Golub Capital(US:GBDC)2022-02-10 20:39Financial Performance - Net investment income per share remained stable at $0.27 for the quarter ended December 31, 2021, compared to the previous quarter[7, 17] - Adjusted net investment income per share increased slightly to $0.31 from $0.30 in the prior quarter[7, 17] - Net asset value (NAV) per share increased to $15.26 as of December 31, 2021, from $15.19 at the end of the prior quarter[7, 14, 17] - Total investments at fair value increased by approximately 5.1%, or $251.9 million, during the quarter ended December 31, 2021[19] - The company's IPO investors have achieved a 10.0% IRR on NAV since 2010[45] Portfolio Composition and Credit Quality - Non-accrual investments remained low, representing 1.2% of total debt investments at cost and 0.9% at fair value as of December 31, 2021[26] - Risk rated "3" investments decreased to 6.6% of the portfolio at fair value as of December 31, 2021, from 8.1% as of September 30, 2021[29] - The investment portfolio totaled $5.147 billion with 301 investments, averaging less than 0.3% of the portfolio[23] - The portfolio is heavily weighted towards first lien investments, comprising 82% of the portfolio[23] Liquidity and Debt Structure - Unrestricted cash and cash equivalents totaled $182.7 million as of December 31, 2021[47] - The company had approximately $809.4 million of remaining commitments and availability on its revolving credit facilities with Morgan Stanley and JPMorgan[47] - The company issued an additional $200.0 million of 2026 Unsecured Notes at a fixed interest rate of 2.500% and an additional $100.0 million of 2024 Unsecured Notes at a fixed interest rate of 3.375%[47]