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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Golub Capital BDC, Inc.    GBDC

GOLUB CAPITAL BDC, INC.

(GBDC)
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GOLUB CAPITAL BDC, INC. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

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03/26/2020 | 03:34pm EDT

Item 1.01. Entry into a Material Definitive Agreement.

On March 20, 2020, Golub Capital BDC Funding II LLC ("Funding II"), a wholly-owned subsidiary of Golub Capital BDC, Inc. (the "Company"), entered into an amendment (the "Credit Facility Amendment") to the document governing the senior secured revolving credit facility (as amended, the "MS Credit Facility II") by and among Funding II, as the borrower, the Company, as the originator and servicer, Morgan Stanley Senior Funding, Inc., as the administrative agent ("Morgan Stanley"), each of the lenders from time to time party thereto, each of the securitization subsidiaries from time to time party thereto, and Wells Fargo Bank, National Association, as collateral agent, account bank, and collateral custodian. The Credit Facility Amendment was effective as of March 20, 2020.

The Credit Facility Amendment, among other things, changes the date under which the borrowing capacity under the MS Credit Facility II reverts from $500.0 million to $200.0 million to June 30, 2020 from March 31, 2020. The other material terms of the MS Credit Facility II were unchanged.

As previously disclosed, the MS Credit Facility II is secured by all of the assets held by Funding II. Both the Company and Funding II have made customary representations and warranties and are required to comply with various covenants, reporting requirements and other customary requirements for similar credit facilities. Borrowing under the MS Credit Facility II remains subject to the leverage restrictions contained in the Investment Company Act of 1940, as amended (the "1940 Act"). In accordance with the 1940 Act, with certain limited exceptions, the Company is currently allowed to borrow amounts such that its asset coverage, as defined in the 1940 Act, is at least 150% after such borrowing.

The description above is only a summary of the material provisions of the Credit Facility Amendment and is qualified in its entirety by reference to a copy of the Credit Facility Amendment, which is filed as Exhibit 10.1 to this current report on Form 8-K.


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



The information contained in Item 1.01 of this current report on Form 8-K is incorporated by reference in this Item 2.03.

Item 9.01. Financial Statements and Exhibits.





(d)    Exhibits.



   10.1     Fourth Amendment to Loan and Servicing Agreement, dated as of March
          20, 2020, by and among Golub Capital BDC Funding II LLC, as the
          borrower; Golub Capital BDC, Inc., as the originator and as the
          servicer; Morgan Stanley Senior Funding, Inc., as the administrative
          agent; and Morgan Stanley Bank, N.A., as the lender.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 323 M
EBIT 2020 -
Net income 2020 58,8 M
Debt 2020 -
Yield 2020 12,3%
P/E ratio 2020 8,04x
P/E ratio 2021 9,37x
Capi. / Sales2020 4,56x
Capi. / Sales2021 4,70x
Capitalization 1 473 M
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 15,00  $
Last Close Price 11,01  $
Spread / Highest target 68,0%
Spread / Average Target 36,2%
Spread / Lowest Target 8,99%
EPS Revisions
Managers
NameTitle
David B. Golub Chief Executive Officer & Director
Lawrence Eric Golub Chairman
Ross A. Teune Chief Financial Officer & Treasurer
Kenneth F. Bernstein Independent Trustee
John Thomas Baily Independent Director