Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Q2 2022 Earnings Conference Call August 10, 2022 10:00 AM ET

Company Participants

Daniel Hahn - Head, IR

Linda Pace - CEO

Taylor Boswell - CIO & President

Tom Hennigan - CFO

Conference Call Participants

Finian O'Shea - Wells Fargo Securities

Melissa Wedel - JPMorgan

Operator

Good day, and thank you for standing by. Welcome to the Carlyle Secured Lending Second Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Daniel Hahn. You may begin.

Daniel Hahn

Good morning, and welcome to Carlyle Secured Lending second quarter 2022 earnings call. Last night, we issued a press release and earnings presentation outlining our quarterly results, both of which are available on the Investor Relations section on our website. Following our remarks today, we will hold a question-and-answer session for analysts and institutional investors. This call is being webcast and a replay will be available on our website.

Any forward-looking statements made today do not guarantee future performance and any undue reliance should not be placed on them. These statements are based on current management expectations and involve inherent risks and uncertainties, including those identified in the Risk Factors section of our annual report on Form 10-K that could cause actual results to differ materially from those indicated. Carlyle Secured Lending assumes no obligation to update any forward-looking statements at any time.

With that, I'll turn the call over to our Chief Executive Officer, Linda Pace.

Linda Pace

Thank you, Dan. Good morning, everyone, and thank you all for joining us to discuss another strong quarter of performance. With me on the call today is our President and Chief Investment Officer, Taylor Boswell; and our Chief Financial Officer, Tom Hennigan.

Before we begin, I'd like to highlight a few key themes that you will hear from us throughout today's call. First, we remain committed to our goal of delivering sustainable income by constructing a diversified portfolio of senior secured floating-rate loans to high-quality sponsors and borrowers. Second, we are pleased to announce the increase of our base dividend rate starting in the third quarter. Third, we are well positioned to continue increasing our base dividend over the coming quarters.

Turning now to my usual quarterly remarks, I'll focus on three topics. I'll start with an overview of our second quarter financing results. Next, I'll touch on our credit performance and investment activity, and finally, I'll conclude with a few thoughts on how we are approaching the current investment environment. We generated solid net investment income of $0.40 per share despite our LIBOR floors limiting the earnings benefit from higher base rates during the quarter.