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Goldman Sachs BDC, Inc. reports recurring developments as a specialty finance company that has elected to be regulated as a business development company under the Investment Company Act of 1940. The company invests primarily in U.S. middle-market companies and is externally managed by Goldman Sachs Asset Management, L.P.
News releases typically cover quarterly financial results, net investment income, net asset value, portfolio yield and credit statistics, base and supplemental dividends, and earnings-call schedules. Company updates also address the composition of its investment portfolio, including senior secured debt, first lien, unitranche, second lien, mezzanine and select equity investments, along with share repurchase and other capital-structure disclosures.
Goldman Sachs BDC, Inc. (GSBD) will report its fourth quarter and fiscal year financial results for the period ending December 31, 2020, after market close on February 25, 2021. An earnings conference call is scheduled for February 26 at 9:00 am ET to discuss the financial results. Interested parties can join via telephone or the audio webcast available on the company’s website. GS BDC focuses on investments in middle-market companies, seeking to generate current income and capital appreciation through various debt and equity investments.
Goldman Sachs BDC, Inc. (NYSE: GSBD) has announced a $500 million offering of 2.875% notes maturing on January 15, 2026. The notes can be redeemed at par plus a potential make-whole premium. Proceeds will be used to reduce debt under its revolving credit facility. The offering is subject to customary closing conditions and is expected to be finalized by November 24, 2020. A group of financial institutions, including BofA Securities and Citigroup, are managing the offering.
Goldman Sachs BDC, Inc. (GSBD) reported its third-quarter financial results for 2020, highlighting earnings of $0.80 per share and net investment income of $0.45 per share. The Board declared a regular dividend of $0.45 per share and special dividends totaling $0.15 per share for 2021. Post-merger with Goldman Sachs Middle Market Lending Corp., GSBD's asset base doubled to $3.5 billion, increasing net asset value to $15.57 per share as of October 9, 2020. The merger improved portfolio metrics, including a 7.9% yield and reduced debt-to-equity ratio to 0.93x.
Goldman Sachs BDC, Inc. (GSBD) has successfully completed its merger with Goldman Sachs Middle Market Lending Corp. (MMLC), significantly increasing its asset base to $3.5 billion. This merger aims to enable GSBD to capitalize on favorable lending opportunities and enhance its financial position by deleveraging. MMLC shareholders received 1.1336 shares of GSBD for each share held, and a special distribution of $75 million ($1.39 per share) was declared, payable on October 30, 2020.
Goldman Sachs BDC, Inc. (GSBD) will report its Q3 financial results for the period ending September 30, 2020, on November 5, 2020, post-market. An earnings conference call is scheduled for November 6, 2020, at 9:00 AM ET, accessible via telephone or audio webcast on the company's website. GS BDC primarily invests in middle-market U.S. companies and focuses on generating income and capital appreciation through various debt and equity investments. All interested parties are invited to participate in the call.
The merger between Goldman Sachs BDC (GSBD) and Goldman Sachs Middle Market Lending Corp. (MMLC) has received overwhelming stockholder approval, with over 96% of GSBD and over 90% of MMLC shareholders voting in favor. The vote occurred on October 2, 2020, and the transaction is expected to close around October 12, 2020, pending customary conditions. Brendan McGovern, CEO of both companies, expressed confidence that this merger will enhance their position as a leading lender to middle-market borrowers, delivering benefits to stakeholders.