Golub Capital BDC (NASDAQ:GBDC) Q1 2023 Earnings Conference Call February 9, 2023 1:00 PM ET

Company Participants

David Golub - Chief Executive Officer

Greg Cashman - Head, Direct Lending Group

Matt Benton - Chief Operating Officer

Chris Ericson - Chief Financial Officer

Conference Call Participants

Jordan Wathen - Wells Fargo Securities

Robert Dodd - Raymond James

Ryan Lynch - KBW

Operator

Hello everyone and welcome to GBDC's December 31st 2022 Quarterly Earnings Call. Before we begin, I'd like to take a moment to remind our listeners that remarks made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Statements other than statements of historical facts made during this call may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in GBDC's SEC filings.

For materials we intend to refer to on today's earnings call, please visit the Investor Resources tab on the homepage of our website, which is www.golubcapitalbdc.com and click on the Events Presentations link. Our earnings release is also available on our website in the Investor Resources section. As a reminder this call is being recorded.

With that, I'm pleased to turn the call over to David Golub, Chief Executive Officer of GBDC.

David Golub

Hello everybody, and thanks for joining us today. I'm joined by Chris Ericson, our Chief Financial Officer; Matt Benton, our Chief Operating Officer; and Greg Cashman, who Heads Golub Capital's Direct Lending Group.

For those of you who are new to GBDC, our investment strategy is and since inception, it has been, to focus on providing first lien senior secured loans to healthy, resilient middle-market companies that are backed by strong partnership-oriented private equity sponsors.

Yesterday, we issued our earnings press release for the quarter ended December 31, 2022 and we posted an earnings presentation on our website. We'll be referring to this presentation during the call today. As with last quarter, we're going to follow a new agenda for these calls and that new agenda has me leading off with headlines and with an overview.

Let me start with the headlines. GBDC's performance for the quarter was solid and it was consistent with our discussion last quarter. We saw strong growth in net investment income and generally stable credit trends.