Portfolio Composition and Credit Quality - As of December 31, 2023, 97.2% of the investment portfolio was comprised of senior secured debt, with 95.3% in first lien investments[21] - Investments on non-accrual status represented 2.3% of the total investment portfolio at fair value and 3.8% at amortized cost as of December 31, 2023[31] - The company's total investments at fair value were $3,414.3 million as of December 31, 2023[21] - The company had $307.5 million in unfunded commitments as of December 31, 2023[43] Financial Performance - Net asset value (NAV) per share increased by 0.07% to $14.62 as of December 31, 2023, from $14.61 as of September 30, 2023[21] - Net investment income per share for the quarter ended December 31, 2023, was $0.56, and adjusted net investment income per share was $0.55[20] - Earnings per share for the quarter ended December 31, 2023, was $0.46[20] - The company's ending net debt to equity ratio was 1.11x as of December 31, 2023[22] Investment Activity - The company made new investment commitments of $166.2 million during the quarter ended December 31, 2023, all of which were first lien investments[21, 27] - Sales and repayments totaled $224.0 million for the quarter[21, 27] Debt Structure - As of December 31, 2023, 46.9% of the company's $1,832.2 million total principal amount of debt outstanding was in unsecured debt and 53.1% in secured debt[22] - The company's debt includes $972 million in a revolving credit facility, $360 million in 2025 notes, and $500 million in 2026 notes[50]

[Goldman Sachs BDC, Inc. Q4 2023 Financial Results](index=1&type=section&id=Goldman%20Sachs%20BDC%2C%20Inc.%20Q4%202023%20Financial%20Results) [Quarterly Highlights & Financial Summary](index=1&type=section&id=Quarterly%20Highlights%20%26%20Financial%20Summary) The company reported Q4 net investment income of $0.56 per share, a slight NAV increase, and an improved net debt-to-equity ratio Selected Financial Highlights (as of Q4 2023 vs Q3 2023) | (in $ millions, except per share data) | As of December 31, 2023 | As of September 30, 2023 | | :--- | :--- | :--- | | Investment portfolio, at fair value | $3,414.3 | $3,438.7 | | Total debt outstanding | $1,832.2 | $1,884.5 | | Net assets | $1,601.8 | $1,600.6 | | Net asset value per share | $14.62 | $14.61 | | Ending net debt to equity | 1.11x | 1.13x | Quarterly Operating Results (Q4 2023 vs Q3 2023) | (in $ millions, except per share data) | Three Months Ended December 31, 2023 | Three Months Ended September 30, 2023 | | :--- | :--- | :--- | | Total investment income | $115.4 | $120.1 | | Net investment income after taxes | $61.8 | $72.9 | | Adjusted net investment income after taxes | $60.7 | $69.7 | | Net investment income per share | $0.56 | $0.67 | | Adjusted net investment income per share | $0.55 | $0.64 | - The Board of Directors declared a regular first quarter 2024 dividend of **$0.45 per share**, payable on April 26, 2024, to shareholders of record as of March 28, 2024[4](index=4&type=chunk)[18](index=18&type=chunk) - Net asset value (NAV) per share increased by **0.07% to $14.62** in Q4 2023 from $14.61 in Q3 2023[4](index=4&type=chunk) [Investment Portfolio Analysis](index=2&type=section&id=Investment%20Portfolio%20Analysis) The $3.41 billion portfolio is concentrated in senior secured debt, with a 13.8% weighted average yield and a slight increase in non-accrual investments [Investment Activity](index=2&type=section&id=Investment%20Activity) Q4 saw $166.2 million in new commitments and $224.0 million in sales and repayments, resulting in a net portfolio decrease Investment Activity for Q4 2023 ($ Millions) | Investment Type | New Investment Commitments | % of Total | Sales and Repayments | % of Total | | :--- | :--- | :--- | :--- | :--- | | 1st Lien/Senior Secured Debt | $136.5 | 82.1% | $179.8 | 80.3% | | 1st Lien/Last-Out Unitranche | $29.7 | 17.9% | $0.1 | — | | 2nd Lien/Senior Secured Debt | — | — | $36.9 | 16.5% | | Preferred Stock | — | — | $7.1 | 3.2% | | Common Stock | — | — | $0.1 | — | | **Total** | **$166.2** | **100.0%** | **$224.0** | **100.0%** | - Net funded portfolio change for the quarter was a **decrease of $34.0 million**, resulting from $190.0 million in total fundings and $224.0 million in sales and repayments[4](index=4&type=chunk) - New investment commitments were made to fourteen new and four existing portfolio companies, while sales and repayments were primarily driven by the **full exit of seven portfolio companies**[7](index=7&type=chunk) [Portfolio Composition and Quality](index=3&type=section&id=Portfolio%20Composition%20and%20Quality) The portfolio remains concentrated in senior secured debt with a 13.8% yield, while non-accrual investments rose slightly to 2.3% of fair value Portfolio Composition by Investment Type (as of Dec 31, 2023) | Investment Type | $ Millions (Fair Value) | % of Total | | :--- | :--- | :--- | | 1st Lien/Senior Secured Debt | $3,107.5 | 91.1% | | 1st Lien/Last-Out Unitranche | $144.7 | 4.2% | | 2nd Lien/Senior Secured Debt | $66.5 | 1.9% | | Unsecured Debt | $27.3 | 0.8% | | Preferred Stock | $37.3 | 1.1% | | Common Stock | $30.7 | 0.9% | | **Total** | **$3,414.3** | **100.0%** | Selected Portfolio Metrics | | As of Dec 31, 2023 | As of Sep 30, 2023 | | :--- | :--- | :--- | | Number of portfolio companies | 144 | 137 | | W.A. yield on debt investments (fair value) | 13.8% | 13.3% | | W.A. leverage (net debt/EBITDA) | 6.1x | 5.9x | | W.A. interest coverage | 1.5x | 1.5x | | Median EBITDA | $53.98 million | $50.22 million | - As of December 31, 2023, non-accrual investments were **2.3% of the portfolio at fair value** and 3.8% at amortized cost[4](index=4&type=chunk)[9](index=9&type=chunk) - The investment portfolio is comprised of **97.2% senior secured debt**, which includes 95.3% in first lien investments[4](index=4&type=chunk) [Liquidity and Capital Resources](index=3&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained significant liquidity with $1.83 billion in total debt and an improved net debt-to-equity ratio of 1.11x - Total principal debt outstanding was **$1,832.2 million**, composed of $972.2 million from the Revolving Credit Facility and $860.0 million in unsecured notes[10](index=10&type=chunk) - As of December 31, 2023, the company had **$724.1 million of availability** under its Revolving Credit Facility and $52.4 million in cash[10](index=10&type=chunk) - The net debt-to-equity leverage ratio **decreased to 1.11x** as of December 31, 2023, compared to 1.13x at the end of the previous quarter[4](index=4&type=chunk)[10](index=10&type=chunk) - The combined weighted average interest rate on debt outstanding was **5.45% for Q4 2023**[10](index=10&type=chunk) [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) Net assets grew to $1.60 billion, driven by a significant increase in total investment income and net assets from operations for FY2023 [Consolidated Statements of Assets and Liabilities](index=6&type=section&id=Consolidated%20Statements%20of%20Assets%20and%20Liabilities) Total net assets increased to $1.60 billion year-over-year, as a significant decrease in liabilities offset a slight decline in total assets Consolidated Balance Sheet Summary (in thousands) | | December 31, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Total investments, at fair value | $3,414,329 | $3,506,216 | | **Total assets** | **$3,522,819** | **$3,591,311** | | Debt (net of issuance costs) | $1,826,794 | $2,012,660 | | **Total liabilities** | **$1,920,994** | **$2,088,917** | | **Total net assets** | **$1,601,825** | **$1,502,394** | | Net asset value per share | $14.62 | $14.61 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) FY2023 total investment income grew 27% to $454.9 million, driving a substantial rebound in net increase in net assets from operations Consolidated Income Statement Summary (in thousands) | For the Years Ended December 31, | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | **Total investment income** | **$454,914** | **$357,452** | **$346,980** | | Net expenses | $202,831 | $124,428 | $108,322 | | **Net investment income after taxes** | **$247,241** | **$228,571** | **$237,375** | | Net realized and unrealized gains (losses) | $(50,732) | $(173,329) | $(44,592) | | **Net increase in net assets from operations** | **$195,874** | **$55,003** | **$192,427** | | Basic and diluted earnings (loss) per share | $1.81 | $0.54 | $1.89 | [Corporate Information and Conference Call](index=3&type=section&id=Corporate%20Information%20and%20Conference%20Call) The company, a BDC focused on U.S. middle-market lending, will host its Q4 2023 earnings call on February 29, 2024 - GSBD is a business development company managed by Goldman Sachs Asset Management, L.P., focusing on generating current income and capital appreciation by investing in **U.S. middle-market companies**[22](index=22&type=chunk) - The company's primary investment strategy involves direct originations of **secured debt**, including first lien, first lien/last-out unitranche, and second lien debt[22](index=22&type=chunk) - An earnings conference call is scheduled for **Thursday, February 29, 2024, at 9:00 am Eastern Time** to discuss the financial results[11](index=11&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 | (I.R.S. Employer ...

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 September 30, 2023 or UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ 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) 2 ...

Management Goldman Sachs BDC, Inc. Investor Presentation QUARTER ENDED JUNE 30, 2023 WWW.GOLDMANSACHSBDC.COM Disclaimer and Forward-Looking Statement The information contained in this presentation should be viewed in conjunction with the earnings conference call of Goldman Sachs BDC, Inc. ("GSBD" or the "Company") (NYSE: GSBD) held on August 4, 2023 and the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. The information contained herein may not be used, reproduced or distributed ...

Start Time: 09:00 January 1, 0000 9:22 AM ET Goldman Sachs BDC (NYSE:GSBD) Q2 2023 Earnings Conference Call August 04, 2023, 09:00 AM ET Company Participants Alex Chi - Co-CEO and Co-President David Miller - Co-CEO and Co-President Tucker Greene - COO David Pessah - CFO, Treasurer and Principal Financial Officer Austin Neri - IR Conference Call Participants Derek Hewett - Bank of America Merrill Lynch Maxwell Fritscher - Truist Securities Sean-Paul Adams - Raymond James Austin Neri Good morning. This is Aus ...

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 June 30, 2023 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) 200 We ...

Quarter Ended March 31, 2023 NII: $0.46 Net Realized & Unrealized Gain: $(0.21) $14.61 $0.45 $0.01 $(0.45) $(0.01) $(0.20) $0.03$14.44 $14.44 Q4' 22 Ending Book NAV Q1' 23 Adjusted Net Investment Income Q1' 23 Purchase Discount Amortization Q1' 23 Distribution Q1' 23 Realized/Unrealized Purchase Discount Q1' 23 Adjusted Net Change Realized & Unrealized Secondary Offering Proceeds (net underwriting and offering costs) Q1' 23 Ending Book NAV March 31, 2023 NAV is based on March 31, 2023 shares outstanding as ...

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, 2023 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) 200 W ...

Goldman Sachs BDC (NYSE:GSBD) Q4 2022 Earnings Conference Call February 24, 2023 9:00 AM ET Company Participants Austin Neri - Investor Relations Alex Chi - Co-Chief Executive Officer David Miller - Co-Chief Executive Officer David Pessah - Chief Financial Officer Gabriella Skirnick - Chief Operating Officer Austin Neri Good morning. This is Austin Neri, a member of the Investor Relations team for Goldman Sachs BDC, Inc. and I would like to welcome everyone to the Goldman Sachs BDC, Inc. Fourth Quarter and ...