Goldman Sachs Bdc, Inc. (GSBD) 10-K Annual Report Thu Feb 28 2019

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Goldman Sachs Bdc, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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Inside Goldman Sachs Bdc, Inc.'s 10-K Annual Report:

Financial - Income Highlight
Other income Other income decreased from $4.61 million for the year ended December 31, 2017 to $2.10 million for the year ended December 31, 2018 primarily due to not earning loan origination and structuring fee income from the Senior Credit Fund and syndication fee income, as well as lower amendment fee income earned.

Financial - Shares Highlight
In February 2019, our Board of Directors approved a new common stock repurchase plan (the "New Company 10b5-1 Plan"), which provides for us to repurchase of up to $25.00 million of shares of our common stock if the stock trades below the most recently announced net asset value per share, subject to limitations.
Revenue - Product Highlight
Cash used by operating activities for year ended December 31, 2018 was approximately $49.24 million, primarily driven by an increase in net assets resulting from operations of $53.68 million, proceeds from sales and principal repayments of $321.72 million, proceeds from other operating activities of $13.90 million and proceeds from net sale of investments in affiliated money market fund of $11.54 million, offset by purchases of investments of $450.08 million.
Financial - Earnings Highlight
Borrowings denominated in USD, including amounts drawn in respect of letters of credit, bear interest (at our election) of either (i) LIBOR plus a margin of either 1.75% or 2.00%, subject to borrowing base conditions or (ii) an alternative base rate, which is the higher of the Prime Rate, Federal Funds Rate plus 0.50% or overnight LIBOR plus 1.00%, plus either 0.75% or 1.00%, subject to borrowing base conditions.
Financial - Debt Highlight
The following table presents certain selected information regarding our investment portfolio (excluding our investment in a money market fund managed by an affiliate of Group Inc.) as of December 31, 2018 and December 31, 2017: Number of portfolio companies 72 56 Percentage of performing debt bearing a floating rate 96.6% 96.4% Percentage of performing debt bearing a fixed rate 3.4% 3.6% Weighted average yield on debt and income producing investments, at amortized cost 10.9% 11.0% Weighted average yield on debt and income producing investments, at fair value 11.3% 11.6% Weighted average leverage (net debt/EBITDA) 5.6x 5.3x Weighted average interest coverage 2.2x 2.3x Median EBITDA 26.87 million 40.06 million Includes the Senior Credit Fund as a single portfolio company.
Other - Other
VOG presents the valuations to...Read more
Financial - Debt
Weighted average interest coverage is...Read more
Other - Other
GS & Co. adopted a...Read more
Revenue - Product
Cash used by operating activities...Read more
Revenue - Product
Cash used by operating activities...Read more
Financial - Expense
Professional fees and other general...Read more
Other - Other
With respect to investments for...Read more
Financial - Debt
As of December 31, 2018...Read more
Other - Other
In February 2017, our Board...Read more
Other - Other
Below is a summary of...Read more
Financial - Debt
Interest and other debt expense...Read more
Other - Other
Following the distribution of underlying...Read more
Other - Other
Repurchases of our common stock...Read more
M & A - Other
All investments or acquired investments...Read more
Financial - Expense
This system is intended primarily...Read more
Financial - Debt
Interest and other debt expenses...Read more
Financial - Debt
Computed based on (a) the...Read more
Financial - Debt
Computed based on (a) the...Read more
M & A - Other
Net change in unrealized appreciation...Read more
Financial - Income
We generally will be required...Read more
M & A - Other
The trends and risk factors...Read more
Financial - Expense
As of December 31, 2018,...Read more
Other - Other
As of December 31, 2017,...Read more
Financial - Shares
The GS 10b5-1 Plan required...Read more
Financial - Shares
In February 2016, our Board...Read more
Revenue - Product
Accretion of discounts and amortization...Read more
Financial - Debt
We believe this calculation method...Read more
Revenue - Product
Interest from investments, which includes...Read more
Financial - Expense
The decrease in weighted average...Read more
Other - Other
Purchases of our common stock...Read more
Other - Other
Net change in unrealized appreciation...Read more
Revenue - Product
Included in interest for the...Read more
Revenue - Product
Included in interest for the...Read more
Financial - Shares
No purchases will be effected...Read more
Financial - Expense
The negative cost is the...Read more
Financial - Expense
The negative cost is the...Read more
Other - Other
Due to the inherent uncertainties...Read more
Other - Other
We entered into an agreement...Read more
Other - Other
As a BDC, with certain...Read more
Legal - Other
The New Company 10b5-1 Plan...Read more
Financial - Cash Flow
We expect to generate cash...Read more
Financial - Earnings
The increase is primarily driven...Read more
Financial - Income
Payment-in-kind income from investments increased...Read more
Financial - Debt
Cash provided by financing activities...Read more
Financial - Expense
We expect our general and...Read more
Other - Other
A portion of the portfolio...Read more
Financial - Debt
We used the net proceeds...Read more
Financial - Debt
We used the net proceeds...Read more
Financial - Expense
As of December 31, 2018...Read more
Other - Other
Our actual results could differ...Read more
Financial - Debt
Effective April 13, 2017, we...Read more
Financial - Dividend
Interest or dividend payments received...Read more
Financial - Dividend
Interest or dividend payments received...Read more
M & A - Other
As a result of these...Read more
Other - Other
Either party or the stockholders,...Read more
Revenue - Product
The sale of the Initial...Read more
Other - Other
In addition to various risk...Read more
Financial - Income
We intend to timely distribute...Read more
Financial - Debt
Median EBITDA is based on...Read more
Other - Other
In addition, effective June 6,...Read more
Other - Other
As of December 31, 2018,...Read more
Financial - Expense
As of December 31, 2017,...Read more
Financial - Expense
As of December 31, 2018,...Read more
Legal - Other
The Company 10b5-1 Plan provides...Read more
Revenue - Product
The sale of the Additional...Read more
Financial - Income
Incentive Fees increased from $12.78...Read more
Financial - Shares
The purchase of shares by...Read more
Financial - Debt
Effective December 22, 2017, we...Read more
Other - Other
Below is certain summarized Statement...Read more
Other - Other
Proceeds from borrowings may be...Read more
Financial - Income
Incentive Fees increased from $10.42...Read more
Other - Other
Subject to applicable provisions of...Read more
Financial - Debt
Median EBITDA is based on...Read more
Other - Other
Net change in unrealized appreciation...Read more
Other - Other
Management Fees increased from $17.01...Read more
Other - Other
Excludes unfunded commitments that may...Read more
Legal - Other
Portfolio company fees (directors? fees,...Read more
Financial - Expense
The following table shows the...Read more
Other - Other
Short-term credits necessary for the...Read more
Other - Other
As a result of this...Read more
Financial - Shares
Upon conversion of any of...Read more
Other - Other
We believe this calculation method...Read more
Financial - Debt
Cash provided by financing activities...Read more
M & A - Other
Effective February 22, 2019, we...Read more
Financial - Dividend
Dividend income on preferred equity...Read more
Financial - Dividend
Due to regulatory considerations, Group...Read more
Financial - Dividend
Due to regulatory considerations, Group...Read more

Material Contracts, Statements, Certifications & more

Goldman Sachs Bdc, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 99.(10)(25): Joinder Agreement

Exhibit 99.(31)(1): Certification Of Chief Executive Officer

Exhibit 99.(31)(2): Certification Of Chief Financial Officer

Exhibit 99.(32)(1): Certification Of Chief Executive Officer And Chief Financial Officer

Ticker: GSBD
CIK: 1572694
Form Type: 10-K Annual Report
Accession Number: 0001193125-19-057955
Submitted to the SEC: Thu Feb 28 2019 12:18:39 PM EST
Accepted by the SEC: Thu Feb 28 2019
Period: Monday, December 31, 2018
Industry: 1572694

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Goldman Sachs Bdc, Inc. (GSBD) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

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