Goldman Sachs BDC (NYSE: GSBD) repays $500M 2026 notes via credit draw

Rhea-AI Filing Summary

Goldman Sachs BDC, Inc. drew $505.0 million on its senior secured revolving credit facility on January 15, 2026. The company used this borrowing, together with cash on hand, to repay in full the $500.0 million aggregate principal amount of its 2.875% senior notes due 2026, plus all accrued and unpaid interest, at their maturity on January 15, 2026. This repayment fully satisfied the company’s obligations under the notes. After this drawdown, Goldman Sachs BDC reports that it has approximately $526.0 million of remaining borrowing capacity under the revolving credit facility.

Insights

Credit and capital structure analyst

Goldman Sachs BDC refinances maturing notes with revolving credit

Goldman Sachs BDC, Inc. replaced its maturing 2.875% senior notes due 2026 by drawing $505.0 million on its senior secured revolving credit facility and using this, plus cash on hand, to repay the $500.0 million principal and accrued interest. This removes the fixed-maturity notes from its capital structure while increasing usage of the revolving facility.

The transaction eliminates the 2026 note maturity but increases secured bank borrowings, which can carry different covenants and interest costs than public notes. The filing states that all obligations under the notes are satisfied, and that borrowing capacity of about $526.0 million remains available under the revolver, which preserves additional funding flexibility.

Subsequent disclosures in future periodic reports may detail the interest expense profile and covenant headroom under the revolving credit facility following this refinancing, helping investors understand the ongoing funding mix after January 15, 2026.

false 0001572694 0001572694 2026-01-15 2026-01-15

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 15, 2026

GOLDMAN SACHS BDC, INC.

(Exact name of registrant as specified in its charter)

Delaware		814-00998		46-2176593
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

200 West Street, New York, New York		10282
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (312) 655-4419

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		GSBD		The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.03 - Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On January 15, 2026, Goldman Sachs BDC, Inc., a Delaware corporation (the “Company”), borrowed $505.0 million under its senior secured revolving credit agreement (the “Revolving Credit Facility”). The proceeds were used, together with the cash on hand, to repay $500.0 million aggregate principal amount outstanding, plus accrued and unpaid interest, on its 2.875% senior notes due 2026 (the “Notes”), which matured on January 15, 2026. The repayment resulted in full satisfaction of the Company’s obligations under the Notes.

Following this drawdown, the Company has approximately $526.0 million of borrowing capacity remaining under the Revolving Credit Facility.

Item 8.01 - Other Events.

As described above, on January 15, 2026, the Company paid to Computershare Trust Company, National Association (as successor to Wells Fargo Bank, National Association), as trustee for the holders of the Company’s Notes, for the benefit of the holders of the Notes, the aggregate principal amount outstanding of $500.0 million, plus accrued and unpaid interest in full satisfaction of the Company’s obligations under the Notes.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				GOLDMAN SACHS BDC, INC. (Registrant)
Date: January 20, 2026				By:		/s/ Vivek Bantwal
				Name:		Vivek Bantwal
				Title:		Co-Chief Executive Officer
				By:		/s/ David Miller
				Name:		David Miller
				Title:		Co-Chief Executive Officer

FAQ

What did Goldman Sachs BDC, Inc. (GSBD) announce in this 8-K?

Goldman Sachs BDC, Inc. reported that on January 15, 2026 it borrowed $505.0 million under its senior secured revolving credit agreement and used the proceeds, together with cash on hand, to repay in full its $500.0 million 2.875% senior notes due 2026, including accrued and unpaid interest.

How much of Goldman Sachs BDC’s 2.875% senior notes due 2026 were repaid?

The company repaid the full $500.0 million aggregate principal amount outstanding of its 2.875% senior notes due 2026, plus all accrued and unpaid interest, resulting in full satisfaction of its obligations under those notes.

How did Goldman Sachs BDC fund the repayment of the 2026 notes?

Goldman Sachs BDC funded the repayment by borrowing $505.0 million under its senior secured revolving credit facility and combining those borrowings with cash on hand to pay the $500.0 million principal and accrued and unpaid interest on the notes.

What borrowing capacity remains under Goldman Sachs BDC’s revolving credit facility?

After the $505.0 million drawdown on January 15, 2026, Goldman Sachs BDC states that it has approximately $526.0 million of borrowing capacity remaining under its senior secured revolving credit facility.

Who acted as trustee for Goldman Sachs BDC’s 2.875% senior notes due 2026?

The trustee for the 2.875% senior notes due 2026 was Computershare Trust Company, National Association, acting as successor to Wells Fargo Bank, National Association, and it received the principal and accrued interest payment for the benefit of the noteholders.

Did this transaction fully satisfy Goldman Sachs BDC’s obligations under the 2026 notes?

Yes. The company states that payment of the $500.0 million aggregate principal amount outstanding, plus accrued and unpaid interest, to the trustee on January 15, 2026 was in full satisfaction of its obligations under the 2.875% senior notes due 2026.