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Kayne Anderson BDC, Inc. Announces June 30, 2024 Financial Results and Declares Third Quarter 2024 Dividend of $0.40 Per Share

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Kayne Anderson BDC (NYSE: KBDC) reported its Q2 2024 financial results and declared a Q3 2024 dividend of $0.40 per share. Key highlights include:

- Net investment income of $34.4 million ($0.51 per share)
- Net asset value of $16.57 per share
- New private credit investment commitments of $141.8 million
- Amended Revolving Funding Facility, increasing commitment to $600 million
- Total investment income increased to $52.5 million from $46.5 million in Q1 2024

The company's debt-to-equity ratio was 0.53x as of June 30, 2024, below its target of 1.0x to 1.25x. KBDC expects to continue growing its private credit portfolio to achieve targeted leverage. The Board declared a regular dividend of $0.40 per share, payable on October 15, 2024.

Kayne Anderson BDC (NYSE: KBDC) ha riportato i risultati finanziari del secondo trimestre 2024 e ha dichiarato un dividendo per il terzo trimestre 2024 di $0,40 per azione. Punti salienti includono:

- Reddito da investimenti netti di $34,4 milioni ($0,51 per azione)
- Valore patrimoniale netto di $16,57 per azione
- Nuovi impegni per investimenti in crediti privati di $141,8 milioni
- Modifica della linea di credito revolving, aumentando l'impegno a $600 milioni
- Il reddito totale da investimenti è aumentato a $52,5 milioni, rispetto ai $46,5 milioni del primo trimestre 2024

Il rapporto debito-capitale dell'azienda era di 0,53x al 30 giugno 2024, al di sotto del target di 1,0x a 1,25x. KBDC si aspetta di continuare a far crescere il suo portafoglio di crediti privati per raggiungere l'effetto leva previsto. Il Consiglio di Amministrazione ha dichiarato un dividendo regolare di $0,40 per azione, pagabile il 15 ottobre 2024.

Kayne Anderson BDC (NYSE: KBDC) informó sus resultados financieros del segundo trimestre de 2024 y declaró un dividendo del tercer trimestre de 2024 de $0,40 por acción. Aspectos destacados incluyen:

- Ingresos netos de inversiones de $34,4 millones ($0,51 por acción)
- Valor neto de activos de $16,57 por acción
- Nuevos compromisos de inversión en crédito privado de $141,8 millones
- Modificación de la línea de crédito renovable, aumentando el compromiso a $600 millones
- Los ingresos totales de inversión aumentaron a $52,5 millones desde $46,5 millones en el primer trimestre de 2024

La relación deuda-capital de la empresa era de 0,53x al 30 de junio de 2024, por debajo de su objetivo de 1,0x a 1,25x. KBDC espera continuar creciendo su cartera de crédito privado para alcanzar el apalancamiento objetivo. La Junta declaró un dividendo regular de $0,40 por acción, pagadero el 15 de octubre de 2024.

케인 앤더슨 BDC(NYSE: KBDC)는 2024년 2분기 재무 결과를 발표하고 2024년 3분기 주당 $0.40의 배당금을 선언했습니다. 주요 하이라이트는 다음과 같습니다:

- 순 투자 수익이 3,440만 달러($0.51 per share)
- 주당 순 자산 가치가 $16.57
- 1억 4,180만 달러의 새로운 개인 신용 투자 약정
- 리볼빙 자금 조달 시설 수정, 약정을 6억 달러로 증가시킴
- 총 투자 수익이 4,650만 달러에서 5,250만 달러로 증가했습니다.

회사의 부채-자본 비율은 2024년 6월 30일 기준으로 0.53배로, 목표치인 1.0배에서 1.25배 이하입니다. KBDC는 목표 레버리지를 달성하기 위해 개인 신용 포트폴리오를 계속 확장할 것으로 예상합니다. 이사회는 2024년 10월 15일에 지급될 주당 $0.40의 정기 배당금을 선언했습니다.

Kayne Anderson BDC (NYSE: KBDC) a annoncé ses résultats financiers pour le 2e trimestre 2024 et a déclaré un dividende de 0,40 $ par action pour le 3e trimestre 2024. Les points clés incluent :

- Revenus nets d'investissements de 34,4 millions $ (0,51 $ par action)
- Valeur nette des actifs de 16,57 $ par action
- Nouveaux engagements d'investissement dans le crédit privé de 141,8 millions $
- Modifications de la ligne de crédit renouvelable, portant l'engagement à 600 millions $
- Les revenus totaux d'investissement ont augmenté à 52,5 millions $ contre 46,5 millions $ au 1er trimestre 2024

Le ratio de dette sur capitaux propres de l'entreprise était de 0,53x au 30 juin 2024, inférieur à l'objectif de 1,0x à 1,25x. KBDC s'attend à continuer à développer son portefeuille de crédits privés pour atteindre l'effet de levier visé. Le conseil a déclaré un dividende régulier de 0,40 $ par action, payable le 15 octobre 2024.

Kayne Anderson BDC (NYSE: KBDC) hat seine finanziellen Ergebnisse für das 2. Quartal 2024 veröffentlicht und eine Dividende von 0,40 $ pro Aktie für das 3. Quartal 2024 erklärt. Wichtige Highlights umfassen:

- Nettokapitalerträge in Höhe von 34,4 Millionen $ (0,51 $ pro Aktie)
- Nettovermögen von 16,57 $ pro Aktie
- Neue Verpflichtungen für private Kreditinvestitionen in Höhe von 141,8 Millionen $
- Änderungen der revolvierenden Kreditfazilität, Erhöhung des Engagements auf 600 Millionen $
- Gesamte Investitionserträge stiegen von 46,5 Millionen $ im 1. Quartal 2024 auf 52,5 Millionen $

Das Verhältnis von Schulden zu Eigenkapital des Unternehmens lag zum 30. Juni 2024 bei 0,53x, unter dem Zielwert von 1,0x bis 1,25x. KBDC rechnet damit, sein Portfolio an privaten Krediten weiter auszubauen, um die angestrebte Hebelwirkung zu erreichen. Der Vorstand erklärte eine reguläre Dividende von 0,40 $ pro Aktie, zahlbar am 15. Oktober 2024.

Positive
  • Net investment income increased to $34.4 million ($0.51 per share)
  • New private credit investment commitments of $141.8 million
  • Amended Revolving Funding Facility, increasing commitment to $600 million and reducing interest rate
  • Total investment income increased to $52.5 million from $46.5 million in Q1 2024
  • Net asset value per share increased by $0.05 after considering IPO dilution
Negative
  • Net asset value per share decreased from $16.63 to $16.57 quarter-over-quarter
  • Net change in unrealized losses of $3.1 million for the quarter
  • Trademark Global moved to non-accrual status as of June 30, 2024
  • Non-accrual investments increased to 1.0% of debt investments at fair value, up from 0.4% in Q1 2024

Insights

KBDC's Q2 2024 results show a mixed performance. Net investment income of $34.4 million ($0.51 per share) decreased slightly from Q1's $0.52 per share. The NAV dipped to $16.57 from $16.63, partly due to IPO dilution. However, the company's portfolio grew, with new private credit investment commitments of $141.8 million.

The amended Revolving Funding Facility, now at $600 million with improved terms, enhances KBDC's liquidity position. The debt-to-equity ratio of 0.53x is below their 1.0x-1.25x target, suggesting room for portfolio growth. The weighted average yield on the total debt portfolio remains stable at 11.7%, indicating consistent returns.

While the increase in non-accrual investments to 1.0% of the portfolio is concerning, it's still within manageable levels. The declared dividend of $0.40 per share maintains the previous quarter's payout, reflecting confidence in ongoing earnings potential.

KBDC's Q2 results reflect the current dynamics in the private credit market. The increase in origination activity aligns with broader market trends, as middle-market companies continue to seek alternative financing sources. The company's focus on senior secured first lien loans in the core middle market demonstrates a conservative approach, balancing yield with risk management.

The slight NAV decrease and increase in non-accrual investments warrant attention, potentially signaling some stress in the portfolio. However, the company's ability to grow its portfolio and maintain its dividend in this environment is noteworthy. The amended credit facility with improved terms suggests strong lender confidence and positions KBDC well for future growth.

Investors should monitor KBDC's progress towards its target leverage ratio, as this could drive future earnings growth. The company's performance relative to peers and its ability to navigate potential economic headwinds will be important factors to watch in the coming quarters.

CHICAGO--(BUSINESS WIRE)-- Kayne Anderson BDC, Inc. (NYSE: KBDC) (“KBDC” or the “Company”), a business development company externally managed by its investment adviser, KA Credit Advisors, LLC, today announced its financial results for the second quarter ended June 30, 2024.

“We believe that the core middle market represents the most attractive risk / reward area of private credit and are pleased with the portfolio of senior secured first lien loans that we have constructed for KBDC,” said Ken Leonard, Co-Chief Executive Officer. “Our middle market loans have relatively low leverage and higher interest coverage while earning an attractive yield for our shareholders.”

“We are encouraged by the increase in origination activity that we have experienced in the first half of the year and are confident that KBDC will continue to grow its private credit portfolio over the remainder of the year to the benefit of our shareholders,” said Doug Goodwillie, Co-Chief Executive Officer.

Financial Highlights for the Quarter Ended June 30, 2024

  • Net investment income of $34.4 million, or $0.51 per share;
  • Net asset value of $16.57 per share, a decrease from $16.63 per share as of March 31, 2024, but an increase of $0.05 after considering $0.11 per share dilution from the Company’s Initial Public Offering (“IPO”);
  • Amended the Revolving Funding Facility, increasing the commitment from $455 million to $600 million, extending the maturity date to April 3, 2029 and reducing the interest rate from daily SOFR plus 2.75% to SOFR plus 2.375%-2.50% depending on the mix of loans securing the facility;
  • New private credit investment commitments of $141.8 million, fundings of $136.2 million and sales and repayments of $40.5 million, resulting in a net funded private credit portfolio increase of $95.7 million;
  • Net repayments of broadly syndicated loans of $28.5 million; and
  • The Company’s Board of Directors (the “Board”) declared a regular dividend of $0.40 per share, to be paid on October 15, 2024 to stockholders of record as of September 30, 2024.

Selected Financial Highlights

 

 

As of

(in thousands, expect per share data)

 

June 30, 2024

 

 

March 31, 2024

 

 

 

 

 

 

 

 

 

Investment portfolio, at fair value

 

$

1,847,058

 

 

 

$

1,784,045

Total assets

 

$

1,909,850

 

 

 

$

1,844,441

Total debt outstanding, at principal

 

$

622,000

 

 

 

$

659,000

Net assets

 

$

1,178,176

 

 

 

$

811,557

Net asset value per share

 

$

16.57

 

 

 

$

16.63

Total debt-to-equity ratio

 

 

0.53x

 

 

 

0.81x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the quarter ended

 

 

June 30, 2024

 

 

March 31, 2024

 

 

 

 

 

 

 

 

 

Net investment income per share

 

$

0.51

 

 

 

$

0.52

Net realized and unrealized gains (losses) per share

 

$

(0.05

)

 

 

$

0.09

Earnings per share

 

$

0.46

 

 

 

$

0.61

Regular dividend per share

 

$

0.40

 

 

 

$

0.40

Special dividend per share

 

$

-

 

 

 

$

-

Results of Operations

Total investment income for the quarter ended June 30, 2024 was $52.5 million, as compared to $46.5 million for the quarter ended March 31, 2024. The increase was driven by the additions to the portfolio during the second quarter and the full quarter impact of purchases made late in the first quarter.

Net investment income for the quarter ending June 30, 2024 was $34.4 million or $0.51 per share, compared to $23.8 million or $0.52 per share for the quarter ended March 31, 2024. Total expenses for the second quarter were $18.1 million compared to $22.7 million for the prior quarter. The decrease was due to lower interest expense resulting from using a portion of the proceeds from the Company’s IPO to repay revolver borrowings during the quarter. The decrease was also a result of a full waiver of income-based incentive fees during the quarter.

For the quarter ended June 30, 2024, the net change in unrealized losses was $3.1 million. The unrealized losses for the quarter were primarily driven by changes in the fair value of certain investments, particularly Trademark Global and Siegel Egg. Trademark Global was moved to non-accrual status as of June 30, 2024. For the quarter, realized losses were $0.1 million related to the disposition of a broadly syndicated loan position.

Portfolio and Investment Activity

 

As of

 

($ in thousands)

June 30, 2024

 

March 31, 2024

 

 

 

 

 

 

Investments at fair value

$

1,847,058

 

 

$

1,784,045

 

 

Number of portfolio companies

 

106

 

 

 

103

 

 

Average portfolio company investment size

$

17,425

 

 

$

17,321

 

 

 

 

 

 

 

 

 

Asset class:

 

 

 

 

 

 

First lien debt

 

97.8

%

 

 

97.7

%

 

Subordinated debt

 

1.2

%

 

 

1.2

%

 

Equity

 

1.0

%

 

 

1.1

%

 

 

 

 

 

 

 

 

Non-accrual debt investments:

 

 

 

 

 

 

Non-accrual investments at fair value

$

18,897

 

 

$

7,033

 

 

Non-accrual investments as a percentage of debt investments at fair value

 

1.0

%

 

 

0.4

%

 

Number of investments on non-accrual

 

2

 

 

 

1

 

 

 

 

 

 

 

 

 

Interest rate type:

 

 

 

 

 

 

Percentage floating-rate

 

100.0

%

 

 

100.0

%

 

Percentage fixed-rate

 

0.0

%

 

 

0.0

%

 

 

 

 

 

 

 

 

Yields (at fair value):

 

 

 

 

 

 

Weighted average yield on private middle market loans

 

12.3

%

 

 

12.4

%

 

Weighted average yield on broadly syndicated loans

 

8.3

%

 

 

8.4

%

 

Weighted average yield on total debt portfolio

 

11.7

%

 

 

11.7

%

 

 

 

 

 

 

 

 

Investment activity during the quarter ended:

 

 

 

 

 

 

Gross new investment commitments

$

171,836

 

(1)

$

463,753

 

(2)

Principal amount of investments funded

$

166,161

 

(1)

$

449,601

 

(2)

Principal amount of investments sold or repaid

$

(98,968

)

(1)

$

(32,381

)

(2)

Net principal amount of investments funded

$

67,193

 

 

$

417,220

 

 

_________________

 

 

 

 

 

 

(1) For the quarter ending June 30, 2024, broadly syndicated loans represent $30,000 of new investment commitments, $30,000 of investments funded and $58,500 of investments sold or repaid.

 

(2) For the quarter ending March 31, 2024, broadly syndicated loans represent $302,000 of new investment commitments, $302,000 of investments funded and zero investments sold or repaid.

 

Liquidity and Capital Resources

As of June 30, 2024, the Company had $75 million senior unsecured notes outstanding, $547 million borrowed under its credit facilities and cash and cash equivalents of $40.6 million (including short-term investments). As of that date, the Company had $603 million of undrawn commitments available on its credit facilities (subject to borrowing base restrictions and other conditions).

On April 3, 2024, the Company, and its wholly owned, special purpose financing subsidiary, Kayne Anderson BDC Financing, LLC, amended the senior secured revolving funding facility (the “Revolving Funding Facility”). Under the terms of the third amendment, the commitment amount was increased from $455 million to $600 million. The end of the reinvestment period was extended to April 2, 2027 and the maturity date was extended to April 3, 2029. The interest rate on the Revolving Funding Facility was reduced from daily SOFR plus 2.75% per annum to SOFR plus 2.375% - 2.50% per annum depending on the mix of loans securing the Revolving Funding Facility.

The Company received net cash proceeds of $92.4 million upon the completion of its IPO on May 24, 2024, and received net cash proceeds of $269.9 million on April 2, 2024 when it closed its final capital call with pre-IPO shareholders.

As of June 30, 2024, the Company’s debt-to-equity ratio was 0.53x and its asset coverage ratio was 289%. The Company targets a debt-to-equity ratio of 1.0x to 1.25x (which equates to asset coverage of 200% to 180%). The Company is currently below its target but expects to continue to grow its private credit portfolio over coming quarters to achieve its targeted leverage.

Recent Developments

  • On August 7, 2024, the Board of Directors of the Company declared a regular dividend to common stockholders in the amount of $0.40 per share. The dividend will be paid on October 15, 2024 to stockholders of record as of the close of business on September 30, 2024.

Conference Call Information

KBDC will host a conference call at 10:00 am ET on Wednesday, August 14, 2024, to review its financial results. All interested parties are invited to participate using the following telephone dial-in or the webcast details:

Telephone Dial-in

  • Domestic: 800-579-2543
  • International: +1 785-424-1789
  • Conference ID: KBDC2Q

Webcast Link

To avoid potential delays, please join at least 10 minutes prior to the start of the earnings call. A telephone replay will also be available by dialing 800-934-7612 (domestic) and +1 402-220-6980 (international). The replay will be available until August 28, 2024.

Kayne Anderson BDC, Inc.

Consolidated Statements of Assets and Liabilities

(amounts in 000’s, except share and per share amounts)

 

 

 

June 30, 2024

 

December 31, 2023

Assets:

 

(Unaudited)

 

 

Investments, at fair value:

 

 

 

 

Long-term investments (amortized cost of $1,825,906 and $1,343,223)

 

$

1,847,058

 

 

$

1,363,498

 

Short-term investments (amortized cost of $20,344 and $12,802)

 

 

20,344

 

 

 

12,802

 

Cash and cash equivalents

 

 

20,271

 

 

 

34,069

 

Receivable for principal payments on investments

 

 

5,280

 

 

 

104

 

Interest receivable

 

 

16,780

 

 

 

12,874

 

Prepaid expenses and other assets

 

 

117

 

 

 

319

 

Total Assets

 

$

1,909,850

 

 

$

1,423,666

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

Corporate Credit Facility

 

$

75,000

 

 

$

234,000

 

Unamortized Corporate Credit Facility issuance costs

 

 

(1,321

)

 

 

(1,715

)

Revolving Funding Facility

 

 

389,000

 

 

 

306,000

 

Unamortized Revolving Funding Facility issuance costs

 

 

(5,808

)

 

 

(2,019

)

Revolving Funding Facility II

 

 

83,000

 

 

 

70,000

 

Unamortized Revolving Funding Facility II issuance costs

 

 

(1,571

)

 

 

(1,805

)

Subscription Credit Agreement

 

 

-

 

 

 

10,750

 

Unamortized Subscription Credit Facility issuance costs

 

 

-

 

 

 

(41

)

Notes

 

 

75,000

 

 

 

75,000

 

Unamortized notes issuance costs

 

 

(748

)

 

 

(851

)

Payable for investments purchased

 

 

72,322

 

 

 

-

 

Distributions payable

 

 

28,446

 

 

 

22,050

 

Management fee payable

 

 

3,780

 

 

 

2,996

 

Incentive fee payable

 

 

-

 

 

 

14,195

 

Accrued expenses and other liabilities

 

 

14,574

 

 

 

11,949

 

Accrued excise tax expense

 

 

-

 

 

 

101

 

Total Liabilities

 

$

731,674

 

 

$

740,610

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Assets:

 

 

 

 

 

 

Common Shares, $0.001 par value; 100,000,000 shares authorized; 71,116,459 and 41,603,666 as of June 30, 2024 and December 31, 2023, respectively, issued and outstanding

 

$

71

 

 

$

42

 

Additional paid-in capital

 

 

1,154,108

 

 

 

669,990

 

Total distributable earnings (deficit)

 

 

23,997

 

 

 

13,024

 

Total Net Assets

 

$

1,178,176

 

 

$

683,056

 

Total Liabilities and Net Assets

 

$

1,909,850

 

 

$

1,423,666

 

Net Asset Value Per Common Share

 

$

16.57

 

 

$

16.42

 

Kayne Anderson BDC, Inc.

Consolidated Statements of Operations

(amounts in 000’s, except share and per share amounts)

(Unaudited)

 

 

For the three months ended

 

For the six months ended

June 30,
2024

 

June 30,
2023

June 30,
2024

 

June 30,
2023

Income:

 

 

 

 

 

 

 

Investment income from investments:

 

 

 

 

 

 

 

Interest income

$

51,991

 

 

$

40,746

 

 

$

98,228

 

 

$

77,112

 

Dividend income

 

462

 

 

 

-

 

 

 

719

 

 

 

-

 

Total Investment Income

 

52,453

 

 

 

40,746

 

 

 

98,947

 

 

 

77,112

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

Management fees

 

4,251

 

 

 

2,848

 

 

 

7,773

 

 

 

5,533

 

Incentive fees

 

4,109

 

 

 

2,420

 

 

 

6,740

 

 

 

4,558

 

Interest expense

 

13,239

 

 

 

13,002

 

 

 

28,895

 

 

 

24,525

 

Professional fees

 

375

 

 

 

143

 

 

 

639

 

 

 

293

 

Directors fees

 

158

 

 

 

178

 

 

 

305

 

 

 

317

 

Other general and administrative expenses

 

508

 

 

 

422

 

 

 

979

 

 

 

871

 

Total Expenses

 

22,640

 

 

 

19,013

 

 

 

45,331

 

 

 

36,097

 

Less: Management fee waiver

 

(471

)

 

 

-

 

 

 

(471

)

 

 

-

 

Less: Incentive fee waiver

 

(4,109

)

 

 

-

 

 

 

(4,109

)

 

 

-

 

Net Expenses

 

18,060

 

 

 

19,013

 

 

 

40,751

 

 

 

36,097

 

Net Investment Income (Loss)

 

34,393

 

 

 

21,733

 

 

 

58,196

 

 

 

41,015

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized and unrealized gains (losses) on investments

 

 

 

 

 

 

 

 

 

 

 

Net realized gains (losses):

 

 

 

 

 

 

 

 

 

 

 

Investments

 

(138

)

 

 

-

 

 

 

(138

)

 

 

-

 

Total net realized gains (losses)

 

(138

)

 

 

-

 

 

 

(138

)

 

 

-

 

Net change in unrealized gains (losses):

 

 

 

 

 

 

 

 

 

 

 

Investments

 

(3,075

)

 

 

(731

)

 

 

877

 

 

 

(606

)

Total net change in unrealized gains (losses)

 

(3,075

)

 

 

(731

)

 

 

877

 

 

 

(606

)

Total realized and unrealized gains (losses)

 

(3,213

)

 

 

(731

)

 

 

739

 

 

 

(606

)

 

 

 

 

 

 

 

 

 

 

 

 

Net Increase (Decrease) in Net Assets Resulting from Operations

$

31,180

 

 

$

21,002

 

 

$

58,935

 

 

$

40,409

 

 

 

 

 

 

 

 

 

 

 

 

 

Per Common Share Data:

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net investment income per common share

$

0.51

 

 

$

0.56

 

 

$

1.03

 

 

$

1.10

 

Basic and diluted net increase in net assets resulting from operations

$

0.46

$

0.54

 

 

$

1.05

$

1.08

Weighted Average Common Shares Outstanding - Basic and Diluted

67,426,904

 

 

38,905,173

 

 

56,386,161

 

 

37,425,525

 

About Kayne Anderson BDC, Inc.

Kayne Anderson BDC, Inc. is a business development company (“BDC”) that invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. KBDC is externally managed by its investment adviser, KA Credit Advisors, LLC, an indirect controlled subsidiary of Kayne Anderson Capital Advisors, L.P., a prominent alternative investment management firm. KBDC has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (“1940 Act”). KBDC’s investment objective is to generate current income and, to a lesser extent, capital appreciation. For more information, please visit www.kaynebdc.com.

Forward-looking Statements

This press release may contain “forward-looking statements” that involve substantial risks and uncertainties. Such statements involve known and unknown risks, uncertainties and other factors and undue reliance should not be placed thereon. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about KBDC, its current and prospective portfolio investments, its industry, its beliefs and opinions, and its assumptions. Words such as “anticipates,” “expects,” “intends,” “plans,” “will,” “may,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “should,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond KBDC’s control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements including, without limitation, the risks, uncertainties and other factors identified in KBDC’s filings with the SEC. All forward-looking statements speak only as of the date of this press release. KBDC does not undertake any obligation to update or revise any forward-looking statements or any other information contained herein, except as required by applicable law.

Investor Relations

kaynebdc@kaynecapital.com

Source: Kayne Anderson BDC, Inc.

FAQ

What was Kayne Anderson BDC's (KBDC) net investment income for Q2 2024?

Kayne Anderson BDC (KBDC) reported net investment income of $34.4 million, or $0.51 per share, for Q2 2024.

What dividend did KBDC declare for Q3 2024?

KBDC declared a regular dividend of $0.40 per share for Q3 2024, to be paid on October 15, 2024 to stockholders of record as of September 30, 2024.

How did KBDC's investment portfolio change in Q2 2024?

KBDC's investment portfolio increased with new private credit investment commitments of $141.8 million, fundings of $136.2 million, and a net funded private credit portfolio increase of $95.7 million.

What was KBDC's debt-to-equity ratio as of June 30, 2024?

KBDC's debt-to-equity ratio was 0.53x as of June 30, 2024, which is below the company's target range of 1.0x to 1.25x.

Kayne Anderson BDC, Inc.

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1.16B
6.00M
United States of America
HOUSTON