Barings BDC, Inc. filings document the regulatory record of an externally managed business development company focused on senior secured lending to middle-market companies. Its SEC disclosures cover operating and financial results, Regulation FD materials, dividend declarations, annual meeting matters and governance actions under its public-company and BDC framework.
The filing record also includes material agreements and capital-structure disclosures, including credit facility amendments, senior unsecured notes, supplemental indentures and related debt terms. Proxy materials describe shareholder voting matters and board governance, while Form 8-K reports document results releases, other events and financing transactions.
Barings BDC, Inc. reported total investment income of $64.3 million for the three months ended September 30, 2026, compared with $72.4 million a year earlier. Net investment income after taxes was $27.2 million, versus $33.6 million, and net investment income per share was $0.26, versus $0.32. Net increase in net assets resulting from operations was $24.6 million, compared with $23.6 million.
Quarterly distributions were $0.26 per share, versus $0.31 a year earlier; the current-period amount was the $0.26 regular quarterly distribution, while the prior-year total included a $0.26 regular distribution and $0.05 in special distributions. Net asset value was $10.92 per share at September 30, 2026, compared with $11.09 at December 31, 2025. Operating activities provided $58.9 million in cash over the first nine months, versus $44.0 million used in the prior-year period.
Investments at fair value totaled $2.510 billion as of September 30, 2026, compared with $2.399 billion at December 31, 2025. Borrowings under the credit facility were $334.7 million versus $226.8 million at those respective dates, while notes payable, net of deferred financing fees, were $1.110 billion versus $1.203 billion.
Barings BDC, Inc. (BBDC) reported third-quarter 2026 results and declared a quarterly cash dividend of $0.26 per share. Total investment income was $64.3 million, compared with $72.4 million in the year-earlier quarter, while net investment income was $27.2 million, or $0.26 per share, versus $33.6 million, or $0.32 per share. Net assets increased $24.6 million from operations, compared with $23.6 million a year earlier. NAV was $10.92 per share as of September 30, down $0.02 from June 30. The company funded $196.0 million of investments, including 20 new portfolio companies.
The dividend record date is December 2, 2026, and the payment date is December 9, 2026. On October 30, Barings BDC priced an approximately $396.3 million CLO: $304.0 million of rated secured notes were sold to third-party investors, and $92.3 million of subordinated notes were retained. The floating-rate notes carry a weighted average interest rate of Term SOFR plus 1.64%. The transaction is expected to close in mid-November, subject to customary closing conditions; the company intends to use net proceeds and credit-agreement borrowings to repay its $350.0 million of 3.300% notes due November 23, 2026. Subsequent to September 30, it made approximately $70.9 million of new commitments, of which $36.2 million closed and funded.
Barings BDC, Inc. (BBDC) presents a detailed schedule of investments that prominently features first lien senior secured term loans and related revolving credit facilities, with stated dates such as June 30 2026, December 31 2025 and December 31 2024.
The portfolio list also includes second lien and super senior loans, subordinated and senior unsecured term loans, structured secured notes, subordinated structured notes and a first lien secured bond. In addition to debt, the company holds common and preferred stock, LLC and LP units, partnership equity, warrants, royalty rights and specific member interests in joint ventures. Derivative positions include interest rate swaps and foreign currency forward contracts across several currencies, reflecting active management of rate and FX exposures alongside the credit and equity investment book.
Barings BDC, Inc. reported total investment income of $65.2 million for the quarter ended June 30, 2026. Net investment income was $29.0 million, or $0.28 per share, leading to a net increase in net assets from operations of $18.3 million, or $0.18 per share. Net investment income per share exceeded the regular quarterly dividend of $0.26.
As of June 30, 2026, the investment portfolio at fair value was $2,458.6 million and net asset value per share was $10.94, down $0.08 from the prior quarter, primarily reflecting $0.28 per share of net unrealized depreciation, partially offset by $0.18 per share of net realized gains and other items. Debt outstanding was $1,409.7 million, with a debt-to-equity ratio of 1.23x and a net debt-to-equity ratio of 1.18x.
Management stated that it continued to generate strong earnings and over earned the dividend, citing a predominantly senior secured portfolio and portfolio deployment. The company terminated the prior Sierra credit support agreement, providing $67 million for reinvestment, and the board declared a third-quarter 2026 cash dividend of $0.26 per share, payable September 9, 2026 to stockholders of record on September 2, 2026.
Barings BDC, Inc. Chief Executive Officer Thomas McDonnell purchased additional company stock in the open market. On June 3, 2026, he bought 10,000 shares of Barings BDC common stock at a price of $8.27 per share. Following this open-market purchase, he directly owns 26,000 common shares.
Barings BDC, Inc. entered a new Credit Support Agreement with its adviser Barings LLC and simultaneously terminated a prior support agreement. The new agreement provides downside protection on two remaining Sierra legacy investments with a fair value of $10,994,928 as of May 29, 2026, by obligating the adviser to cover future losses up to that amount through fee waivers and, if needed, a cash payment.
Under a separate termination agreement, the adviser will pay $67,027,611 in cash to Barings BDC by June 30, 2026 to fully satisfy prior credit support on realized, small, or loss‑position investments. Any payment under the new support agreement will be excluded from incentive fee calculations.
Barings BDC (BBDC) discloses a highly diversified investment portfolio concentrated in private credit. The holdings list spans hundreds of positions, primarily first lien senior secured term loans and associated revolving credit facilities to middle‑market companies across many industries and geographies.
The schedule also includes second lien and subordinated term loans, senior unsecured loans, structured notes and CLO subordinated tranches, plus a wide range of equity interests such as common stock, preferred stock, partnership and LLC units, warrants and royalty rights. Several foreign currency forward contracts in AUD, CAD, DKK, EUR, NZD, NOK, GBP, SEK and CHF appear, indicating active currency hedging around the credit portfolio.
Positions are shown as of multiple reporting dates, including December 31, 2024, December 31, 2025 and March 31, 2026, giving a snapshot of how Barings BDC deploys capital across secured loans, structured products and equity co‑investments.
Barings BDC, Inc. reported first quarter 2026 results, generating total investment income of $60.6 million and net investment income of $25.9 million, or $0.25 per share. Net assets rose by $20.0 million, or $0.19 per share, while net asset value per share slipped slightly to $11.02 from $11.09 as of December 31, 2025.
The Board declared a $0.26 per-share cash dividend for the second quarter of 2026, payable June 10, 2026 to stockholders of record on June 3, 2026. The Board also previously authorized a $30.0 million share repurchase program effective March 1, 2026 through March 1, 2027, although no shares were repurchased in the quarter.
As of March 31, 2026, Barings BDC’s investment portfolio at fair value was $2.37 billion, with total assets of $2.60 billion, total net assets of $1.15 billion, and a debt-to-equity ratio of 1.24x. Stockholders also elected three Class II directors to terms ending at the 2029 annual meeting.
Barings BDC, Inc. is holding its 2026 Annual Meeting of Stockholders as a virtual-only event on May 7, 2026 at 8:30 a.m. Eastern via www.virtualshareholdermeeting.com/BBDC2026. Stockholders will vote on electing three Class II directors—Steve Byers, Valerie Lancaster‑Beal and John A. Switzer—to three‑year terms, and may transact other proper business. The record date is March 6, 2026, when 104,706,884 common shares were outstanding, each with one vote. The Board, including all independent directors, unanimously recommends voting “FOR” each director nominee. Independent directors received a $150,000 annual cash retainer for 2025, with an additional $20,000 for the lead independent director and Audit Committee chair.
The company’s annual report section provides a detailed schedule of its investment portfolio, showing hundreds of positions across private borrowers and structures. Most assets are credit instruments such as First Lien Senior Secured Term Loans, revolvers, delayed draw term loans, second lien and subordinated term loans, as well as structured notes and municipal and other secured bonds.
The schedule also lists extensive equity and equity-like holdings, including common and preferred stock, LLC and partnership units, warrants, royalty rights and various member interests. Many instruments have stated maturities on 2024-12-31 and 2025-12-31, and at least one loan specifies a floating rate of SOFR + 6.75%, 11.3% cash. The portfolio further includes foreign currency forward contracts in several currencies, highlighting additional hedging or trading activity.