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Truist Bank Agents Upsize for Goldman Sachs BDC

February 28, 2020, 08:55 AM
Filed Under: Industry News

Goldman Sachs BDC, Inc. announced that it has favorably amended its senior secured revolving credit facility agreement with Truist Bank (formerly known as SunTrust Bank), as administrative agent (as amended, supplemented or otherwise modified and in effect from time to time, the “Truist Revolving Credit Facility”).

These amendments, among other things, include the reduction of the stated interest rate from LIBOR plus 2.00% to LIBOR plus 1.875%, subject to certain requirements, and the extension of the final maturity date from February 21, 2023 to February 25, 2025. In addition, upon the consummation of the Company’s merger with Goldman Sachs Middle Market Lending Corp. (“MMLC”), the size of the Truist Revolving Credit Facility will be increased from $795 million to $1,695 million and the accordion feature will be increased to allow the Company to increase the total facility size from up to $1,000 million to up to $2,250 million, subject to certain other limited conditions.

“We believe these changes to our revolving credit facility further strengthen the Company’s balance sheet and funding profile. Furthermore, we are gratified by the support from both our lending syndicates in Goldman Sachs BDC, Inc. and Goldman Sachs Middle Market Lending Corp. to increase the size of GSBD’s revolving credit facility upon the consummation of a merger with MMLC,” said Jonathan Lamm, CFO of Goldman Sachs BDC, Inc.

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