Goldman Sachs SEC Filings

Goldman Sachs BDC (GSBD) reports a broadly diversified investment portfolio primarily made up of 1st Lien/Senior Secured Debt across numerous private companies. Most positions are floating-rate loans priced at benchmarks such as SOFR, credit or prime plus stated spreads, often between about 4.5% and 7.5%, with several high-yield and PIK (payment-in-kind) structures like S + 9.50% or S + 12.00% on select names such as Streamland Media and Wine.com.

The portfolio spans sectors including software, health care technology and providers, commercial services and supplies, financial services, consumer services, industrials, energy equipment, and communications. Investments are primarily in the United States with additional exposure to Canada, the United Kingdom, India, Germany and Singapore. Alongside debt, GSBD also holds equity securities, preferred stock, and warrants in certain borrowers, plus interest rate swaps and foreign currency forward contracts used alongside specific holdings.

Goldman Sachs BDC, Inc. entered into a Fifth Supplemental Indenture and issued $400,000,000 aggregate principal amount of 5.100% notes due 2029. The notes mature on January 28, 2029 and pay interest semi-annually on January 28 and July 28, starting July 28, 2026.

The notes are general unsecured obligations, ranking senior to expressly subordinated debt, equal with other unsubordinated unsecured debt, and effectively or structurally junior to secured and subsidiary-level obligations. Net proceeds were approximately $392.5 million, which the company plans to use to pay down a portion of its senior secured revolving credit facility and for general corporate purposes.

Goldman Sachs BDC, Inc. filed a current report to let investors know when it will release upcoming results and discuss them publicly. The company plans to report its fourth quarter and full-year 2025 financial results after the market closes on Thursday, February 26, 2026.

Goldman Sachs BDC will then host an earnings conference call on Friday, February 27, 2026 at 9:00 a.m. Eastern Time to review and discuss the results. The details are provided through a press release attached as an exhibit to this report.

Goldman Sachs BDC, Inc. has issued a prospectus addendum that allows its affiliates, including Goldman Sachs & Co. LLC, to use the document for secondary market-making in its outstanding 5.100% notes due 2029.

These affiliates may buy or sell the notes as principal or agent at prices tied to prevailing market levels, and Goldman Sachs BDC will not receive any proceeds from these secondary transactions. The notes were originally offered under a prospectus supplement dated January 21, 2026 and a base prospectus dated September 29, 2023. The company is an externally managed business development company focused on lending to middle-market businesses and notes that investing in the notes involves a high degree of risk, directing investors to its risk factor disclosures.

Goldman Sachs BDC, Inc. entered into an underwriting agreement on January 21, 2026 with Goldman Sachs Asset Management, L.P. and SMBC Nikko Securities America, Inc., as representatives of a group of underwriters, to issue and sell $400,000,000 aggregate principal amount of its 5.100% notes due 2029.

The notes are being offered under the company’s effective Form N-2 shelf registration statement and related preliminary prospectus supplement and pricing term sheet filed on January 21, 2026. The agreement includes customary representations, closing conditions, indemnification and termination provisions, and the underwriters and their affiliates have provided, and may continue to provide, various financial and banking services to the company for customary fees.

Goldman Sachs BDC, Inc. is offering $400.0 million in aggregate principal amount of its 5.100% Notes due 2029. The Notes mature on January 28, 2029 and pay interest semiannually on January 28 and July 28, beginning July 28, 2026. They were priced at 99.283% of principal, with a 0.800% underwriting discount, for net proceeds of about $392.5 million before expenses.

The company plans to use the proceeds to pay down borrowings under its secured revolving credit facility and for general corporate purposes, with future reborrowing to make new investments. As of September 30, 2025, after giving effect to this offering and repayment of its 2.875% 2026 notes, total indebtedness would have been about $1,860.0 million, and its asset coverage ratio based on senior securities would have been 178%.

The Notes are unsecured, unsubordinated obligations ranking equally with GS BDC’s other unsecured unsubordinated debt and effectively behind about $553.0 million of secured debt. They are structurally subordinated to liabilities of subsidiaries. GS BDC may redeem the Notes at a make‑whole price before December 28, 2028 and at par thereafter, and holders can require repurchase at 100% of principal upon a qualifying change of control. The Notes are a new issue with no existing trading market.

Goldman Sachs BDC, Inc. is issuing a new series of unsecured, unsubordinated notes that will rank equally with its other unsecured debt and be structurally subordinated to obligations of its subsidiaries and effectively subordinated to secured borrowings. The notes pay semiannual cash interest and may be redeemed early at GS BDC’s option, including a make‑whole call before a defined par call date and a par call thereafter.

Holders gain limited protections, including the right to require repurchase at 100% of principal plus accrued interest following a defined Change of Control Repurchase Event. As of September 30, 2025, GS BDC had approximately $1,853.0 million of total indebtedness outstanding and an asset coverage ratio of 178%. Net proceeds are expected to be used primarily to pay down its secured Revolving Credit Facility, which bore a 6.29% weighted average interest rate for the nine months ended September 30, 2025, with capacity to reborrow for new middle‑market lending investments.

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.

Goldman Sachs BDC, Inc. filed an insider report noting a board change. The filing identifies Kari Ross Jay as a director of Goldman Sachs BDC, Inc. and states that, effective at the close of business on December 31, 2025, this person no longer serves as a director. The report does not list any acquisitions or sales of company securities, focusing instead on the change in board service status.