Carlyle Secured Lending

CGBD

Market cap $889M

NEW YORK, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Carlyle Secured Lending, Inc. (“Carlyle Secured Lending”) (NASDAQ: CGBD) will host a conference call at 11:00 a.m. (Eastern Time) on Wednesday, November 5, 2025 to announce its financial results for the third quarter ended September 30, 2025. The Company will report its quarterly financial results on Tuesday, November 4, 2025.

Carlyle Secured Lending, Inc. trades at above a 25% discount to NAV, near historic lows, offering an attractive entry point. CGBD's historical ROE averages 7.76%, with an expected ROE of 7.27% at current discounts, outpacing sector bond yields. The company's bonds yield about 5.7%, but CGBD common stock offers higher returns for those willing to accept greater credit risk.

NEW YORK, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Carlyle Secured Lending, Inc. (Nasdaq: CGBD) (the “Company”) today announced that it has priced an underwritten public offering of $300 million in aggregate principal amount of 5.750% unsecured notes due 2031 (the “Notes”). The Notes will mature on February 15, 2031 and may be redeemed in whole or in part at the Company's option at the applicable redemption price. The offering is expected to close on October 7, 2025, subject to customary closing conditions.

BDCs have already experienced a notable correction. The sector median P/NAV metric indicates ~12% discount to NAV. Many players are priced even below that.

The Dividend Power strategy highlights 35 high-yield stocks, with 12 'safer' picks offering free cash flow yields above dividend yields and fair valuations. Top five 'safer' Dividend Power stocks for September are Carlyle Secured Lending (CGBD), Stellus Capital (SCM), Blue Owl Capital (OBDC), SLR Investment (SLRC), and Seven Hills Realty (SEVN). Analyst projections suggest the top ten Dividend Power stocks could deliver average net gains of 43.3% by September 2026, though risk and volatility vary.

Carlyle Secured Lending offers an 11.6% dividend yield, but recent cuts to special dividends and NII declines pressure the payout's sustainability. Shares trade at a 16% discount to NAV, reflecting investor concerns over dividend coverage and declining book value. Record second-quarter originations and a shift toward first lien debt support future growth, but yield compression forms headwinds for CGBD.

Carlyle Secured Lending shows improved portfolio quality, defensive positioning, and merger synergies, but macro uncertainty clouds the near-term outlook. Despite attractive valuation and 11.4% yield, declining dividend coverage and potential rate cuts prompt me to downgrade from buy to hold. Balance sheet strength and increased first-lien exposure provide resilience, yet tighter spreads and economic risks warrant caution.

We take a look at the action in business development companies through the third week of August and highlight some of the key themes we are watching. BDCs remain attractive due to sector-wide valuations that are well below historic averages, providing a margin of safety and boosting earnings yield for investors. Valuation-adjusted total NAV return is a key metric—investors should focus on returns relative to valuation, not just headline numbers or wide discounts.

Carlyle Secured Lending Inc. (NASDAQ:CGBD ) Q2 2025 Earnings Conference Call August 6, 2025 11:00 AM ET Company Participants Justin V. Plouffe - CEO, President & Interested Director Nishil Mehta - MD & Portfolio Manager Thomas M.

Carlyle Secured Lending, Inc. (CGBD) came out with quarterly earnings of $0.39 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.51 per share a year ago.