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Golub Capital BDC Announces Public Offering

April 10, 2015, 07:14 AM
Filed Under: Industry News

Golub Capital BDC, Inc., a business development company, announced that it plans to make a public offering of 3.5 million shares of its common stock. The company also plans to grant the underwriters an option to purchase up to an additional 525,000 shares of common stock. Wells Fargo Securities, BofA Merrill Lynch and UBS Investment Bank are acting as joint book-running managers for the offering. The co-managers are Raymond James and Keefe, Bruyette & Woods, a Stifel company. The offering of the shares will be made under the company's shelf registration statement, which was filed with, and declared effective by, the Securities and Exchange Commission.

The company intends to use the net proceeds from the offering to invest in portfolio companies in accordance with its investment objective and strategies and for general corporate purposes. The company will also pay operating expenses, including management and administrative fees, and may pay other expenses such as due diligence expenses relating to potential new investments, from the net proceeds of the offering. A portion of the net proceeds from the offering may be utilized to capitalize Senior Loan Fund LLC, an unconsolidated Delaware limited liability company that invests in senior secured loans of middle-market companies and is co-managed by the Company and RGA Reinsurance Company. The company may also use a portion of the net proceeds from the offering to repay amounts outstanding under its credit facilities.

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