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Golub Capital BDC Announces $261.1MM in Originations

January 13, 2014, 07:20 AM
Filed Under: Industry News

Golub Capital BDC, a business development company, announced that it originated $261.1 million in new middle-market investment commitments during the three months ended December 31, 2013. Approximately 13% of the new middle-market investment commitments were senior secured loans, 78% were one stop loans, 8% were junior debt investments and 1% were equity securities. Of the new middle-market investment commitments, $230.5 million funded at close. In addition, during the three months ended December 31, 2013, Golub Capital BDC, Inc. invested $25.7 million in Senior Loan Fund LLC, an unconsolidated Delaware limited liability company that invests in senior secured loans and is co-managed by Golub Capital BDC, Inc. and United Insurance Company.

Overall, total investments at fair value increased by $155.7 million during the three months ended December 31, 2013 after factoring in debt repayments, sales of securities, net fundings on revolvers, and net change in unrealized gains (losses).

Golub Capital BDC, Inc. principally invests in senior secured, one stop, second lien, and subordinated 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 $8 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm's proprietary MiniGOLD, GOLD, and MegaGOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates senior credit facilities up to $300 million. Golub Capital's hold sizes range up to $250 million per transaction.

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