Goldman Sachs BDC, Inc Stock News

14 BDCs have base dividend coverage levels between 100% and 105%. 16 BDCs have them already below 100%. Given the unfavorable future earnings outlook, a system-wide BDC dividend cutting process is very likely to start quite soon.

BDCs have two issues: 1) almost no margin of safety for dividend coverage, and 2) depressed earnings outlook. For many players it is just a matter of several quarters before they become forced to cut dividends. Yet, there are many arguments, which negate such a view. Unfortunately, many of them ar myths.

We take a look at the action in business development companies through the first week of September and highlight some of the key themes we are watching. BDCs saw a slight decline this week, with sector valuations near long-term averages. Bond issuance is rising as BDCs refinance maturing debt, shift from floating-rate credit facilities, and capitalize on attractive borrowing rates.

Goldman Sachs BDC has reduced its non-accrual percentage by 0.3 PP in Q2'25, improving balance sheet quality and setting the stage for potential NAV/share price convergence. Despite a change in the dividend composition earlier this year, regular payouts remain well covered by net investment income, and supplemental dividends offer upside as portfolio performance improves. While GSBD has an infe...

NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (the “Company”) (NYSE: GSBD) announced today that it has priced an offering of $400 million aggregate principal amount of 5.650% notes due 2030 (the “2030 Notes”). The 2030 Notes will mature on September 9, 2030 and may be redeemed in whole or in part at the Company's option at any time at par plus a “make-whole” premium, if applicable. The Com...

The BDC sector faces mounting risks from a weakening economy, high consumer debt, and the potential for further dividend cuts as interest rates decline. Recent dividend cuts by several BDCs highlight the sector's vulnerability, despite some names maintaining resilience and attractive valuations. Spillover income offers only limited protection; tight dividend coverage and rising non-accruals sig...

Richard Kim was indicted on securities and wire fraud charges related to alleged misappropriation of about $4 million in investor funds for his start-up online casino company, Zero Edge. Kim, who previously was an executive at Goldman Sachs and JPMorgan Chase, lost most of that money within a week through gambling on another site, court filings state.

Q2 earnings confirmed my call for a market rotation in BDCs; quality bias and selectivity remain critical for outperformance. Structural headwinds—spread compression, falling base rates, and thin dividend coverage—signal elevated risk of further dividend cuts across the sector. Current sector repricing is insufficient for broad new BDC allocations; most remain unattractive except for select nam...