Golub Capital BDC obtains five-year revolver for up to $475 million

By Rebecca Melvin and Marisa Wong

New York, Feb. 12 – Golub Capital BDC Inc. entered into a new $475 million senior secured revolving credit facility on Feb. 11, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA, MUFG Union Bank, NA and Sumitomo Mitsui Banking Corp. are joint bookrunners and joint lead arrangers. MUFG and Sumitomo Mitsui are syndication agents. JPMorgan is administrative agent and as collateral agent.

The revolver matures on Feb. 11, 2026.

The interest rate on borrowings ranges from one-month Libor plus 175 basis points to one-month Libor plus 187.5 bps, depending on the borrowing base.

The company will also pay a commitment fee of 37.5 bps on the daily unused portion of commitments during the revolving period.

Golub may borrow the funds in dollars and some agreed upon foreign currencies with an option to request that existing or new lenders provide, at their election, up to $237.5 million of additional commitments, according to a press release.

The revolver requires the company to comply with some financial covenants, according to the 8-K filing. Specifically, the company must maintain a minimum stockholders’ equity, measured as of each fiscal quarter-end, and the company must maintain at all times a 150% asset coverage ratio.

Golub is an externally managed, non-diversified closed-end management investment company based in New York.

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