Barings BDC, Inc. Prices $350.0 Million Aggregate Principal Amount of the Notes
November 18, 2021 at 04:17 pm EST
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On November 18, 2021, Barings BDC, Inc. priced $350.0 million aggregate principal amount of the Notes. The Notes were sold in private placements to persons reasonably believed to be qualified institutional buyers pursuant Rule 144A under the Securities Act and to certain non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes will mature on November 23, 2026 and may be redeemed in whole or in part at the Company?s option at any time at par plus a ?make-whole? premium, if applicable. The offering is expected to close on November 23, 2021, subject to customary closing conditions. The Company expects to use the net proceeds of this offering to repay indebtedness under its senior secured revolving credit facility with ING Capital LLC, make investments in portfolio companies in accordance with its investment objectives and for the general corporate purposes of it and its subsidiaries. This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
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.