GBDC Quick Update: Q1 2021 Results
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Summary
GBDC hit its best-case projections with slightly increased portfolio yield (from 7.4% to 7.5%) and higher fee income partially offset lower portfolio growth (decline).
Leverage (debt-to-equity) declined to 0.80 (net of cash) due to increased NAV per share (by 1.8%) and sales/exits exceeding new investments for the quarter.
GBDC is working to reduce…