NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) — Carlyle Secured Lending, Inc. (together with its consolidated subsidiaries, “we,” “us,” “our,” “CGBD” or the “Company”) (NASDAQ: CGBD) today announced its financial results for its third quarter ended September 30, 2024. Justin Plouffe, CGBD’s Chief Executive Officer said, “We delivered consistent performance in the third quarter of 2024, capitalizing on increased new deal activity and the strength of our existing portfolio companies. With another strong quarter of originations, we benefited from access to the broader Carlyle Global Credit Platform, as we supplemented our core cash flow strategy with differentiated deal flow and specialty lending capabilities. We remain disciplined in our investment and portfolio management approach and are committed to executing on our strategy of providing investors with resilient, stable cash flows and principal protection.”

Net investment income for the third quarter of 2024 was $0.47 per common share with Adjusted Net Investment Income Per Share⁽¹⁾ of $0.49 after adjusting for the acceleration of debt issuance costs relating to the 2015-1R CLO Reset (as defined below), net of incentive fees. Net asset value per common share decreased by 0.6% for the third quarter to $16.85 from $16.95 as of June 30, 2024. The total fair value of our investments was $1.7 billion as of September 30, 2024.

Dividends

On November 4, 2024, the Board of Directors declared a base quarterly common dividend of $0.40 per share plus a supplemental common dividend of $0.05 per share. The dividends are payable on January 17, 2025 to common stockholders of record on December 31, 2024.

On September 26, 2024, the Company declared a cash dividend on the Preferred Stock for the period from July 1, 2024 to September 30, 2024 in the amount of $0.438 per Preferred Share to the holder of record on September 30, 2024.

Conference Call

The Company will host a conference call at 11:00 a.m. Eastern Time on Wednesday, November 6, 2024 to discuss these quarterly financial results. The conference call will be available via public webcast via a link on Carlyle Secured Lending’s website and will also be available on our website soon after the call’s completion.

Non-GAAP Financial Measures

On a supplemental basis, the Company is disclosing Adjusted Net Income Per Share, which is calculated and presented on a basis other than in accordance with GAAP (“non-GAAP”). The Company’s management uses this non-GAAP financial measure internally to analyze and evaluate financial results and performance and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company and to review the Company’s performance without giving effect to one-time or non-recurring investment income and expense events, including the effect on incentive fees. The presentation of this non-GAAP measure is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

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Andy Ogles, a freshman Republican from Tennessee, is hoping to retain his seat in the U.S. House of Representatives amid an FBI investigation into alleged discrepancies in his 2022 campaign finances.

As the first-term congressman seeks reelection, he will face a strong challenge from Democrat Maryam Abolfazli, a progressive advocate from Nashville, in a district that has become increasingly competitive following recent redistricting.

Ogles, a member of the conservative House Freedom Caucus, confirmed in August that federal agents had seized his cellphone as part of an ongoing investigation into his campaign’s financial filings.

The inquiry stems from reported inconsistencies in Ogles’ 2022 records, including a $320,000 loan he initially reported making to his campaign.

Newsweek has contacted Ogles’ office for comment via email.

What is Andy Ogles Accused Of?

Ogles later amended his filings, lowering the figure to $20,000, and explained that the larger amount had been a pledge, not an actual loan, which he claimed was mistakenly included in the reports.

In addition to the phone seizure, FBI agents obtained a warrant to access Ogles’ personal email account.

However, according to court documents, investigators have yet to review the contents of the account.

Ogles has publicly stated that he is fully cooperating with the investigation and believes the discrepancies were the result of honest errors.

Why is Nashville Left-Leaning?

The scrutiny follows an ethics complaint filed in January 2023 by the Campaign Legal Center, which raised concerns about potential violations related to his personal and campaign finances.

The nonprofit, which advocates for transparency in political funding, compared Ogles’ situation to that of embattled New York Rep. George Santos, who has faced numerous investigations into his own campaign finances.

Ogles represents Tennessee’s 5th District, a Republican-leaning area that includes a portion of the liberal-leaning city of Nashville and stretches through five more conservative counties.

Although the district remains solidly Republican, the influence of Nashville’s progressive voters, combined with shifting national political dynamics, has created a potentially more competitive race than in the past.

In the 2022 election, Ogles won the seat by more than 13 percentage points, a result bolstered by the Republican-led redrawing of the state’s congressional districts after the 2020 census.

Lawmakers split Nashville into three separate districts, forcing longtime Democratic Rep. Jim Cooper into retirement and shifting the state’s congressional delegation to an overwhelming GOP majority.

Ogles’ district now includes part of the newly drawn 5th District, which spans from the Democratic stronghold of Nashville through more conservative rural counties. The redistricting was seen as a strategic move by Republicans to strengthen their hold on the state’s congressional seats.

Ogles faces a tough challenge from Maryam Abolfazli, a Nashville-based nonprofit leader and activist.

Who is Maryam Abolfazli?

Abolfazli, the founder of Rise and Shine TN, has been a vocal advocate for stronger gun control in the wake of the tragic shooting at the Covenant School in Nashville in March 2023, which left six people dead, including three children.

Since entering Congress, Ogles has become known for his vocal opposition to the Biden administration and his alignment with the most conservative factions of the Republican Party.

Beyond his financial controversies, Ogles has faced criticism for past statements about his educational background.

After a news outlet questioned his claim of holding an international relations degree, Ogles admitted to overstating his credentials, saying he was “mistaken” about his academic history.

Ogles, a former mayor of Maury County and state director for the conservative group Americans for Prosperity, remains a staunch defender of conservative policies.

He has filed multiple articles of impeachment against President Joe Biden and Vice President Kamala Harris, citing their administration’s policies on border security, the economy, and other issues.

Following Biden’s announcement that he would not seek reelection in 2024, Ogles introduced new articles of impeachment targeting Harris.

As the race in Tennessee’s 5th District heats up, Ogles’ ability to navigate the FBI investigation, manage his financial controversies, and hold onto his conservative base will be key to his chances of securing a second term.

This article contains additional reporting from The Associated Press

NEW YORK (AP) — Shares were mixed in Asia early Tuesday after U.S. stock indexes drifted lower a day ahead of the U.S. presidential election.

This week will bring various potential flashpoints, among them Election Day in the United States. But the results may not be known for some time as officials count all the votes, and that could bring sharp swings since markets hate uncertainty.

U.S. futures were virtually unchanged early Tuesday.

Adding to the potential for volatility, the Federal Reserve will also be meeting on interest rates later this week. The widespread expectation is for it to cut its main interest rate for a second straight time.

Investors also hope the Chinese government may announce stimulus for the world’s second-largest economy.

Japan’s Nikkei 225 index gained 1.3% to 38,552.67, reopening after a holiday on Monday.

South Korea’s Kospi fell 0.7% to 2,569.75, while the S&P/ASX 200 in Australia dropped 0.6% to 8,117.30.

The Standing Committee of China’s National People’s Congress is meeting this week, and analysts say the government may endorse major spending initiatives to boost economic growth amid troubles for the country’s real-estate industry.

The official Xinhua News Agency reported that the lawmakers had reviewed legislation to raise ceilings on local government debt to replace existing hidden debts, part of a process to arrange debt swaps to help resolve the financial woes brought on by the pandemic and by a collapse in the property market in recent years.

Hong Kong’s Hang Seng was up 0.1% at 20,597.30 and the Shanghai Composite index picked up 0.4% to 3,323.26.

On Monday, the S&P 500 slipped 0.3% to 5,712.69, remaining near its record set last month. The Dow Jones Industrial Average fell 0.6% to 41,794.60, while the Nasdaq composite slipped 0.3% to 18,179.98.

Intel fell 2.9%, and chemical producer Dow sank 2.1% in their first trading since getting notified they’ll no longer be included in the Dow Jones Industrial Average. Warren Buffett’s Berkshire Hathaway dropped 2.2% and was one of the heaviest weights on the market after reporting a drop in operating profit for the latest quarter.

But the majority of stocks within the S&P 500 rose, including a 2.8% gain for Fox after it reported a stronger profit than expected.

The hope that’s propelled U.S. stock indexes to records recently is that the U.S. economy can remain resilient and avoid a long-feared recession, in part because of the coming cuts to rates expected from the Fed.

The broad U.S. stock market has historically risen regardless of which party wins the White House. And in 2020, U.S. stocks climbed immediately after Election Day and kept going even after former President Donald Trump refused to concede and challenged the results, creating plenty of uncertainty. A large part of that rally was due to excitement about the potential for a vaccine for COVID-19, which had just shut down the global economy.

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