The final piece of $0.19 a share or $4.4 million of net realized and unrealized gain was our future’s hedge. You will recall that we put in place a $25 million hedge on treasuries to immunize us from movements in treasuries as those movements would affect the cost of our SBIC borrowings that had not yet been fixed. As of the end of the quarter we had a $400,000 net released non-realized gain on the futures contracts.Turning to slide two of the investor presentation I want to highlight the increase in our NAV this quarter. It ended the quarter at 14.69 and this is right about our NAV at the time of the initial IPO of Golub Capital BDC in April 2010. Just want to highlight this is by design if we are doing our jobs well you will see limited quarter-to-quarter volatility in NAV and we will be earning our distribution maintaining a stable NAV overtime.
Golub Capital BDC's CEO Discusses F2Q12 Results - Earnings Call Transcript
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