UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ Form 10-Q __________________________________________________________ (Mark One) ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00733 ____ ...

Barings BDC, Inc. Fourth Quarter 2022 Earnings Presentation February 23, 2023 Barings-Public Disclaimers and Cautionary Notes Regarding Forward-Looking Statements Cautionary Notice: Certain statements contained in this presentation are "forward-looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs, and which are subjec ...

Barings BDC, Inc. (NYSE:BBDC) Q4 2022 Results Conference Call February 24, 2023 9:00 AM ET Company Participants Eric Lloyd - Chief Executive Officer Ian Fowler - Co-Head of Global Private Finance, President of Barings BDC Bryan High - Head of Capital Solutions and Co-Portfolio Manager Jonathan Landsberg - Chief Financial Officer Conference Call Participants Kyle Joseph - Jefferies Casey Alexander - Compass Point Robert Dodd - Raymond James Ryan Lynch - KBW Operator At this time, I would like to welcome ever ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00733 Barings BDC, Inc. (Exact name of registrant as specified in its charter) Maryland 06-1798488 (State or other jurisdiction of in ...

Barings BDC, Inc. (NYSE:BBDC) Q3 2022 Earnings Conference Call November 11, 2022 9:00 AM ET Company Participants Jonathan Bock - Chief Executive Officer Ian Fowler - Co-Head-Global Private Finance and President Bryan High - Head-Capital Solutions and Co-Portfolio Manager Jonathan Landsberg - Chief Financial Officer Conference Call Participants Finian O’Shea - Wells Fargo Kyle Joseph - Jefferies Ryan Lynch - KBW Casey Alexander - Compass Point Operator At this time, I would like to welcome everyone to the Ba ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________________________ Form 10-Q __________________________________________________________ (Mark One) ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 814-00733 ...

Barings BDC, Inc. (NYSE:BBDC) Q2 2022 Earnings Conference Call August 10, 2022 9:00 AM ET Company Participants Eric Lloyd - Chairman & CEO Ian Fowler - President Jonathan Bock - CFO Bryan High - VP Conference Call Participants Kyle Joseph - Jefferies Finian O'Shea - Wells Fargo Securities Casey Alexander - Compass Point Research & Trading Robert Dodd - Raymond James & Associates Operator At this time, I would like to welcome everyone to the Barings BDC, Inc. conference call for the quarter ended June 30, 20 ...

Debt Investments and Yield - As of June 30, 2022, the weighted average yield on the principal amount of outstanding debt investments was approximately 7.6%, up from 7.2% as of December 31, 2021[353] - The weighted average yield on all outstanding debt investments, including non-accrual debt, was approximately 7.2% as of June 30, 2022, compared to 6.9% as of December 31, 2021[353] - The weighted average yield on outstanding debt investments was 7.6% as of June 30, 2022, compared to 7.4% as of June 30, 2021[383] - The weighted average yield of the debt investments made was 8.2%[434] Investment Portfolio and Strategy - The investment portfolio is primarily focused on senior secured private debt investments in established middle-market businesses across various industries[350] - The company has shifted its investment strategy to focus on syndicated senior secured loans and bonds since August 2018[350] - The total value of the investment portfolio increased to $2,389.1 million as of June 30, 2022, from $1,800.6 million as of December 31, 2021, representing a growth of approximately 32.6%[364] - As of June 30, 2022, the company had investments in 294 portfolio companies with an aggregate cost of $2,439.1 million, compared to 212 companies with a cost of $1,787.8 million as of December 31, 2021[364] - Senior debt and 1st lien notes accounted for 65% of the total fair value of the portfolio as of June 30, 2022, with a fair value of $1,550.2 million[365] Financial Performance - Total investment income for the three months ended June 30, 2022, was $55.6 million, a 67.5% increase from $33.2 million in the same period of 2021[382] - Total operating expenses for the three months ended June 30, 2022, were $23.8 million, up 28.5% from $18.6 million in the same period of 2021[385] - Net investment income before taxes for the three months ended June 30, 2022, was $31.8 million, compared to $14.6 million for the same period in 2021, representing a 117.6% increase[382] - The outstanding debt investments increased to $2,162.5 million as of June 30, 2022, from $1,463.6 million as of June 30, 2021, reflecting a 47.8% growth[383] - Dividends from portfolio companies for the three months ended June 30, 2022, were $7.2 million, significantly higher than $0.4 million in the same period of 2021[383] Losses and Depreciation - The company recognized a net realized loss of $6.1 million from the sale of $101.7 million of loans during the same period[366] - The company recognized net realized losses totaling $10.2 million, primarily from a net loss on the loan portfolio of $6.7 million and foreign currency transactions of $2.7 million[391] - During the six months ended June 30, 2022, the company recorded net unrealized depreciation of $41.2 million, driven mainly by the impact of foreign currency exchange rates on investments of $29.2 million and broad market moves of $55.4 million[395] - The net unrealized depreciation on the current portfolio for the three months ended June 30, 2022, was $62.7 million, primarily due to credit performance issues and foreign currency impacts[394] Cash and Borrowings - As of June 30, 2022, the company had $197.8 million in cash and foreign currencies on hand, with a net increase in cash of $113.5 million for the six months ended June 30, 2022[399] - The February 2019 Credit Facility was increased to $1.1 billion as of April 1, 2022, allowing for total commitments to reach $1.5 billion subject to certain conditions[401] - As of June 30, 2022, the company had U.S. dollar borrowings of $537.5 million outstanding under the February 2019 Credit Facility with an interest rate of 3.198%[404] - The company had net cash provided from financing activities of $126.2 million for the six months ended June 30, 2022, primarily from net borrowings under the February 2019 Credit Facility[399] Shareholder Returns and Distributions - The company declared a quarterly distribution of $0.24 per share on August 9, 2022, payable on September 14, 2022, to stockholders of record as of September 7, 2022[434] - The company has adopted a dividend reinvestment plan (DRIP) allowing stockholders to reinvest dividends in shares of common stock unless they opt for cash[429] - The company must distribute at least 90% of its investment company taxable income (ICTI) annually to maintain its tax treatment as a RIC[431] - The company monitors its distribution requirements to ensure compliance with the Code and has historically met its minimum distribution requirements[430] Interest Rate Risk - The company has no interest rate hedging arrangements as of June 30, 2022, exposing it to interest rate volatility risks[468] - The transition from LIBOR to SOFR or other benchmark rates presents uncertainties that could affect the cost of capital and net investment income[470] - The company’s net investment income is sensitive to the difference between borrowing rates and investment rates, with rising interest rates potentially increasing costs[475] - A hypothetical 200 basis point increase or decrease in interest rates on variable-rate debt investments could impact investment income by a maximum of $38.4 million annually[472] Fee Income - Recurring fee income for the three months ended June 30, 2022, was $2,122,000, compared to $1,711,000 for the same period in 2021, representing a 24% increase[453] - Total fee income for the six months ended June 30, 2022, was $6,268,000, up from $4,701,000 in the same period of 2021, indicating a 33% growth[453] - Non-recurring fee income for the three months ended June 30, 2022, was $2,950,000, significantly higher than $857,000 in the same period of 2021, reflecting a 244% increase[453] - The company reported a total of $5,072,000 in fee income for the three months ended June 30, 2022, compared to $2,568,000 in the same period of 2021, indicating a 97% increase[453]