Tranche Update on Barings BDC, Inc.'s Equity Buyback Plan announced on February 23, 2023.
January 25, 2024 at 12:00 am EST
Share
From October 1, 2023 to February 22, 2024, the company has repurchased 449,096 shares, representing 0.42% for $3.92 million. With this, the company has completed the repurchase of 1,849,096 shares, representing 1.72% for $14.77 million under the buyback announced on February 23, 2023.
Barings BDC, Inc. is a closed-end, non-diversified investment company. The Companyâs investment objective is to generate current income by investing directly in privately held middle-market companies to help these companies fund acquisitions, growth or refinancing. The Company invest in predominately senior secured private debt investments in middle-market businesses that operate across a range of industries. It invests primarily in loans that have terms of between five and seven years, and bear interest at rates ranging from London Interbank Offered Rate (LIBOR) (or an applicable successor rate) plus 450 basis points to LIBOR plus 650 basis points per annum. Its investment capabilities include first lien debt, unitranche, second lien debt and equity co-investments. It invests in various industries, including manufacturing and distribution, business services and technology, and transportation and logistics. Its investment activities are managed by its investment adviser, Barings LLC.