BDCs
BDC Quick Recap: Golub Capital BDC 3 as of December 31st, 2022
Golub Capital BDC 3 filed its earnings Friday and data was available in SOLVE’s BDC workstation within minutes. Here is a quick recap of the credit stats for Golub Capital BDC 3 for the three-month period ended Dec. 31st, 2022.
Portfolio Stats
| FMV | $2.4B |
| # of Investments | 1,302 |
| Total unused commitments to extend financing | $239.5M |
| Portfolio Companies | 276 |
| Portfolio Composition | |
| First Lien | 9.6% |
| Second Lien | 0.4% |
| Equity and Other | 90.0% |
Source: SOLVE Fixed Income, Golub Capital BDC 3
New Investments Stats
| New Volume | $104.7M |
| Exits and Sales | $80.5M |
Source: SOLVE Fixed Income, Golub Capital BDC 3
Portfolio Credit Quality
| Non-Accruals Cost | $8.0M |
| # of Non-Accruals | 7 |
| # of Portfolio at Cost | 0.3% |
| New Non-Accruals | Eyecare Services Partners Holdings LLC |
Source: SOLVE Fixed Income, Golub Capital BDC 3
Select New Originations
| Company | Investment Type | Industry | Cost | Maturity | Coupon |
| CST Holding Company | One stop | Electronic Equipment, Instruments and Components | $9.7M | 11/10/2028 | S+675 |
| Celerion Buyer Inc | One stop | Life Sciences Tools & Services | $8.4M | 11/10/2029 | S+650 |
| SureWerx Purchaser III Inc | One stop | Specialty Retail | $8.0M | 12/10/2029 | S+675 |
| Zendesk Inc | One stop | Software | $7.8M | 11/10/2028 | S+650 |
Source: SOLVE Fixed Income, Golub Capital BDC 3
Exits & Sales
| Company | Investment Type | Industry | Net Proceeds | Maturity | Coupon |
| Electrical Source Holdings LLC | Senior loan | Electronic Equipment, Instruments and Components | $15.4M | 11/2/2025 | L+500 |
| Jet Equipment & Tools Ltd | One stop | Specialty Retail | $4.1M | 11/2/2024 | C+575 |
Source: SOLVE Fixed Income, Golub Capital BDC 3
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