Golub Capital BDC, Inc. Announces New $475.0 Million Senior Secured Revolving Credit Facility
Golub Capital BDC, Inc. (Nasdaq: GBDC) has closed a $475 million senior secured revolving credit facility, led by JPMorgan Chase Bank with participation from six banks.
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Rhea-AI Summary
Golub Capital BDC, Inc. (Nasdaq: GBDC) has closed a $475 million senior secured revolving credit facility, led by JPMorgan Chase Bank with participation from six banks. The facility, which matures on February 11, 2026, offers an option for an additional $237.5 million. Interest rates range from one-month LIBOR plus 1.75% to 1.875%. CEO David B. Golub emphasized the facility's favorable terms and the diversification of liquidity sources following their successful unsecured notes offering in October 2020.
Positive
- Closed a $475 million senior secured revolving credit facility.
- Interest rates range from one-month LIBOR plus 1.75% to 1.875%, indicating favorable borrowing costs.
- Option for an additional $237.5 million commitment enhances liquidity.
Negative
- None.
Details
News Market Reaction – GBDC
The recorded move for GBDC in the trading session of this news was -0.40%.
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NEW YORK, Feb. 12, 2021 /PRNewswire/ -- Golub Capital BDC, Inc. (the "Company", "we", "us" or "our") a business development company (Nasdaq: GBDC), today announced the closing of a new senior secured syndicated revolving credit facility (the "Facility"). The Facility is led by JPMorgan Chase Bank, N.A. and includes a total of six bank participants.
The Facility closed on February 11, 2021. Under the Facility, the lenders have agreed to extend credit to us in an initial aggregate amount of up to
"We continue to execute on our strategy of increasing the flexibility of our strong balance sheet and add to our diversified sources of liquidity, building on our successful inaugural offering of unsecured notes in October 2020," said David B. Golub, Chief Executive Officer of GBDC. "We believe the pricing and terms of this new credit facility are attractive. We appreciate the continued support of our lending partners, and we are pleased to welcome several new lenders to the syndicate."
For further information, please see the Company's current report on Form 8-K filed with the Securities and Exchange Commission on February 12, 2021.
ABOUT GOLUB CAPITAL BDC, INC.
Golub Capital BDC, Inc. ("GBDC") is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. GBDC invests primarily in one stop and other senior secured loans to middle market companies that are often sponsored by private equity investors. GBDC's investment activities are managed by its investment adviser, GC Advisors LLC, an affiliate of the Golub Capital LLC group of companies ("Golub Capital").
ABOUT GOLUB CAPITAL
Golub Capital is a market-leading, award-winning direct lender and credit asset manager, with over
FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. Golub Capital BDC, Inc. undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
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SOURCE Golub Capital BDC, Inc.
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