Golub Capital BDC, Inc. (NASDAQ: GBDC), (“Golub Capital BDC” or the “Company”), a business development company, today announced the closing of a new $300 million credit facility (“Credit Facility”) with Morgan Stanley Bank, N.A., as lender.
The Credit Facility has a revolving availability period that extends through January 21, 2019 and a final maturity date of March 20, 2019. During the revolving availability period, the Credit Facility will bear interest at a rate equal to the one-month London Interbank Offered Rate (“LIBOR”) plus 1.90%.
Commencing on the last day of the revolving availability period, the interest rate on borrowings under the Credit Facility will reset to one-month LIBOR plus 2.15% for the remaining term.
In connection with entry into the Credit Facility, on July 20, 2018, the Company redeemed the outstanding notes issued as part of the $350.0 million term debt securitization (also known as a collateralized loan obligation, or CLO) that was initially completed on July 16, 2010 (the “2010 Debt Securitization”). Following such redemption, the agreements governing the 2010 Debt Securitization were terminated. The notes issued as part of the 2010 Debt Securitization would have otherwise matured on July 20, 2023.
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.