NEW YORK, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Carlyle Secured Lending, Inc. (the "Company") (Nasdaq: CGBD) today announced that it intends to redeem all $85,000,000 aggregate principal amount of its outstanding 8.20% Notes due 2028 (the "2028 Notes") on December 1, 2025 (the "Redemption Date"). A notice of redemption will be mailed to all registered holders of the 2028 Notes by U.S. Bank Trust Company, National Association, as successor trustee to The Bank of New York Mellon Trust Company, N.A (the "Trustee") ...

分组1 - Carlyle Secured Lending, Inc. (CGBD) is expected to report a year-over-year decline in earnings of 20.4%, with an estimated earnings per share (EPS) of $0.39, while revenues are projected to increase by 19.9% to $46.87 million [3][12] - The consensus EPS estimate has been revised down by 0.62% over the last 30 days, indicating a reassessment by analysts [4] - The company has an Earnings ESP of +2.56%, suggesting a recent bullish sentiment among analysts, but it carries a Zacks Rank of 4, making it difficult to predict an earnings beat [12][17] 分组2 - Carlyle Secured Lending has matched consensus EPS estimates in the past, delivering no surprise in the last reported quarter, and has beaten estimates two out of the last four quarters [13][14] - The stock's price movement may be influenced by how actual results compare to expectations, with potential for upward movement if results exceed estimates [2][15] - Other factors beyond earnings results may also impact stock performance, indicating that an earnings beat does not guarantee a stock price increase [15][17]

Core Points - Carlyle Secured Lending, Inc. will announce its financial results for Q3 2025 on November 4, 2025, with a conference call scheduled for November 5, 2025, at 11:00 a.m. Eastern Time [1][2] Company Overview - Carlyle Secured Lending, Inc. is a publicly traded business development company (BDC) that began investing in 2013, focusing on senior secured lending to middle-market companies primarily in the United States [3] - The company is externally managed by Carlyle Global Credit Investment Management L.L.C., a wholly owned subsidiary of Carlyle [3] - Carlyle, as a global investment firm, manages $465 billion in assets as of June 30, 2025, and operates across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest [4]

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Core Points - Carlyle Secured Lending, Inc. has announced a public offering of $300 million in unsecured notes with a 5.750% interest rate, maturing on February 15, 2031 [1] - The net proceeds from the offering will be used to repay outstanding debt, fund new investment opportunities, and for general corporate purposes [2] - The offering is managed by several financial institutions, including J.P. Morgan Securities LLC and Barclays Capital Inc. [3] Company Overview - Carlyle Secured Lending, Inc. is a closed-end, non-diversified investment company regulated as a business development company, focusing on senior secured debt investments in U.S. middle-market companies [7] - The company is managed by Carlyle Global Credit Investment Management L.L.C., a subsidiary of Carlyle, which has significant resources and expertise [7] - Carlyle, as a global investment firm, manages $465 billion in assets across various segments, including Global Private Equity and Global Credit [8][9]

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Financial Data and Key Metrics Changes - The company generated $0.39 per share of net investment income for the quarter on both a GAAP basis and after adjusting for asset acquisition accounting [6][12] - Total investment income for the second quarter was $67 million, significantly up from the prior quarter due to a higher investment portfolio balance [11] - Net asset value as of June 30 was $16.43 per share, down from $16.63 per share as of March 31 [6] Business Line Data and Key Metrics Changes - CGBD funded $376 million of investments into new and existing borrowers, the highest level since its IPO in 2017 [7] - Total investments at CGBD increased from $2.2 billion to $2.3 billion during the quarter after adjusting for $150 million of investments sold to a joint venture [7] Market Data and Key Metrics Changes - The company noted that spreads in the private credit space remain at historically tight levels, which may present a headwind to near-term earnings [9] - Less than 5% of the portfolio has material direct risk from tariffs, indicating a stable exposure to trade policy changes [8][9] Company Strategy and Development Direction - The company remains focused on overall credit performance and portfolio diversification while maintaining target leverage [9] - The management is optimistic about rebuilding the pipeline for a busier end of the year and remains focused on sourcing transactions with significant equity cushions and conservative leverage profiles [8][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about increased deal activity in the second half of the year, particularly in Q4 and into 2026 [23][45] - The company is confident in its ability to invest in quality companies despite current market uncertainties [25][26] Other Important Information - The Board of Directors declared a third-quarter dividend of $0.40 per share, representing an attractive yield of over 11% based on the recent share price [12] - The company has an estimated $0.89 per share of spillover income generated over the last five years, supporting its ability to maintain the quarterly dividend [12] Q&A Session Summary Question: What has driven the tighter spreads over the past year? - Management indicated that deal activity was not as robust in the first half as hoped, but they are optimistic about increased deal activity in the second half of the year [22] Question: Are there concerns about the US economic environment going forward? - Management noted that certainty in tariff policy would be positive for the markets, and they are happy with the companies they are investing in [25][26] Question: What about the unrealized losses recorded in the quarter? - The unrealized losses were primarily company-specific, with a mix of credit issues and market technical factors [28][29] Question: How does the company view potential share buybacks? - Management is considering share buybacks based on stock trading relative to NAV but remains focused on growth [30] Question: What is the timeline for fully deploying the current credit fund? - The goal is to fully utilize the current credit fund within the next two to three quarters [56] Question: Is there a change in the quality of opportunities entering the pipeline? - Management stated that there has not been a material change in the quality of the companies they are able to invest in [62]

Financial Performance - The company generated net investment income of $0.39 per common share on a GAAP basis and after adjusting for asset acquisition accounting[10] - The company declared a quarterly dividend of $0.40 for 3Q25, equating to an annualized dividend yield of 9.7% on its NAV as of 06/30/25[10] - Total investment income increased to $67.281 million in Q2 2025 from $54.864 million in Q1 2025[11] - Net asset value (NAV) per share was $16.43 as of June 30, 2025, compared to $16.63 as of March 31, 2025[10] Portfolio & Investment Activity - The total fair value of the portfolio increased to $2.3 billion across 148 portfolio companies with a weighted average yield of 10.9%[10] - Record originations resulted in $375.7 million of fundings with a weighted average yield of 10.0%[10] - Total repayments and sales during the quarter were $138.0 million with a weighted average yield of 10.9%[10] - Non-accrual investments represented 3.0% and 2.1% of the total portfolio based on amortized cost and fair value, respectively, as of June 30, 2025[10] Liquidity & Capital - Statutory leverage was 1.10x as of June 30, 2025, compared to 1.04x as of March 31, 2025[10] - Total liquidity as of June 30, 2025, was $613.1 million in cash and undrawn debt capacity[10]

Financial Performance - Carlyle Secured Lending, Inc. (CGBD) reported quarterly earnings of $0.39 per share, matching the Zacks Consensus Estimate, but down from $0.51 per share a year ago [1] - The company posted revenues of $45.55 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 1.68% and up from $41.65 million year-over-year [2] - Over the last four quarters, Carlyle Secured Lending has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Carlyle Secured Lending shares have declined approximately 23.5% since the beginning of the year, contrasting with the S&P 500's gain of 7.6% [3] - The current consensus EPS estimate for the upcoming quarter is $0.40 on revenues of $45.54 million, and for the current fiscal year, it is $1.60 on revenues of $171.82 million [7] Industry Outlook - The Financial - SBIC & Commercial Industry, to which Carlyle Secured Lending belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Carlyle Secured Lending's stock performance [5][6]

Financial Performance - For the three months ended June 30, 2025, Carlyle Secured Lending, Inc. recorded basic earnings per common share of $0.20, a decrease from $0.25 in the previous quarter [322]. - Net investment income for the same period was $28.3 million, or $0.39 per common share, reflecting an increase from $21.6 million in the prior quarter [321]. - Total investment income for the quarter was $67.3 million, compared to $54.9 million in the previous quarter [325]. - Adjusted Net Investment Income for the three months ended June 30, 2025, was $28,136, compared to $21,124 for the previous quarter, reflecting a 33.1% increase [329]. - Adjusted Net Income for the same period was $14,630, up from $13,228, representing a 10.6% increase [329]. - The net investment income for the three months ended June 30, 2025, was $28,250, an increase of 30.6% from $21,629 for the three months ended March 31, 2025 [368]. - Total investment income for the three months ended June 30, 2025, was $67,281, an increase of 15.5% from $58,264 in the same period of 2024 [1]. - Interest income rose to $55,641 for the three months ended June 30, 2025, compared to $42,949 in 2024, marking a 29.5% increase [1]. - Net investment income for the three months ended June 30, 2025, was $28,250, a 5.1% increase from $26,873 in 2024 [1]. Liquidity and Capital Structure - Total liquidity as of June 30, 2025, was $613.1 million, consisting of cash and undrawn debt capacity [319]. - The company had $613,076 in liquidity as of June 30, 2025, compared to $565,696 as of December 31, 2024 [2]. - As of June 30, 2025, total unfunded commitments amounted to $332,012, an increase from $179,247 as of December 31, 2024 [397]. - The statutory debt to equity ratio was 1.10x as of June 30, 2025, down from 1.20x as of December 31, 2024 [2]. - The company is permitted to borrow up to two dollars for investment purposes for every one dollar of investor equity under the amended minimum asset coverage ratio of 150% [400]. Investment Portfolio - Carlyle Secured Lending, Inc. held 202 investments across 148 portfolio companies with a total fair value of $2.3 billion as of June 30, 2025 [321]. - The fair value of total investments was $2,334,961, with 97.9% classified as performing investments [341]. - The geographical composition of investments showed that 87.6% were in the United States, with the next highest being Canada at 3.8% [333]. - The industry composition revealed that Healthcare & Pharmaceuticals accounted for 15.3% of the fair value of investments [334]. - The weighted average yield on total debt and income-producing investments at fair value was 11.1% as of June 30, 2025 [331]. - The company made 27 new investment commitments during the three months ended June 30, 2025, with an average commitment amount of $16,066 [335]. - The weighted average Internal Risk Rating of the investment portfolio was 2.1, with 89.7% of fair value rated as Internal Risk Rating 2 [340]. - The number of portfolio companies in Credit Fund increased to 40 as of June 30, 2025, from 33 as of December 31, 2024 [365]. Debt and Financing - As of June 30, 2025, the total outstanding principal balance of the company's debt was $1,318.615 million, an increase from $978.439 million as of December 31, 2024, representing a growth of approximately 34.8% [343]. - The weighted average interest rate on the total debt decreased to 6.34% as of June 30, 2025, from 6.65% as of December 31, 2024 [343]. - The Credit Facility was increased by $25 million on July 10, 2025, raising total commitments to $960 million, with a maximum capacity potentially increasing to $1,402.5 million [344]. - The company completed a public offering of $85 million in 8.20% senior unsecured notes due December 1, 2028, and $300 million in 6.75% senior unsecured notes due February 18, 2030 [351][352]. - The carrying value of the 2028 Notes and 2030 Notes as of June 30, 2025, was $378.026 million, compared to $369.728 million as of December 31, 2024 [353]. - The 2015-1N Debt, resulting from the refinancing of the 2015-1R Notes, amounted to $410 million, with a total principal amount outstanding of $380 million as of June 30, 2025 [359]. - The weighted average interest rate for the 2015-1N Debt tranches was 6.19% as of June 30, 2025, down from 6.59% as of December 31, 2024 [360]. - The company retained $30 million of Class C-R Notes, which accrue interest at SOFR plus a spread of 3.75% [360]. - The company had net borrowings of $123,456 on its Credit Facilities during the six months ended June 30, 2025 [398]. Expenses - Total expenses for the quarter, including excise tax expense, were $39.0 million, up from $33.2 million in the prior quarter [325]. - Total expenses for the three months ended June 30, 2025, were $39,031, an increase of 17.4% from $33,235 for the three months ended March 31, 2025 [368]. - Total expenses increased to $39,031 for the three months ended June 30, 2025, up 24.4% from $31,391 in 2024 [1]. - Interest expense and credit facility fees rose to $21,727 for the three months ended June 30, 2025, compared to $16,616 in 2024, a 30.5% increase [1]. Risk and Accounting - The company recognized a net realized loss on investments of $357 for the three months ended June 30, 2025, compared to a loss of $21,529 for the three months ended March 31, 2025 [368]. - The company recognized a realized loss related to the restructuring of its investment in Aimbridge Acquisition Co., Inc. during the six months ended June 30, 2025 [2]. - The company regularly measures exposure to interest rate risk and assesses whether hedging transactions are necessary [409]. - There have been no material changes in critical accounting estimates since the last annual report [403].