Company Overview - Goldman Sachs BDC (NYSE: GSBD) declared a quarterly base cash dividend of $0.32 per share, unchanged from its prior distribution, resulting in an annualized dividend of $1.28 per share, which corresponds to a 10.85% dividend yield [1]. Market Insights - The equity market serves as a powerful mechanism where daily price fluctuations can lead to significant wealth creation or destruction over the long term [1]. - Pacifica Yield focuses on long-term wealth creation by targeting undervalued yet high-growth companies, high-dividend stocks, REITs, and green energy firms [1].

Group 1 - Goldman Sachs BDC reported weaker-than-expected net investment income (NII) results for the first fiscal quarter on May 8, 2025 [1] - The investment firm focuses on first-lien debt and supported its regular dividend with net investment income [1]

In my last piece on business development company Goldman Sachs BDC Inc. (NYSE: GSBD ), I recommended the BDC’s stock as a ‘Buy’ to passive income investors. This stock classification was supported by Goldman Sachs BDC lowering its incentive fee, which createdA financial researcher and avid investor with a keen eye for innovation and disruption, as well as growth buy-outs and value stocks. Keeping an eye on the pace of high tech and early growth companies, I write about current events and the biggest news su ...

Financial Data and Key Metrics Changes - The net investment income per share for the quarter was $0.42, and the net asset value (NAV) per share was $13.2, reflecting a decrease of 1.6% from the previous quarter's NAV, primarily due to a special dividend of $0.16 per share and net realized and unrealized losses [9][10] - The adjusted NAV per share, accounting for the special dividend, was $13.15, a non-GAAP measure introduced due to the dividend policy change [10] - The company ended the quarter with a net debt to equity ratio of 1.16 times, slightly down from 1.17 times at the end of the previous quarter, remaining below the targeted leverage ratio of 1.25 times [10][19] Business Line Data and Key Metrics Changes - New investment commitments during the quarter totaled approximately $87.8 million across 14 portfolio companies, with 100% of originations in first lien loans [12] - Sales and repayment activity amounted to $179.3 million, slightly down quarter over quarter, primarily due to the full repayment and refinancing of six portfolio companies [14] - The total investments in the portfolio were valued at $3.38 billion, with 96.1% in senior secured loans, including 90.7% in first lien loans [15] Market Data and Key Metrics Changes - The weighted average yield of debt and income-producing investments decreased to 10.8% from 11.2% in the previous quarter [16] - The current weighted average interest coverage of the companies in the investment portfolio increased to 1.9 times from 1.8 times in the previous quarter [17] - Investments on nonaccrual status decreased to 1.9% of the total investment portfolio at fair value from 2% as of the previous quarter [18] Company Strategy and Development Direction - The company is focused on maintaining exposure to the top of the capital stack, with a strategy that thrives in market volatility through unique opportunities within the Goldman Sachs ecosystem [12] - The company aims to deliver on a refreshed dividend structure while navigating a challenging macroeconomic environment [22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging macro environment and the impact of tariffs on the portfolio, noting that only 3% of the portfolio companies have high exposure to tariffs [5][6] - There is optimism regarding the resilience of the portfolio and a backlog of transactions, despite the current lack of fervor in new M&A activity [22] Other Important Information - The board declared a base dividend of $0.32 per share and a special dividend of $0.16 per share, with a supplemental dividend of 5¢ per share payable on or about June 13, 2025 [9][10] - The company has approximately $720 million of borrowing capacity remaining under the revolving credit facility [19] Q&A Session Summary Question: Portfolio yield decline and repricing - Management noted that the portfolio yield declined by about 40 basis points quarter over quarter, attributing this to the exit of non-accrual positions with high coupons [25][29] Question: Impact of tariff exposure on fair value - Management clarified that the identification of companies with tariff exposure does not imply immediate impact, and performance deterioration would be reflected in future marks [30][31]

Financial Data and Key Metrics Changes - The company's net investment income per share for Q1 2025 was $0.42, with a net asset value (NAV) per share of $13.2, reflecting a decrease of 1.6% from the previous quarter's NAV due to a special dividend of $0.16 per share and net realized and unrealized losses [8][9] - The adjusted NAV per share for Q1 2025, accounting for the special dividend, was $13.15, a non-GAAP measure introduced due to the dividend policy change [9] - The net debt to equity ratio at the end of Q1 2025 was 1.16 times, slightly down from 1.17 times at the end of Q4 2024, remaining below the targeted leverage ratio of 1.25 times [9][18] Business Line Data and Key Metrics Changes - New investment commitments during the quarter totaled approximately $87.8 million across 14 portfolio companies, with 100% of originations in first lien loans [11] - Sales and repayment activity amounted to $179.3 million, primarily driven by the full repayment and refinancing of six portfolio companies [13] - The weighted average yield of debt and income-producing investments at amortized cost decreased to 10.8% from 11.2% in the previous quarter [14] Market Data and Key Metrics Changes - The portfolio consists of 163 companies across 38 different industries, with 96.1% of total investments in senior secured loans [13][14] - The current weighted average interest coverage of the companies in the investment portfolio increased to 1.9 times from 1.8 times in the previous quarter [15] Company Strategy and Development Direction - The company is focused on maintaining exposure to the top of the capital stack, with a strategy that thrives in market volatility through unique opportunities within the Goldman Sachs ecosystem [11] - The company aims to deliver on a refreshed dividend structure while navigating a challenging macroeconomic environment [20] Management's Comments on Operating Environment and Future Outlook - Management noted that the macroeconomic conditions, including tariffs, have impacted deal flow, but the majority of the portfolio companies are asset-light with minimal exposure to international supply chains [5][6] - The company remains optimistic about the resilience of its portfolio and the potential for a resurgence in M&A activity despite current market challenges [20] Other Important Information - The board declared a supplemental dividend of $0.05 per share payable on or about June 13, 2025, to shareholders of record as of May 30, 2025 [9] - The company has approximately $720 million of borrowing capacity remaining under its revolving credit facility [18] Q&A Session Summary Question: Portfolio yield decline and stabilization - Management indicated that the decline in portfolio yield was largely due to the exit of non-accrual positions with high coupons, and they do not expect significant repricing activity moving forward [22][26] Question: Impact of tariff exposure on fair value - Management clarified that the identified companies with tariff exposure have not yet shown performance deterioration that would affect their fair value, but they are monitoring the situation closely [27][28]

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Goldman Sachs BDC (GSBD) came out with quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.65%. A quarter ago, it was expected that this specialty finance company would post earnings of $0.50 per share when it actually produced earnings of $0.47, delivering a surprise of -6%.Over the last four quart ...

Exhibit 99.1 Goldman Sachs BDC, Inc. Reports March 31, 2025 Financial Results and Announces Second Quarterly Base Dividend of $0.32 Per Share, Special Dividend of $0.16 Per Share and First Quarter Supplemental Dividend of $0.05 Per Share. Company Release – May 8, 2025 NEW YORK — (BUSINESS WIRE) — Goldman Sachs BDC, Inc. ("GSBD", the "Company", "we", "us", or "our") (NYSE: GSBD) today reported financial results for the first quarter ended March 31, 2025 and filed its Form 10-Q with the U.S. Securities and Ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 814-00998 Goldman Sachs BDC, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 46-2176593 (State or Other Jurisdiction of Incorporation or Organization) (I.R. ...

In this article GSBD Pedestrians walk past an Itau Unibanco Holding SA bank branch in Sao Paulo, Brazil. Patricia Monteiro/Bloomberg | Bloomberg | Getty Images Investors have been piling into emerging market bonds as Treasurys' long-held reputation as a safe haven took a beating following U.S. President Donald Trump's "reciprocal" tariffs. Emerging market local currency bond yields slid by 13 basis points between April 2 — when Trump announced the tariffs — and April 25, according to the most recent data pr ...