Carlyle Secured Lending (CGBD) Company Report

CGBD reported Net Investment Income per common share of $0.37 (GAAP) and $0.38 (Adjusted) for Q3 2025.
Net Asset Value (NAV) per share was $16.36 as of September 30, 2025.
A quarterly dividend of $0.40 was declared for 4Q25, supported by an estimated $0.86 per share in spillover income.
The total fair value of the investment portfolio increased to $2.4 billion across 158 portfolio companies as of September 30, 2025, with a weighted average yield of 10.6%.
In October 2025, CGBD issued $300.0 million in 5.75% unsecured notes due 2031 and announced the redemption of $85.0 million of 8.20% 2028 Notes, which is expected to lower the weighted average cost of borrowing by 10 bps and extend the maturity profile.

Nov 5, 2025, 4:00 PM

Carlyle Secured Lending Reports Q3 2025 Earnings and Declares Q4 Dividend

CGBD

Earnings

Dividends

New Projects/Investments

Carlyle Secured Lending reported net investment income of $0.37 per share on a GAAP basis and $0.38 per share after adjusting for asset acquisition accounting for Q3 2025, with Net Asset Value (NAV) at $16.36 per share as of September 30, 2025.
The board of directors declared a fourth-quarter dividend of $0.40 per share, payable to stockholders of record as of December 31st.
CGBD funded $260 million of investments during the quarter, resulting in net investment activity of $117 million and increasing total investments to $2.4 billion. Non-accruals decreased to 1.6% of total investments at cost and 1% at fair value as of September 30, 2025.
The company optimized its capital structure by raising a new five-year, $300 million institutional unsecured bond and repaying higher-priced facilities, which is expected to lower the weighted average cost of borrowing by 10 basis points.
Strategic initiatives include growing the existing MMCF joint venture (with an upsized credit facility to $800 million and increased equity commitments to $250 million each) and advancing discussions for a potential second joint venture with a different investment strategy, though these are expected to impact earnings in the longer term.

Nov 5, 2025, 4:00 PM

Carlyle Secured Lending, Inc. Announces Q3 2025 Financial Results and Q4 2025 Dividend

CGBD

Earnings

Dividends

Debt Issuance

Carlyle Secured Lending, Inc. reported Net Investment Income of $0.37 per common share and Adjusted Net Investment Income of $0.38 per common share for the third quarter ended September 30, 2025.
The Board of Directors declared a fourth-quarter 2025 dividend of $0.40 per common share, payable on January 16, 2026, to common stockholders of record on December 31, 2025.
Net asset value per common share decreased by 0.4% to $16.36 as of September 30, 2025, from $16.43 as of June 30, 2025, while the total fair value of investments increased to $2.4 billion as of September 30, 2025.
Post-quarter-end, the company issued $300.0 million in 5.75% unsecured notes due 2031 and announced the redemption of $85.0 million of 8.20% 2028 Notes on December 1, 2025.

Nov 4, 2025, 9:03 PM

Carlyle Secured Lending, Inc. Announces Redemption of 8.20% Notes Due 2028

CGBD

Debt Issuance

Delisting/Listing Issues

Carlyle Secured Lending, Inc. announced its intent to redeem all outstanding $85,000,000 aggregate principal amount of its 8.20% Notes due 2028.
The redemption date is scheduled for December 1, 2025, with the redemption price set at 100% of the principal amount plus accrued and unpaid interest.
In connection with this redemption, the 2028 Notes will be delisted from the Nasdaq Global Select Market.

Oct 31, 2025, 8:20 PM

Carlyle Secured Lending, Inc. Issues $300 Million in 5.750% Notes Due 2031

CGBD

Debt Issuance

New Projects/Investments

Carlyle Secured Lending, Inc. issued $300,000,000 aggregate principal amount of 5.750% Notes due 2031 on October 7, 2025.
The Notes will mature on February 15, 2031, and bear interest at 5.750% per year, payable semi-annually starting February 15, 2026.
The company intends to use the net proceeds to repay outstanding debt, fund new investment opportunities, and for general corporate purposes.
These Notes are direct unsecured obligations and rank pari passu with all existing and future unsubordinated unsecured indebtedness.

Oct 9, 2025, 8:55 PM

Carlyle Secured Lending, Inc. Announces $300 Million Notes Offering

CGBD

Debt Issuance

Carlyle Secured Lending, Inc. entered into an underwriting agreement on September 30, 2025, for the issuance and sale of $300,000,000 aggregate principal amount of 5.750% Notes due 2031.
The Notes were priced to the public at 99.432% of the principal amount, resulting in a yield to maturity of 5.877%.
The closing of the offering is expected to occur on October 7, 2025.