STOCK TITAN

Goldman Sachs BDC affiliates may sell 2027 notes

The affiliates have no obligation to make a market and may discontinue their market-making activities at any time without notice.

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

Form Type
424B2

Rhea-AI Filing Summary

Goldman Sachs BDC, Inc. affiliates, including Goldman Sachs & Co. LLC, may offer and sell the company’s outstanding 6.375% Notes due 2027 in secondary-market market-making transactions. The affiliates may act as principal or agent, and sales will be priced in relation to prevailing market prices at the time of sale.

Goldman Sachs BDC will receive no proceeds from these sales. The affiliates have no obligation to make a market and may discontinue their market-making activities at any time without notice, in their sole discretion.

Notes interest rate 6.375% Outstanding notes covered by the secondary-market transactions
Notes maturity year 2027 The notes are due in 2027
Middle-market EBITDA lower bound $5 million in annual EBITDA The company’s general definition of middle-market companies
Middle-market EBITDA upper bound $200 million in annual EBITDA The company’s general definition of middle-market companies
market-making transactions financial
"offers and sales in secondary markets related to market-making transactions"
principal or agent financial
"may act as principal or agent in those transactions"
business development company regulatory
"regulated as a business development company"
A business development company is a publicly traded investment vehicle that lends to and buys stakes in smaller or privately held companies, acting like a combination of a lender, investor, and business partner. It matters to investors because BDCs offer the potential for higher regular income through dividends and diversified exposure to growing businesses, but they can also carry greater credit and liquidity risk than typical stocks or bonds—think higher-yielding but riskier income instruments.
unitranche financial
"first lien, unitranche, including last out portions"
A unitranche loan is a single debt agreement that combines what would normally be separate senior and junior loans into one facility with a single interest rate and repayment schedule. For investors it simplifies the company's borrowing picture but changes the risk and return because lenders share one common claim on assets and receive a blended yield, which affects how quickly creditors are repaid in distress and the firm's flexibility to raise or restructure debt — like merging two traffic lanes into one road.
mezzanine debt financial
"unsecured debt, including mezzanine debt"
Mezzanine debt is a hybrid loan that sits between a company’s senior bank debt and equity ownership: it pays higher interest than regular loans because it takes on more risk, and often includes an option to convert into shares or warrants. Investors care because it offers higher potential returns than plain debt while carrying greater chance of loss or equity dilution if the company struggles, making it a middle-ground choice for yield and upside.
Offering Type secondary
Securities Offered 6.375% Notes due 2027
Use of Proceeds Goldman Sachs BDC will not receive proceeds from affiliate sales.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What GSBD notes are covered by affiliate market-making sales?

The sales may involve Goldman Sachs BDC’s 6.375% Notes due 2027. They are secondary-market sales related to market-making transactions.

Does GSBD receive proceeds from affiliate sales of its notes?

No. Goldman Sachs BDC will not receive any proceeds from those secondary-market sales.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates
0001572694false424B2 0001572694 2026-09-29 2026-09-29
Filed Pursuant to Rule 
424(b)(2)
Registration Statement No. 333-299193
Prospectus Addendum
(to Prospectus dated September 29, 2026)
GOLDMAN SACHS BDC, INC.
6.375% Notes due 2027
 
 
Affiliates of Goldman Sachs BDC, Inc. (“GS BDC”), including Goldman Sachs & Co. LLC, may use this prospectus addendum in connection with offers and sales in secondary markets related to market-making transactions in GS BDC’s outstanding 6.375% notes due 2027 (the “Notes”). These affiliates of GS BDC may act as principal or agent in those transactions. Secondary market sales by any of these affiliates will be made at prices related to prevailing market prices at the time of sale. GS BDC will not receive any of the proceeds of those sales. These affiliates of GS BDC do not have any obligation to make a market in the Notes, and may discontinue their market-making activities at any time without notice, in their sole discretion.
The Notes being offered by use of this prospectus addendum were initially offered and sold pursuant to a previously filed registration statement of GS BDC (File No.(File No 333-274797), the GS BDC prospectus supplement, dated March 6, 2024, and the GS BDC prospectus, dated September 29, 2023. You should refer to these documents for information regarding the terms of the Notes. The description of Notes and other information in these documents is incorporated by reference into this prospectus addendum, except that information contained in these documents that constitutes a description of GS BDC is superseded by the information in GS BDC’s most recent Annual Report on
Form 10-K,
any subsequent reports on
Form 10-Q
and any applicable Current Reports on
Form 8-K,
all of which are incorporated by reference into GS BDC’s prospectus to which this prospectus addendum relates. Unless you are informed otherwise in the confirmation of sale, this prospectus addendum is being used in a market-making transaction.  
GS BDC is an externally managed specialty finance company that is a
non-diversified,
closed-end, management
investment company that has elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “Investment Company Act”). GS BDC is focused on lending to “middle-market companies,” a term GS BDC generally uses to refer to companies with between $5 million and $200 million of annual earnings before interest expense, income tax expense, depreciation and amortization (“EBITDA”) excluding
certain one-time,
and non-recurring
items that are outside the operations of these companies. GS BDC’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, unitranche, including last out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
 
 
Investing in the Notes involves a high degree of risk and is highly speculative. Before investing in the Notes, you should read the discussion of the material risks of investing in GS BDC’s securities in the section titled “Risk Factors” in GS BDC’s most recent Annual Report on
Form 10-K,
any subsequent Quarterly Report on
Form 10-Q,
and in the prospectus supplement and prospectus referenced above.
Neither the SEC nor any state securities commission, nor any other regulatory body, has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
 
 
Goldman Sachs & Co. LLC
Prospectus Addendum dated September 29, 2026.

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