Carlyle Secured Lending Reports Q2 Results

By Bobby Samwell • Monday, August 05 08:00 • Permanent Link

Carlyle Secured Lending, Inc. (NASDAQ: CGBD) has released its financial results for the second quarter ended June 30, 2024. The company reported a net investment income of $0.51 per common share for the quarter, and its net asset value per common share decreased by 0.7% to $16.95 from $17.07 as of March 31, 2024. The total fair value of the company's investments was $1.7 billion as of June 30, 2024.

Additionally, on August 1, 2024, the board of directors declared a base quarterly common dividend of $0.40 per share and a supplemental common dividend of $0.07 per share. These dividends are payable on October 17, 2024, to common stockholders of record on September 30, 2024.

Furthermore, the company announced a merger agreement with Carlyle Secured Lending III, which is expected to close during the first fiscal quarter of 2025. As part of the agreement, Carlyle has agreed to exchange its shares of CGBD convertible preferred stock for a number of shares of CGBD common stock.

The company's management expressed optimism about its performance in the second quarter, citing the strong results driven by its core middle-market strategy and active portfolio management.

Carlyle Secured Lending, Inc. is an externally managed specialty finance company focused on lending to middle-market companies. Since its inception in May 2013 through June 30, 2024, the company has invested approximately $8.5 billion in aggregate principal amount of debt and equity investments prior to any subsequent exits or repayments.

Carlyle, the company's adviser, is a global investment firm with $435 billion of assets under management as of June 30, 2024. Carlyle operates across three business segments: global private equity, global credit, and global investment solutions, with a presence in 29 offices across four continents.

The company will host a conference call at 10:00 a.m. EST on Monday, August 5, 2024, to discuss the quarterly financial results, which will be available via a public webcast link on Carlyle Secured Lending's website. The market has reacted to these announcements by moving the company's shares -3.5% to a price of $16.9. Check out the company's full 8-K submission here.

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