Golub Capital unit downsizes senior secured revolver to $100 million

By Susanna Moon

Chicago, March 18 - Golub Capital BDC, Inc.'s wholly owned subsidiary Golub Capital BDC Funding LLC downsized its senior secured revolving credit facility to $100 million from $150 million, according to an 8-K filing with the Securities and Exchange Commission.

The company amended its revolver on March 15 with Wells Fargo Securities, LLC as administrative agent and Wells Fargo Bank, NA as lender. The amendment is effective as of March 8.

The facility is secured by all of the assets held by the subsidiary, and the company has pledged its interests in the subsidiary as collateral to Wells Fargo Bank as the collateral agent to secure the obligations of the company.

"After increasing the size of our term debt securitization and after receiving our second small business investment company license, we proactively decided to right-size the senior secured revolving credit facility," chief executive officer David Golub said in the release.

Chicago-based Golub is a provider of financing services for the middle market with additional offices in New York and Atlanta.

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