Financial Performance - The Board of Directors approved a fourth quarter 2025 dividend of $0.26 per share[25] - Net investment income for the quarter ended September 30, 2025, was $0.32 per share[25] - Net asset value (NAV) as of September 30, 2025, was $11.10 per share, compared to $11.18 per share as of June 30, 25, a decrease of 0.8%[25, 60] - Total investment income was $72.4 million[27] - Net income was $23.6 million[27] Portfolio Composition and Performance - Total originations during the quarter were $149 million, while sales and repayments totaled $230 million, for net repayments of $81 million[25] - The weighted-average portfolio yield as of September 30, 2025, was 9.9%[25] - The investment portfolio at fair value was $2,536.3 million[27] - Non-accruals represented 0.4% of the total portfolio at fair value[25] - First lien investments accounted for 70% of the portfolio[30] - Sponsored investments accounted for 78% of the portfolio[35]

Financial Performance - Barings BDC's net asset value (NAV) as of June 30, 2025, was $11.18 per share, compared to $11.29 per share as of March 31, 2025, representing a 1.0% decrease[26] - The Board of Directors approved a third quarter 2025 regular dividend of $0.26 per share, along with a previously declared special dividend of $0.05 per share[26] - Net investment income for the quarter ended June 30, 2025, was $0.28 per share[26] Portfolio Composition and Activity - Total originations during the quarter were $199 million, while sales and repayments totaled $167 million, resulting in net originations of $32 million[26] - The weighted-average portfolio yield as of June 30, 2025, was 10.1%[26] - Total non-accruals represented 0.5% of the total portfolio at fair value[26] - Sponsored and Non-Sponsored corporate issuers accounted for 86% of the BBDC portfolio as of June 30, 2025[35] - The top issuer accounted for 5.9% of exposure, and the top 10 issuers accounted for 23.4% of the portfolio as of June 30, 2025[37] - Approximately 84% of the portfolio is comprised of secured assets, considering the look-through exposure of investments in Eclipse and Rocade[38] Capital Structure and Liquidity - Debt-to-equity as of June 30, 2025, was 1.34x, or 1.29x after adjusting for unrestricted cash and foreign currencies and net unsettled transactions[64] - Barings LLC made a $23 million payment during 2Q25 related to the MVC CSA termination[56] - Barings manages over $50 billion in direct lending platform[13]