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Golub Capital BDC Announces Pricing on New $400MM Term Debt Securitization

May 15, 2014, 07:09 AM
Filed Under: Industry News

Golub Capital BDC, Inc. a business development company announced that its wholly-owned and consolidated subsidiary, Golub Capital BDC CLO 2014 LLC, has priced a twelve year $400 million term debt securitization.

Click here to view the structure of the term debt securitization.

The term debt securitization is expected to be 70% - 80.0% funded at close with assets that currently secure the Company's revolving credit facility with Wells Fargo and with assets that are currently unlevered.  Additionally, based upon current LIBOR rates and including the amortization of costs and fees associated with the debt securitization, the Company projects an all-in yield of 2.4 % on the Class A and Class B Notes which compares favorably to the all-in yield of 3.1% on the company's revolving credit facility with Wells Fargo for the three months ended March 31, 2014.  

Golub Capital BDC, Inc. invests primarily in senior secured, one stop, second lien and subordinated loans of, and warrants and minority equity securities in, 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 ("Golub Capital").

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