Barings BDC, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Barings BDC, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

Barings BDC, Inc. (BBDC) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Barings BDC, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31st. The filing is from the state of North Carolina. The filing was made on May 7, 2024. The SEC file number is 814-00733.

Why It Matters

For investors and stakeholders tracking Barings BDC, Inc., this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Barings BDC, Inc. Understanding the details within this 10-Q is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: low — Barings BDC, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial events or disclosures that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Barings BDC, Inc.'s performance and outlook.

Key Numbers

• 2024-03-31 — Period End Date (The report covers the period ending March 31, 2024.)
• 2024-05-07 — Filing Date (The 10-Q report was filed on this date.)
• 12/31 — Fiscal Year End (The company's fiscal year concludes on December 31st.)
• NC — State of Incorporation (Barings BDC, Inc. is incorporated in North Carolina.)

Key Players & Entities

• Barings BDC, Inc. (company) — Filer of the 10-Q report.
• Triangle Capital CORP (company) — Former name of Barings BDC, Inc.
• North Carolina (location) — State of incorporation and business address.
• 2024-03-31 (date) — Conformed period of report.
• 2024-05-07 (date) — Filing date.
• 0001379785-24-000043 (filing_id) — Accession number for the filing.
• 814-00733 (filing_id) — SEC file number.

FAQ

Industry Context

Barings BDC, Inc. operates as a business development company (BDC), which typically invests in the debt and equity of middle-market companies.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular reporting of financial and operational information to the SEC.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and changes in assets and liabilities.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business performance and strategy.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted from the provided text, no prior filing data is available for comparison.

Key Financial Figures

• $0.001 — ich Registered Common Stock, par value $0.001 per share BBDC The New York Stock Excha

Filing Documents

• bbdc-20240331.htm (10-Q) — 13469KB
• bbdc-3312024xq1ex311.htm (EX-31.1) — 10KB
• bbdc-3312024xq1ex312.htm (EX-31.2) — 10KB
• bbdc-3312024xq1ex321.htm (EX-32.1) — 4KB
• bbdc-3312024xq1ex322.htm (EX-32.2) — 4KB
• 0001379785-24-000043.txt (&nbsp;) — 48572KB
• bbdc-20240331.xsd (EX-101.SCH) — 153KB
• bbdc-20240331_cal.xml (EX-101.CAL) — 57KB
• bbdc-20240331_def.xml (EX-101.DEF) — 1086KB
• bbdc-20240331_lab.xml (EX-101.LAB) — 1157KB
• bbdc-20240331_pre.xml (EX-101.PRE) — 911KB
• bbdc-20240331_htm.xml (XML) — 12234KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Unaudited Consolidated Balance Sheet as of March 31, 2024 and Consolidated Balance Sheet as of December 31, 2023 3 Unaudited Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 4 Unaudited Consolidated Statements of Changes in Net Assets for the Three Months Ended March 31, 2024 and 2023 6 Unaudited Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 7 Unaudited Consolidated Schedule of Investments as of March 31, 2024 8 Consolidated Schedule of Investments as of December 31, 2023 42 Notes to Unaudited Consolidated Financial Statements 74

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 117

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 141

Controls and Procedures

Item 4. Controls and Procedures 143

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 144

Risk Factors

Item 1A. Risk Factors 144

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 144

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 144

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 144

Other Information

Item 5. Other Information 145

Exhibits

Item 6. Exhibits 145

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Barings BDC, Inc. Consolidated Balance Sheets (in thousands, except share and per share data) March 31, 2024 December 31, 2023 (Unaudited) Assets: Investments at fair value: Non-Control / Non-Affiliate investments (cost of $ 2,065,014 and $ 2,053,548 as of March 31, 2024 and December 31, 2023, respectively) $ 2,015,336 $ 1,995,372 Affiliate investments (cost of $ 382,732 and $ 378,865 as of March 31, 2024 and December 31, 2023, respectively) 409,085 402,423 Control investments (cost of $ 103,553 and $ 103,163 as of March 31, 2024 and December 31, 2023, respectively) 103,116 90,920 Total investments at fair value 2,527,537 2,488,715 Cash (restricted cash of $ 13,373 and $ 0 as of March 31, 2024 and December 31, 2023, respectively) 48,777 57,187 Foreign currencies (cost of $ 15,572 and $ 13,023 as of March 31, 2024 and December 31, 2023, respectively) 15,336 13,341 Interest and fees receivable 41,672 51,598 Prepaid expenses and other assets 3,254 3,564 Credit support agreements (cost of $ 58,000 as of both March 31, 2024 and December 31, 2023) 51,450 57,800 Derivative assets 5,011 1 Deferred financing fees 3,490 3,948 Receivable from unsettled transactions 2,159 1,299 Total assets $ 2,698,686 $ 2,677,453 Liabilities: Accounts payable and accrued liabilities $ 2,156 $ 2,950 Interest payable 12,452 8,450 Administrative fees payable 582 536 Base management fees payable 8,279 8,347 Incentive management fees payable 8,167 7,737 Derivative liabilities 3,675 11,265 Payable from unsettled transactions 336 1,112 Borrowings under credit facilities 440,352 719,914 Notes payable (net of deferred financing fees) 1,010,811 720,583 Total liabilities 1,486,810 1,480,894 Commitments and contingencies (Note 7) Net Assets: Common stock, $ 0.001 par value per share ( 150,000,000 shares authorized, 105,951,159 and 106,067,070 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively) 10

View Full Filing

View this 10-Q filing on SEC EDGAR