BDCs
BDC Quick Recap: Golub Capital (GBDC) as of December 31st, 2022
Golub Capital (GBDC) filed its earnings yesterday and data was available in SOLVE’s BDC workstation within minutes. Here is a quick recap of the credit stats for Golub Capital (GBDC) for the three-month period ended Dec. 31st, 2022.
Portfolio Stats
| FMV | $5.5B |
| # of Investments | 1,549 |
| Total unused commitments to extend financing | $200.2M |
| Portfolio Companies | 332 |
| Portfolio Composition | |
| First Lien | 9.3% |
| Second Lien | 0.5% |
| Equity, Unitranche and Other | 90.2% |
Source: SOLVE Fixed Income, Golub Capital (GBDC)
New Investments Stats
| New Volume | $247.0M |
| Exits and Sales | $253.8M |
Source: SOLVE Fixed Income, Golub Capital (GBDC)
Portfolio Credit Quality
| Non-Accruals Cost | $145.6M |
| # of Non-Accruals | 31 |
| # of Portfolio at Cost | 2.6% |
| New Non-Accruals | Eyecare Services Partners Holdings, Abita Brewing |
Source: SOLVE Fixed Income, Golub Capital (GBDC)
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
| Celerion Buyer Inc | One stop | Life Sciences Tools & Services | $21.0M | 11/8/2029 | S+650 |
| SureWerx Purchaser III Inc | One stop | Specialty Retail | $20.2M | 12/8/2029 | S+675 |
| Zendesk Inc | One stop | Software | $19.6M | 11/8/2028 | S+650 |
| Avalara Inc | One stop | Diversified Financial Services | $11.7M | 10/8/2028 | S+725 |
Source: SOLVE Fixed Income, Golub Capital (GBDC)
Exits & Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
| Electrical Source Holdings LLC | One stop | Electronic Equipment, Instruments & Components | $75.7M | 11/22/2025 | L+500 |
| Jet Equipment & Tools Ltd | One stop | Specialty Retail | $17.8M | 11/22/2024 | C+575 |
| Wetzel’s Pretzels LLC | One stop | Food & Staples Retailing | $14.7M | 9/22/2023 | L+650 |
Source: SOLVE Fixed Income, Golub Capital (GBDC)
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