, including the level of new investment commitments, the recognition of realized gains and losses and unrealized appreciation and depreciation. As a result, quarterly comparisons of net income may not be meaningful.
Liquidity and Capital Resources
The Company’s liquidity and capital resources are derived from the Company’s debt securitizations (also known as collateralized loan obligations, or CLOs), unsecured notes, revolving credit facilities and cash flow from operations. The Company’s primary uses of funds from operations include investments in portfolio companies and payment of fees and other expenses that the Company incurs. The Company has used, and expects to continue to use, its debt securitizations, unsecured notes, revolving credit facilities, proceeds from its investment portfolio and proceeds from offerings of its securities and its dividend reinvestment plan to finance its investment objectives.
As of December 31, 2024, we had cash, cash equivalents and foreign currencies of
On November 15, 2024 and December 6, 2024, we entered into agreements to increase the aggregate commitments outstanding under our revolving credit facility with JPMorgan to
On November 18, 2024, GBDC completed a
On November 19, 2024, all amounts outstanding under the credit facility with Deutsche Bank we assumed from GBDC 3 were repaid, following which the agreements governing our credit facility with Deutsche Bank were terminated.
On December 3, 2024, we issued an additional
The Company estimates that our GAAP leverage ratio increased to 1.24x as of December 31, 2024 and our GAAP debt-to-equity ratio, net3 increased to 1.19x as of December 31, 2024 (1.14x, on average, throughout the quarter ended December 31, 2024).
Portfolio and Asset Quality
GC Advisors regularly assesses the risk profile of each of the Company’s investments and rates each of them based on an internal system developed by Golub Capital and its affiliates. This system is not generally accepted in our industry or used by our competitors. It is based on the following categories, which we refer to as GC Advisors’ internal performance ratings:
Internal Performance Ratings |
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Rating |
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Definition |
5 |
|
Involves the least amount of risk in our portfolio. The borrower is performing above expectations, and the trends and risk factors are generally favorable. |
4 |
|
Involves an acceptable level of risk that is similar to the risk at the time of origination. The borrower is generally performing as expected, and the risk factors are neutral to favorable. |
3 |
|
Involves a borrower performing below expectations and indicates that the loan’s risk has increased somewhat since origination. The borrower could be out of compliance with debt covenants; however, loan payments are generally not past due. |
2 |
|
Involves a borrower performing materially below expectations and indicates that the loan’s risk has increased materially since origination. In addition to the borrower being generally out of compliance with debt covenants, loan payments could be past due (but generally not more than 180 days past due). |
1 |
|
Involves a borrower performing substantially below expectations and indicates that the loan’s risk has substantially increased since origination. Most or all of the debt covenants are out of compliance and payments are substantially delinquent. Loans rated 1 are not anticipated to be repaid in full and we will reduce the fair market value of the loan to the amount we anticipate will be recovered. |
Our internal performance ratings do not constitute any rating of investments by a nationally recognized statistical rating organization or represent or reflect any third-party assessment of any of our investments. For additional analysis on the Company's internal performance ratings as of December 31, 2024, please refer to the Quarter Ended 12.31.2024 Earnings Presentation available on Investors Resources link on the homepage of the Company's website (www.golubcapitalbdc.com) under Events/Presentations.
The following table shows the distribution of the Company’s investments on the 1 to 5 internal performance rating scale at fair value as of December 31, 2024 and September 30, 2024:
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|
December 31, 2024 |
|
September 30, 2024 |
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Internal |
|
Investments |
|
Percentage of |
|
Investments |
|
Percentage of |
||||
Performance |
|
at Fair Value |
|
Total |
|
at Fair Value |
|
Total |
||||
Rating |
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(In thousands) |
|
Investments |
|
(In thousands) |
|
Investments |
||||
5 |
|
$ |
232,260 |
|
2.7 |
% |
|
$ |
158,656 |
|
1.9 |
% |
4 |
|
|
7,578,339 |
|
87.2 |
|
|
|
7,013,631 |
|
85.2 |
|
3 |
|
|
763,677 |
|
8.8 |
|
|
|
955,079 |
|
11.6 |
|
2 |
|
|
110,953 |
|
1.3 |
|
|
|
108,045 |
|
1.3 |
|
1 |
|
|
2 |
|
0.0 |
* |
|
|
— |
|
— |
|
Total |
|
$ |
8,685,231 |
|
100.0 |
% |
|
$ |
8,235,411 |
|
100.0 |
% |
* Represents an amount less than |
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Conference Call
The Company will host an earnings conference call at 10:00 am (Eastern Time) on Wednesday, February 5, 2025 to discuss the quarterly financial results. All interested parties may participate in the conference call by dialing (888) 330-3529 approximately 10-15 minutes prior to the call; international callers should dial (646) 960-0656. Participants should reference Golub Capital BDC, Inc. when prompted. For a slide presentation that we intend to refer to on the earnings conference call, please visit the Investor Resources link on the homepage of our website (www.golubcapitalbdc.com) and click on the Quarter Ended 12.31.2024 Earnings Presentation under Events/Presentations. An archived replay of the call will be available shortly after the call until 11:59 p.m. (Eastern Time) on February 12, 2025. To hear the replay, please dial (800) 770-2030. International dialers, please dial +1 (609) 800-9909. For all replays, please reference program ID number 5111111.
Golub Capital BDC, Inc. and Subsidiaries |
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Consolidated Statements of Financial Condition |
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(In thousands, except share and per share data) |
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December 31, 2024 |
|
September 30, 2024 |
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Assets |
(unaudited) |
|
(audited) |
|||||
Investments, at fair value (cost of |
$ |
8,685,231 |
|
|
$ |
8,235,411 |
|
|
Cash and cash equivalents |
|
103,508 |
|
|
|
123,120 |
|
|
Unrestricted foreign currencies (cost of |
|
6,769 |
|
|
|
8,044 |
|
|
Restricted cash and cash equivalents |
|
110,597 |
|
|
|
227,152 |
|
|
Restricted foreign currencies (cost of |
|
— |
|
|
|
1,236 |
|
|
Interest receivable |
|
73,296 |
|
|
|
74,036 |
|
|
Other assets |
|
29,385 |
|
|
|
34,757 |
|
|
Total Assets |
$ |
9,008,786 |
|
|
$ |
8,703,756 |
|
|
|
|
|
|
|||||
Liabilities |
|
|
|
|||||
Debt |
$ |
4,919,258 |
|
|
$ |
4,624,791 |
|
|
Less unamortized debt issuance costs |
|
(28,694 |
) |
|
|
(25,361 |
) |
|
Debt less unamortized debt issuance costs |
|
4,890,564 |
|
|
|
4,599,430 |
|
|
Interest payable |
|
51,518 |
|
|
|
45,701 |
|
|
Management and incentive fees payable |
|
38,823 |
|
|
|
33,619 |
|
|
Accounts payable and accrued expenses |
|
10,337 |
|
|
|
10,477 |
|
|
Total Liabilities |
|
4,991,242 |
|
|
|
4,689,227 |
|
|
|
|
|
|
|||||
Net Assets |
|
|
|
|||||
Preferred stock, par value |
|
— |
|
|
|
— |
|
|
Common stock, par value |
|
265 |
|
|
|
264 |
|
|
Paid in capital in excess of par |
|
4,185,811 |
|
|
|
4,167,258 |
|
|
Distributable earnings |
|
(168,532 |
) |
|
|
(152,993 |
) |
|
Total Net Assets |
|
4,017,544 |
|
|
|
4,014,529 |
|
|
Total Liabilities and Total Net Assets |
$ |
9,008,786 |
|
|
$ |
8,703,756 |
|
|
Number of common shares outstanding |
|
265,498,597 |
|
|
|
264,277,128 |
|
|
Net asset value per common share |
$ |
15.13 |
|
|
$ |
15.19 |
|
|
Golub Capital BDC, Inc. and Subsidiaries |
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Consolidated Statements of Operations |
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(In thousands, except share and per share data) |
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Three months ended |
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|
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December 31, 2024 |
|
September 30, 2024 |
||||
|
|
(unaudited) |
|
(unaudited) |
||||
Investment income |
|
|
||||||
Interest income |
|
$ |
217,306 |
|
|
$ |
222,383 |
|
Acquisition purchase price premium amortization |
|
|
(5,686 |
) |
|
|
(6,178 |
) |
Dividend income |
|
|
8,487 |
|
|
|
7,510 |
|
Fee income |
|
|
593 |
|
|
|
691 |
|
Total investment income |
|
|
220,700 |
|
|
|
224,406 |
|
|
|
|
|
|
||||
Expenses |
|
|
|
|
||||
Interest and other debt financing expenses |
|
|
79,643 |
|
|
|
66,595 |
|
Base management fee |
|
|
21,581 |
|
|
|
20,534 |
|
Incentive fee |
|
|
18,058 |
|
|
|
20,852 |
|
Professional fees |
|
|
1,840 |
|
|
|
1,360 |
|
Administrative service fee |
|
|
2,902 |
|
|
|
2,840 |
|
General and administrative expenses |
|
|
561 |
|
|
|
346 |
|
Total expenses |
|
|
124,585 |
|
|
|
112,527 |
|
Incentive fee waived |
|
|
— |
|
|
|
(7,767 |
) |
Net expenses |
|
|
124,585 |
|
|
|
104,760 |
|
Net investment income before tax |
|
|
96,115 |
|
|
|
119,646 |
|
Excise and Income tax |
|
|
(475 |
) |
|
|
— |
|
Net investment income after tax |
|
|
96,590 |
|
|
|
119,646 |
|
|
|
|
|
|
||||
Net gain (loss) on investment transactions |
|
|
|
|
||||
Net realized gain (loss) from: |
|
|
|
|
||||
Investments |
|
|
(25,356 |
) |
|
|
(32,072 |
) |
Foreign currency transactions |
|
|
(3,705 |
) |
|
|
(409 |
) |
Forward currency contracts |
|
|
1,206 |
|
|
|
3,022 |
|
Net realized gain (loss) in investment transactions |
|
|
(27,855 |
) |
|
|
(29,459 |
) |
Net change in unrealized appreciation (depreciation) from: |
|
|
|
|
||||
Investments |
|
|
43,621 |
|
|
|
3,561 |
|
Translation of assets and liabilities in foreign currencies |
|
|
(22,973 |
) |
|
|
21,948 |
|
Forward currency contracts |
|
|
21,927 |
|
|
|
(20,600 |
) |
Net change in unrealized appreciation (depreciation) on investment transactions |
|
|
42,575 |
|
|
|
4,909 |
|
Net gain (loss) on investments |
|
|
14,720 |
|
|
|
(24,550 |
) |
Net realized gain (loss) on extinguishment of debt |
|
|
(48 |
) |
|
|
— |
|
Provision for taxes on unrealized appreciation on investments |
|
|
52 |
|
|
|
103 |
|
Net increase (decrease) in net assets resulting from operations |
|
$ |
111,314 |
|
|
$ |
95,199 |
|
|
|
|
|
|
||||
Per Common Share Data |
|
|
|
|
||||
Basic and diluted earnings per common share |
|
$ |
0.42 |
|
|
$ |
0.36 |
|
Dividends and distributions declared per common share |
|
$ |
0.48 |
|
|
$ |
0.49 |
|
Basic and diluted weighted average common shares outstanding |
|
|
264,343,512 |
|
|
|
264,439,678 |
|
ABOUT GOLUB CAPITAL BDC, INC.
Golub Capital BDC, Inc. (“GBDC”) is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. GBDC invests primarily in one stop and other senior secured loans to middle market companies that are often sponsored by private equity investors. GBDC’s investment activities are managed by its investment adviser, GC Advisors LLC, an affiliate of the Golub Capital LLC group of companies ("Golub Capital").
ABOUT GOLUB CAPITAL
Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. The firm specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Golub Capital’s sponsor finance expertise also forms the foundation of its Broadly Syndicated Loan and Credit Opportunities investment programs. Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.
As of January 1, 2025, Golub Capital had over 1,000 employees and over
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. Golub Capital BDC, Inc. undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Source: Golub Capital BDC, Inc.
________________________ |
|
1 |
See footnote 1 to “Selected Financial Highlights” above. |
2 |
See footnote 1 to “Selected Financial Highlights” above. |
3 |
GAAP debt-to-equity, net is calculated as (a) total debt reduced by (i) cash, (ii) cash equivalents and foreign currencies and (iii) restricted cash held for partial repayment on notes of certain of our securitization vehicles past their reinvestment period term (if any) divided by (b) total net assets. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250204425632/en/
Christopher Ericson
312-212-4036
cericson@golubcapital.com
Source: Golub Capital BDC, Inc.
FAQ
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