Carlyle Secured Lending Q3 2024 Update

TL;DR

CSL's Q3 2024 10-Q is out, showing investment details. Check it for portfolio performance.

AI Summary

Carlyle Secured Lending, Inc. (CSL) filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial position, including investments in unaffiliated and affiliated issuers. Specific dollar amounts and dates related to these investments are provided within the report.

Why It Matters

This filing provides investors with a detailed look at Carlyle Secured Lending's investment portfolio and financial health as of the end of the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a lending company, Carlyle Secured Lending is exposed to credit risk and market fluctuations inherent in its investment activities.

Key Numbers

• N/A — Total Assets (Specific total asset figures are not readily available in the provided snippet.)
• N/A — Total Liabilities (Specific total liability figures are not readily available in the provided snippet.)
• N/A — Net Income (Specific net income figures are not readily available in the provided snippet.)

Key Players & Entities

• Carlyle Secured Lending, Inc. (company) — Filer
• 2024-09-30 (date) — Reporting Period End Date
• 2024-11-05 (date) — Filing Date
• TCG BDC, INC. (company) — Former Company Name
• Carlyle GMS Finance, Inc. (company) — Former Company Name

FAQ

Key Financial Figures

• $0.01 — ange on Which Registered Common stock, $0.01 par value CGBD The Nasdaq Global Select

Filing Documents

• csl-20240930.htm (10-Q) — 6997KB
• cgbd_2024930x10-qxex311.htm (EX-31.1) — 10KB
• cgbd_2024930x10-qxex312.htm (EX-31.2) — 10KB
• cgbd_2024930x10-qxex321.htm (EX-32.1) — 5KB
• cgbd_2024930x10-qxex322.htm (EX-32.2) — 5KB
• 0001544206-24-000067.txt ( ) — 49153KB
• csl-20240930.xsd (EX-101.SCH) — 92KB
• csl-20240930_cal.xml (EX-101.CAL) — 75KB
• csl-20240930_def.xml (EX-101.DEF) — 801KB
• csl-20240930_lab.xml (EX-101.LAB) — 882KB
• csl-20240930_pre.xml (EX-101.PRE) — 867KB
• csl-20240930_htm.xml (XML) — 8805KB

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements Consolidated Statements of Assets and Liabilities as of September 30, 2024 (unaudited) and December 31, 2023 2 Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 (unaudited) 3 Consolidated Statements of Changes in Net Assets for the nine months ended September 30, 2024 and 2023 (unaudited) 5 Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 (unaudited) 6 Consolidated Schedules of Investments as of September 30, 2024 (unaudited) and December 31, 2023 7

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 34

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 84

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 105

Controls and Procedures

Item 4. Controls and Procedures 106

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 107

Risk Factors

Item 1A. Risk Factors 107

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 110

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 110

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 110

Other Information

Item 5. Other Information 110

Exhibits

Item 6. Exhibits 111

Signatures

Signatures 112 1 CARLYLE SECURED LENDING, INC. CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (amounts in thousands, except share and per share data) September 30, 2024 December 31, 2023 ASSETS (unaudited) Investments, at fair value Investments—non-controlled/non-affiliated, at fair value (amortized cost of $ 1,419,665 and $ 1,586,761 , respectively) $ 1,397,946 $ 1,539,120 Investments—non-controlled/affiliated, at fair value (amortized cost of $ 66,859 and $ 47,037 , respectively) 67,619 53,382 Investments—controlled/affiliated, at fair value (amortized cost of $ 271,097 and $ 271,097 , respectively) 243,972 249,379 Total investments, at fair value (amortized cost of $ 1,757,621 and $ 1,904,895 , respectively) 1,709,537 1,841,881 Cash, cash equivalents and restricted cash 68,669 60,447 Receivable for investments sold 1,156 36 Interest and dividend receivable 30,526 33,725 Prepaid expenses and other assets 7,039 6,489 Total assets $ 1,816,927 $ 1,942,578 LIABILITIES Debt and secured borrowings (Note 8) $ 848,508 $ 980,183 Payable for investments purchased 11,694 — Interest and credit facility fees payable (Note 8) 8,507 8,591 Dividend payable (Note 10) 23,898 22,321 Base management and incentive fees payable (Note 4) 11,693 13,067 Administrative service fees payable (Note 4) 830 2,991 Other accrued expenses and liabilities 5,193 2,613 Total liabilities 910,323 1,029,766 Commitments and contingencies (Notes 9 and 12) NET ASSETS Cumulative convertible preferred stock, $ 0.01 par value; 2,000,000 shares issued and outstanding as of September 30, 2024 and December 31, 2023 50,000 50,000 Common stock, $ 0.01 par value; 198,000,000 shares authorized; 50,848,458 and 50,794,941 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 508 508 Paid-in capital in excess of par value 1,016,658 1,015,681 Offering costs ( 1,633 ) ( 1,633 ) Total distributable earnings (loss) ( 158,929 ) ( 151,744 )

View Full Filing

View this 10-Q filing on SEC EDGAR