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Carlyle Secured Lending, Inc. reports as a publicly traded business development company focused on directly originated financing across the capital structure, with an emphasis on senior secured lending to middle-market companies primarily in the United States. The company is externally managed by Carlyle Global Credit Investment Management L.L.C., an SEC-registered investment adviser and Carlyle subsidiary.
Recurring company updates address quarterly and annual results, net investment income, adjusted net investment income, net asset value, portfolio fair value, dividends, origination activity, credit performance and leverage. Other updates include capital-structure actions involving debt securities, joint-venture credit investments and governance or management changes tied to the BDC platform.
TCG BDC, Inc. (CGBD) has formed a joint venture with Cliffwater LLC to establish Middle Market Credit Fund II (MMCF II), enhancing its income generation capabilities. This venture includes an initial $250 million in senior secured loans, with TCG BDC holding 84% equity. The transaction is expected to improve capital deployment opportunities and allow for share repurchases, potentially increasing net investment income. TCG BDC's debt is projected to decrease by about $170 million following this move.
TCG BDC reported its third-quarter results for 2020, showcasing a solid portfolio with no new non-accruals. Total investments increased to $1,948,173, up 2.1% from the previous quarter. However, total investment income decreased to $42,784, resulting in a net investment income of $21,234 ($0.36 per share). Regular dividends were declared at $0.32, alongside a special dividend of $0.04, payable in January 2021. The weighted average yield on first lien debt was 7.08%. The company maintains a strong position amid economic uncertainty, with a focus on attractive income generation for shareholders.
TCG BDC, Inc. (CGBD) reported its second-quarter financial results for the period ended June 30, 2020. Total investments at fair value decreased by 5.8% to $1.91 billion. Total assets fell to $1.96 billion, while net assets increased to $883.3 million, translating to $14.80 per common share. The company declared a regular quarterly dividend of $0.32 and a special dividend of $0.05, payable on October 16, 2020. Despite a decrease in total investment income to $45.3 million, the net increase in net assets from operations was $56.2 million, a significant turnaround from the previous quarter's loss of $121.1 million.
TCG BDC (CGBD) has announced a shift to a virtual format for its Annual Meeting of Stockholders on June 22, 2020, due to COVID-19. The meeting will still occur at 8:00 a.m. Eastern time, with stockholders able to attend remotely. No updates will be made to previously distributed proxy materials regarding this change. Stockholders are encouraged to vote in advance using the existing proxy materials. TCG BDC focuses on lending to middle-market companies, having invested approximately $5.9 billion since 2013, and aims for current income and capital appreciation through debt investments.
TCG BDC (NASDAQ: CGBD) reported its Q1 2020 financial results, highlighting a significant decrease in net assets and investment income due to the COVID-19 pandemic. Total investments fell to $2,024,277, down 4.7% from Q4 2019. Net investment income was $23,972, or $0.42 per share, compared to $25,377, or $0.43 per share in the previous quarter. A net realized loss of $145,072 occurred, resulting in a net decrease in net assets of $121,100. The Company declared a quarterly dividend of $0.37, payable on July 17, 2020.