Barings BDC, Inc. (NYSE:BBDC) Q2 2022 Earnings Conference Call August 10, 2022 9:00 AM ET
Company Participants
Eric Lloyd - Chairman & CEO
Ian Fowler - President
Jonathan Bock - CFO
Bryan High - VP
Conference Call Participants
Kyle Joseph - Jefferies
Finian O'Shea - Wells Fargo Securities
Casey Alexander - Compass Point Research & Trading
Robert Dodd - Raymond James & Associates
Operator
At this time, I would like to welcome everyone to the Barings BDC, Inc. conference call for the quarter ended June 30, 2022. [Operator Instructions]. Today's call is being recorded, and a replay will be available approximately 2 hours after the conclusion of the call on the company's website at www.baringsbdc.com under the Investor Relations section.
Please note that this call may contain forward-looking statements that include statements regarding the company's goals, beliefs, strategies, future operating results and cash flows. Although the company believes these statements are reasonable, actual results could differ materially from those projected in forward-looking statements. These statements are based on various underlying assumptions, and are subject to numerous uncertainties and risks including those disclosed under the sections titled Risk Factors and Forward-Looking Statements in the company's annual report on the Form 10-K for the fiscal year ended December 31, 2021, and the quarterly report on Form 10-Q for the quarter ended June 30, 2022, each as filed with the Securities and Exchange Commission. Barings BDC undertakes no obligation to update or revise any forward-looking statements unless required by law.
At this time, I will turn the call over to Eric Lloyd, Chief Executive Officer of Barings BDC.
Eric Lloyd
Thank you, operator, and good morning, everyone. We appreciate you joining us for today's call. Please note that throughout today's call, we'll be referring to our second quarter 2022 earnings presentation that is posted on the Investor Relations section of our website.
On the call today, I'm joined by Barings BDC's President and Co-Head of Global Private Finance, Ian Fowler; Bryan High, Baring's Head of Capital Solutions and Co-Portfolio Manager; and the BDC's Chief Financial Officer, Jonathan Bock. As we typically do, Ian, Bryan and John will review details of our portfolio and second quarter results in a moment, but I'll start off with some high-level comments about the quarter.
Let's begin with the market backdrop shown on Slide 5 of the presentation. With significant economic uncertainty, Barings syndicated loan spreads increased due to increased macroeconomic fears tied to both underlying inflation and the potential of a Fed overcorrection. Loan prices broadly and BDC equity prices specifically were also not immune from increasing risk premiums, down 4% and 9% from the end of Q1 through July 31, respectively.