**Barings BDC Reports Second Quarter 2025 Financial Results**
Barings BDC, Inc. (the "Company") has released its financial results for the second quarter of 2025, revealing a net investment income after taxes of $29.8 million, or $0.28 per share, compared to $42.1 million, or $0.40 per share, for the same period in 2024. Total investment income for the quarter was $74.4 million, slightly down from $74.9 million in the prior year. The company reported a net increase in net assets resulting from operations of $20.6 million, or $0.20 per share, compared to $19.4 million, or $0.18 per share, in the second quarter of 2024. The decrease in net investment income was primarily due to a decrease in the weighted average yield on the portfolio, partially offset by increased dividends from portfolio companies and joint venture investments and increased fee and other income.
For the six-month period ended June 30, 2025, the Company reported a net investment income after taxes of $56.2 million, or $0.53 per share, compared to $71.5 million, or $0.67 per share, for the same period in 2024. Total investment income for the period was $138.8 million, down from $144.7 million in the prior year. The company reported a net increase in net assets resulting from operations of $53.1 million, or $0.51 per share, compared to $63.4 million, or $0.60 per share, for the first six months of 2024. The company's net asset value per share stood at $11.18 as of June 30, 2025, a decrease from $11.29 at the end of 2024.
Key operational developments included $266.9 million in new investments and $139.0 million in investments in existing portfolio companies during the first six months of 2025. The company also repurchased 250,000 shares of its common stock for $2.3 million under its share repurchase program. The company's investment portfolio at fair value was $2.62 billion as of June 30, 2025, compared to $2.45 billion as of December 31, 2024. The company's borrowings under its credit facility increased from $438.6 million at the end of 2024 to $547.3 million as of June 30, 2025. Notes payable, net of deferred financing fees, increased slightly from $1.01 billion to $1.02 billion over the same period.
The company's board declared a regular quarterly dividend of $0.26 per share and a special dividend of $0.05 per share for the second quarter of 2025, totaling $0.31 per share. This compares to a regular quarterly dividend of $0.26 per share for the second quarter of 2024. The company's total liabilities increased from $1.51 billion as of December 31, 2024 to $1.62 billion as of June 30, 2025, while total net assets decreased from $1.19 billion to $1.18 billion over the same period. The company's schedule of investments details a diverse portfolio across various sectors, with significant allocations to high tech industries, banking, finance, insurance, and real estate, and services.
About Barings BDC, Inc.
Barings BDC, Inc. is a closed-end, non-diversified business development company investing primarily in senior secured private debt of middle-market companies across various industries. It targets established, cash-flow positive businesses, often backed by private equity sponsors, to generate current income through customized financing solutions. Managed by Barings, a global asset manager, Barings BDC emphasizes rigorous credit analysis, active portfolio management, and diversified investments in U.S. and select international markets.
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