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  "documentTitle": "GSBD Investor Presentation Q1 2023 vF",
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  "notes": "The slide provides a high-level overview of the company's quarterly performance, including NAV, investment activity, non-accrual status, debt ratios, and dividend updates.",
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      "text": "These metrics include certain non-GAAP adjustments. See non-GAAP Disclosures on page 14. The discussion of the investment portfolio excludes the investment in a money market fund managed by an affiliate of Goldman Sachs Group, Inc. Total debt outstanding excludes netting of debt issuance costs of $9.6 million and cumulative hedging adjustments for those borrowings that are designated in a fair value hedging relationship of $(2.6) million as of September 30, 2025. The $0.32 per share Base Dividend is payable on or about January 27, 2026 to shareholders of record as of December 31, 2025.",
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      "text": "Goldman Sachs",
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      "text": "During the quarter, the Company had new investment commitments of approximately $470.6 million of which $266.9 million were funded. Fundings of previously unfunded commitments for the quarter were $47.7 million and repayments activity totaled $374.4 million, resulting in net funded investment activity of $(59.8) million.",
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      "text": "The Company's Board of Directors also declared a third quarter 2025 Supplemental Dividend of $0.04 per share payable on or about December 15, 2025 to shareholders of record as of November 28, 2025. Adjusted for the impact of the Supplemental Dividend related to the third quarter's earnings, the Company's third quarter adjusted NAV per share was $12.71.",
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      "text": "As of September 30, 2025, the Company's total investments at fair value and commitments were $3,833.2 million, comprised of investments in 171 portfolio companies across 40 industries. The investment portfolio was comprised of 98.2% senior secured debt, including 96.7% in first lien investments.",
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      "text": "The Company's ending net debt-to-equity ratio was 1.17x as of September 30, 2025 compared to 1.12x as of June 30, 2025.",
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      "text": "Net investment income and adjusted net investment income per share for the quarter ended September 30, 2025 was $0.40, equating to an annualized net investment income yield on book value of 12.5%. Earnings per share for the quarter ended September 30, 2025 was $0.22.",
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      "text": "During the quarter, the Company's 1st Lien/Senior Secured Debt position in Vardiman Black Holdings, LLC (dba Specialty Dental Brands) was placed on non-accrual status due to financial underperformance. As of September 30, 2025, the Company had certain investments held in eight portfolio companies on non-accrual status. As of September 30, 2025, investments on non-accrual status amounted to 1.5% and 2.5% of the total investment portfolio at fair value and amortized cost, respectively.",
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      "text": "On February 26, 2025, the Company's Board of Directors approved a reduction of the base quarterly dividend to $0.32 per share (the \"Base Dividend\") with upside potential through quarterly supplemental variable distributions (the \"Supplemental Dividend\") in the amount of at least 50% of the Company's net investment income in excess of the amount of the Base Dividend to the extent there is sufficient net investment income.",
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      "text": "As of September 30, 2025, 70.2% of the Company's approximately $1,853.0 million aggregate principal amount of debt outstanding was comprised of unsecured debt and 29.8% was comprised of secured debt.",
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      "text": "On June 13, 2025, the Company entered into a 10b5-1 stock repurchase plan, which allows the Company to repurchase up to $75.0 million of shares of the Company's common stock if the common stock trades below the most recently announced quarter-end NAV per share, subject to certain limitations. During the three months ended September 30, 2025, the Company repurchased 2,136,943 shares for $25.1 million, inclusive of commission and direct acquisition costs.",
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