Carlyle Secured Lending(US:CGBD)2024-08-05 13:11Q2 2024 Performance Highlights - Net investment income per share was $0.51, representing 128% of the base dividend of $0.40 per share[8] - NAV per share decreased by 0.7% to $16.95, compared to $17.07 in 1Q24, primarily due to net unrealized depreciation from watchlist names[8] - A base dividend of $0.40 plus a $0.07 supplemental dividend for 3Q24 was declared, equating to an annualized dividend yield of 11.1% on the 2Q24 NAV[8] Portfolio & Investment Activity - Total fair value of the portfolio was $1.7 billion across 126 portfolio companies, with a weighted average yield of 12.7%[8] - New investment fundings during the quarter were $84.8 million with a weighted average yield of 12.7%, while total repayments and sales were $135.9 million with a weighted average yield of 12.7%[8] - Non-accrual investments represented 2.8% of the total portfolio based on amortized cost and 1.8% based on fair value as of 2Q24[8] Liquidity & Capital Activity - Net financial leverage decreased to 0.90x, at the low end of the target range, and total liquidity at 2Q24 was $399.1 million in cash and undrawn debt capacity[8] - The company entered into a Merger Agreement with Carlyle Secured Lending III, subject to CGBD stockholder approval[8] Portfolio Composition - As of June 30, 2024, first lien debt accounted for 70.9% of the total investment portfolio by asset type[11] - Senior secured exposure was 94% of the portfolio[12]