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Golub Capital BDC Increases Term Debt Securitization

February 20, 2013, 09:20 AM
Filed Under: Industry News

Golub Capital BDC, Inc., a business development company, announced that it has increased the size of its term debt securitization by $50 million.

The term debt securitization was amended and restated to (i) issue an additional $50 million of notes (increasing the Class A Notes by $29 million, increasing the Class B Notes by $2 million and increasing the Subordinated Notes by $19 million), (ii) extend the reinvestment period by two years to July 20, 2015, (iii) extend the stated maturity date of the notes by two years to July 20, 2023 and (iv) re-price the Class A Notes to bear interest at the London Interbank Offered Rate, or LIBOR, plus 1.74%. The Class A Notes previously bore interest at LIBOR plus 2.40%.  The additional Class A Notes were sold through a private placement and the additional Class B Notes and additional Subordinated Notes were retained by Golub Capital BDC 2010-1 Holdings LLC, a direct subsidiary of the Company.

Golub Capital BDC, Inc. principally invests in senior secured, one stop, subordinated and second lien loans of middle-market companies that are, in most cases, sponsored by private equity investors. Golub Capital BDC, Inc.'s investment activities are managed by its investment adviser, GC Advisors LLC, an affiliate of the Golub Capital group of companies.

With over $7 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one stop financings (through the firm's proprietary GOLD and MEGA GOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity.

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