财务数据和关键指标变化 - 净资产价值(NAV)为11.44美元,较上一季度增加1.4%,为过去两年来最高水平 [11] - 净投资收益为0.28美元,超过季度股息0.26美元7.6% [16] - 不良贷款率仅为0.3%,处于行业领先水平,较2023年12月31日的1.5%大幅下降 [12][15] 各条业务线数据和关键指标变化 - 投资组合规模净增加2300万美元,新增投资1.42亿美元,偿还1.19亿美元 [27] - 投资组合中72%为担保投资,66%为一级抵押贷款 [32] - 加权平均利息覆盖率为2.2倍,处于2-2.25倍的目标区间 [33] - 投资组合行业多元化,前10大头寸占比22.6% [35] 各个市场数据和关键指标变化 - 新并购交易转化率趋于历史低位,但再融资活动有所增加 [29][30][31] - 大型发行人的融资条件趋于广义信贷市场,公司将专注于中型市场以保持定价优势 [32] - 投资组合中位毛利率为50%,较上年上升2个百分点,反映发行人能够应对通胀压力 [34] 公司战略和发展方向及行业竞争 - 公司将继续执行以担保、赞助商支持的投资为主的策略 [10] - 将逐步减少非Barings发起的资产,目前仅占11%,并通过信用支持协议限制下行风险 [13][14] - 计划增加经验丰富的投资专业人才,以增强原始市场关系和信用分析能力 [21][61] - 母公司MassMutual将继续积极投资中型直接借贷领域,体现其对资产类别和公司能力的信心 [22] 管理层对经营环境和未来前景的评论 - 尽管经济环境不确定,但公司的投资组合质量和盈利能力仍保持良好 [12][16] - 预计未来几个季度将保持强劲的业绩表现 [16] - 公司有信心应对任何进一步的市场波动和不确定性 [13] - 虽然部分高级投资团队离职,但公司的投资流程和理念保持不变,并将继续保持稳定的投资能力 [24] 问答环节重要的提问和回答 问题1 **Finian O'Shea 提问** 询问公司是否暂停了对Jocassee Partners的投资 [58] **Eric Lloyd 回答** 公司与Jocassee Partners的关系保持良好,将继续作为公司的重要合作伙伴 [59] 问题2 **Kyle Joseph 提问** 询问本季度投资收益下降的原因 [66] **Elizabeth Murray 回答** 主要是由于资金部署和赎回的时间性因素,以及Eclipse和Sierra JV的股息收入下降所致 [68][69] 问题3 **Robert Dodd 提问** 询问新并购交易转化率下降的原因 [79] **Matt Freund 回答** 主要是由于买卖双方对估值存在分歧,买方资金成本上升导致的预期差异 [80][81]

MAY 8, 2024 Barings BDC, Inc. First Quarter 2024 Earnings Presentation Disclaimers & Cautionary Notice Regarding Forward-Looking Statements Cautionary Notice: Certain statements contained in this presentation are "forward-looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs, and which are subject to risks and uncertai ...

Barings BDC (BBDC) came out with quarterly earnings of $0.28 per share, missing the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -6.67%. A quarter ago, it was expected that this business development company would post earnings of $0.30 per share when it actually produced earnings of $0.31, delivering a surprise of 3.33%. Over the last four quar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ Form 10-Q __________________________________________________________ (Mark One) ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ¨ EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00733 ____ ...

Exhibit 99.1 BARINGS BDC, INC. REPORTS FIRST QUARTER 2024 RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.26 PER SHARE CHARLOTTE, N.C., May 7, 2024 - Barings BDC, Inc. (NYSE: BBDC) (“Barings BDC” or the “Company”) today reported its financial and operating results for the first quarter of 2024 and announced that the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.26 per share. Highlights Three Months Ended Three Months Ended Income Statement March 31, 2024 December 31 ...

5 New Stocks Under $10 That Pay Incredible Ultra Yield Dividends Shutterstock / tech_BG While Most of Wall Street focuses on large and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy. Many of the most significant public companies, especially the technology giants, trade at prices up to $1000 per share, while many are in the low to mid- hundreds. It’s hard to get decent share count leverage at those steep prices. Many investor ...

The Zacks SBIC & Commercial Finance industry will continue to benefit from favorable regulatory changes and decent demand for personalized financing solutions. However, gradual deterioration in asset quality because of prolonged high rates and economic slowdown will hurt industry players’ financials. Increased competition and portfolio companies’ difficulty in servicing debt are other major headwinds being faced by the industry. Yet, a few names, like Bain Capital Specialty Finance, Inc. (BCSF) , Barings BD ...

In the stock market, everyone seeks hidden treasures and high-return opportunities. The exertion for under-$10 stocks with dividends often yields progressive results. These three solid contenders, each wielding unique strategies and strengths, defy conventionalism. On the list, the first one emerges as a raptor in asset management, suggesting portfolio growth with resilience amidst market ups and downs. The company has a penchant for equity co-investments. Its edge in deal sourcing and execution builds a pa ...

财务数据和关键指标变化 - 净资产价值(NAV)为每股11.28美元,较上季度增加0.3%,较2022年12月31日增加2.1% [36] - 净投资收益为每股0.31美元,与上季度持平 [37] - 公司宣布第四季度每股0.26美元的股息,年化收益率为9.2% [16][45] 各条业务线数据和关键指标变化 - 投资组合规模减少5100万美元,新增投资1.92亿美元,偿还和出售2.44亿美元 [20] - 投资组合中有74%为担保投资,67%为一级担保证券 [26] - 利息覆盖率为2.2倍,较上季度略有下降 [26] - 组合中风险评级4和5的资产占比为7%,较上季度持平 [32] 各个市场数据和关键指标变化 - 由于利率上升和经济不确定性,私募股权交易活动仍然较为低迷 [20][21][25] - 但预计未来几个季度交易活动将有所增加,因为投行有大量待售项目积压,私募股权公司需要向有限合伙人分配资金 [23][24] - 组合中的平均毛利率为49%,较上年同期上升4个百分点,反映发行人能够通过提价应对通胀压力 [28] - 调整后EBITDA利润率为22%,较上年同期上升1个百分点,工资涨幅抵消了部分毛利率扩张 [29] 公司战略和发展方向及行业竞争 - 公司将继续执行从非核心资产中退出的承诺,包括清理MVC Capital和Sierra Income的遗留资产 [8] - 非Barings原始投资资产已降至组合的11%,下降幅度较大 [13] - 公司将继续保持谨慎的股息政策,并利用股票回购计划为股东创造价值 [44][45] - 公司将继续专注于中等市场的信贷投资,利用Barings的全球资源和规模优势选择风险收益配比较好的投资 [34] 管理层对经营环境和未来前景的评论 - 尽管宏观环境存在不确定性,但公司的投资组合以担保和高级证券为主,在这种环境下表现良好 [10] - 预计利率上升的影响已基本反映在投资组合中,浮动利率投资的加权平均收益率稳定在11.2% [16] - 公司有信心即使在正常化的利率环境下,也能维持稳定的股息政策 [47] - 公司认为未来交易活动将有所增加,但也面临一些不确定因素,如地缘政治冲突、持续高通胀和即将到来的政治周期 [25] 问答环节重要的提问和回答 问题1 **Finian O'Shea提问** 如果交易活动持续低迷,公司是否准备接管一些公司,并能否有效管理这些公司? [51] **Ian Fowler回答** 公司有经验在必要时接管公司并出售,内部有100多人的大团队可以应对这种情况。但公司不希望走到这一步,除非实在没有其他选择。[52][53][54][55][56][57][58] 问题2 **Kyle Joseph提问** 竞争环境如何变化,利差水平有何变化? [66] **Ian Fowler回答** 由于交易活动低迷,竞争加剧,但公司仍能获得上单位数的收益率。随着市场正常化,预计利差会有所收缩,回归历史水平。[67][68][69][70][71] 问题3 **Robert Dodd提问** 公司获得的Core Scientific股票如何处置,是否会逐步减持非收益性股权投资? [79] **Bryan High回答** 公司希望最大化Core Scientific股票的回收价值,但这不是公司的长期策略。未来4个季度内,公司计划将非核心资产占比从8%降至4%-5%。[80][81][82][83][84]

Barings BDC (BBDC) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.30 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 3.33%. A quarter ago, it was expected that this business development company would post earnings of $0.31 per share when it actually produced earnings of $0.31, delivering no surprise. Over the last four quarters, the ...