On August 5, 2021, Michael Freno submitted his resignation from the Barings BDC, Inc.’s Board of Directors (the “Board”), including as its Chairman, effective on August 6, 2021. The Board, upon recommendation from its Nominating and Corporate Governance Committee, has appointed Eric Lloyd, the Company's Chief Executive Officer and a member of the Board, to serve as Chairman of the Board, effective on August 6, 2021. addition, the Board, upon recommendation from its Nominating and Corporate Governance Committee, has appointed Dr. Bernard Harris to fill the vacant seat created by Mr. Freno’s resignation, effective on August 6, 2021, to serve as a Class II member of the Board for the remainder of the full term of such Class II directorship. The Board also appointed Dr. Harris to the Nominating and Corporate Governance Committee, Audit Committee, and the Compensation Committee of the Board. Dr. Harris currently serves as Chief Executive Officer and Director of the National Math and Science Initiative, President of The Harris Foundation/Institute, and Chief Executive Officer and Managing Partner of Vesalius Ventures, Inc.
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.
BARINGS BDC, INC. 
