• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    Golub Capital BDC, Inc. Announces a Series of Debt Funding Structure Initiatives Aimed at Reducing Borrowing Costs and Providing Additional Investment Flexibility

    11/18/24 4:22:00 PM ET
    $GBDC
    Finance: Consumer Services
    Finance
    Get the next $GBDC alert in real time by email

    Golub Capital BDC, Inc. ("GBDC" or the "Company"), a business development company (NASDAQ:GBDC), and Golub Capital, today announced a series of debt funding structure initiatives expected to reduce GBDC's prospective borrowing costs and provide additional investment flexibility:

    1. On November 18, 2024, GBDC completed a $2.2 billion term debt securitization, also referred to as a collateralized loan obligation (CLO)("2024 Debt Securitization"). The secured notes were issued by the Company's consolidated subsidiary Golub Capital BDC CLO 8 LLC and are backed by a portfolio of collateral obligations consisting of middle market loans.
    2. In connection with the 2024 Debt Securitization closing, GBDC fully redeemed three of its existing term debt securitization financings: the $602.4 million 2018 Debt Securitization, the $908.2 million GCIC 2018 Debt Securitization and the $398.9 million GBDC 3 2021 Debt Securitization (collectively, the "Legacy GBDC and GBDC 3 Term Debt Securitizations").
    3. On November 15, 2024, GBDC also issued a notice of redemption to redeem the $386.6 million GBDC 3 2022-2 Debt Securitization in full, which is expected to occur on December 16, 2024.
    4. GBDC announced certain changes to existing bank lending relationships. The Company announced an increase of aggregate commitments under its senior secured revolving credit facility (the "JPM Credit Facility") from $1,822.5 million to $1,897.5 million with the addition of one new bank lending relationship. Further, the Company announced that it expects to terminate the senior secured revolving credit facility (the "DB Credit Facility") assumed in the acquisition of Golub Capital BDC 3, Inc. by merger.

    GBDC believes this series of transactions represents a meaningful evolution of GBDC's debt funding structure and is compelling for GBDC stockholders for several reasons:

    • Reduction in borrowing costs: The 2024 Debt Securitization closing ($1.192 billion of senior AAA-rated notes priced at 3M SOFR plus 1.56%, and $171.6 million of junior AAA-rated notes priced at 3M SOFR plus 1.75%), redemption of the Legacy GBDC and GBDC 3 Term Debt Securitizations, and termination of the DB Credit Facility are expected to result in an immediate reduction in the Company's overall weighted average cost of debt.
    • Extension of GBDC's debt maturity ladder: The 2024 Debt Securitization closing (October 2036 legal maturity and October 2028 reinvestment period), redemption of the Legacy GBDC and GBDC 3 Term Debt Securitizations, and termination of the DB Credit Facility materially extends the weighted average maturity of GBDC's debt funding structure.
    • Incremental available liquidity to make investments: The debt funding transactions provide for incremental liquidity, enabling GBDC to continue to provide first lien senior secured loans to healthy, resilient middle-market companies backed by strong, partnership-oriented private equity sponsors.
    • Maintains the Company's differentiated ratings profile: The Company expects no changes to its differentiated credit ratings profile (Baa3 (Positive)/BBB (Stable)/BBB- (Stable)) from Moody's, Fitch Ratings and S&P Global Ratings and expects to maintain a level of unsecured debt to total debt in excess of 40%.

    "GBDC has sought to deliver market-leading returns since its IPO in April 2010, and this evolution of the Company's post-GBDC 3 merger debt funding structure is a significant step in furthering that objective," said Matthew Benton, Chief Operating Officer of the Company. "These post-merger transactions, in combination with the incentive fee rate reduction that became permanent with the merger closing, achieves efficiencies of scale for the benefit of GBDC shareholders."

    "Year-to-date Golub Capital has executed over $16 billion of securitizations across 23 unique transactions firmwide, retaining our spot as the market's #1 issuer of middle market CLOs by volume. Completing the 2024 Debt Securitization for the benefit of GBDC shareholders, one of the largest CLOs on record, is a testament to the strength of the Golub Capital platform and leadership in the debt capital markets," said Alan George, Head of Structured Products at Golub Capital.

    Golub Capital BDC, Inc. will host an earnings conference call at 10:00 a.m. (Eastern Time) on Wednesday, November 20, 2024. The Company will discuss its financial results for the quarter and the year ended September 30, 2024, and will provide additional detail on the aforementioned debt funding structure initiatives.

    All interested parties may participate in the conference call by dialing (888) 330-3529 approximately 10-15 minutes prior to the call; international callers should dial (646) 960-0656. Participants should reference Golub Capital BDC, Inc. when prompted. An archived replay of the call will be available shortly after the call until 11:59 p.m. (Eastern Time) on December 4, 2024. To hear the replay, please dial (800) 770-2030. International dialers, please dial (609) 800-9909. For all replays, please reference program ID number 5111111.

    About Golub Capital BDC, Inc.

    Golub Capital BDC, Inc. ("GBDC") is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. GBDC invests primarily in one stop and other senior secured loans to middle market companies that are often sponsored by private equity investors. GBDC's investment activities are managed by its investment adviser, GC Advisors LLC, an affiliate of the Golub Capital LLC group of companies ("Golub Capital").

    About Golub Capital

    Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. The firm specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Golub Capital's sponsor finance expertise also forms the foundation of its Broadly Syndicated Loan and Credit Opportunities investment programs. Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

    As of October 1, 2024, Golub Capital had over 1,000 employees and over $70 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe and Asia. For more information, please visit golubcapital.com.

    Forward-Looking Statements

    This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results could differ materially from those expressed or implied in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. Golub Capital BDC, Inc. undertakes no duty to update any forward-looking statement made herein, whether as a result of new information, future events or otherwise, investors are advised to consult any additional disclosures that Golub Capital BDC, Inc. may make directly or through reports that it in the future files with the Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. All forward-looking statements speak only as of the date of this press release.

    View source version on businesswire.com: https://www.businesswire.com/news/home/20241118381858/en/

    Get the next $GBDC alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $GBDC

    DatePrice TargetRatingAnalyst
    5/8/2024Outperform → Mkt Perform
    Raymond James
    3/25/2024Neutral → Buy
    BofA Securities
    8/9/2023$15.50Mkt Perform → Outperform
    Raymond James
    4/18/2023$12.25Overweight → Equal Weight
    Wells Fargo
    12/1/2021$17.50 → $16.75Overweight
    Wells Fargo
    9/22/2021$16.00Accumulate → Outperform
    Oppenheimer
    More analyst ratings

    $GBDC
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chairman Golub Lawrence E sold $91,687,363 worth of shares (6,059,971 units at $15.13), bought $91,687,363 worth of shares (6,059,971 units at $15.13) and gifted 6,059,971 shares (SEC Form 4)

      4 - GOLUB CAPITAL BDC, Inc. (0001476765) (Issuer)

      5/29/25 4:55:23 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Chief Executive Officer Golub David sold $91,687,363 worth of shares (6,059,971 units at $15.13), bought $91,687,363 worth of shares (6,059,971 units at $15.13) and gifted 6,059,971 shares (SEC Form 4)

      4 - GOLUB CAPITAL BDC, Inc. (0001476765) (Issuer)

      5/29/25 4:52:38 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Amendment: Director Rival Anita J. bought $50,295 worth of shares (3,500 units at $14.37) (SEC Form 4)

      4/A - GOLUB CAPITAL BDC, Inc. (0001476765) (Issuer)

      12/6/24 4:17:23 PM ET
      $GBDC
      Finance: Consumer Services
      Finance

    $GBDC
    SEC Filings

    See more
    • Golub Capital BDC Inc. filed SEC Form 8-K: Other Events

      8-K - GOLUB CAPITAL BDC, Inc. (0001476765) (Filer)

      5/29/25 4:56:20 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • SEC Form APP NTC filed by Golub Capital BDC Inc.

      APP NTC - GOLUB CAPITAL BDC, Inc. (0001476765) (Filer)

      5/22/25 4:24:36 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital BDC Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits

      8-K - GOLUB CAPITAL BDC, Inc. (0001476765) (Filer)

      5/16/25 5:03:47 PM ET
      $GBDC
      Finance: Consumer Services
      Finance

    $GBDC
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Golub Capital BDC Inc. (Amendment)

      SC 13G/A - GOLUB CAPITAL BDC, Inc. (0001476765) (Subject)

      1/19/23 3:04:53 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • SEC Form SC 13G/A filed by Golub Capital BDC, Inc. (Amendment)

      SC 13G/A - GOLUB CAPITAL BDC, Inc. (0001476765) (Subject)

      1/13/22 4:13:46 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • SEC Form SC 13G/A filed by Golub Capital BDC, Inc. (Amendment)

      SC 13G/A - GOLUB CAPITAL BDC, Inc. (0001476765) (Subject)

      1/5/22 4:07:49 PM ET
      $GBDC
      Finance: Consumer Services
      Finance

    $GBDC
    Financials

    Live finance-specific insights

    See more

    $GBDC
    Press Releases

    Fastest customizable press release news feed in the world

    See more

    $GBDC
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Golub Capital BDC, Inc. Announces Fiscal Year 2025 Second Quarter Financial Results

      Declares Quarterly Distribution of $0.39 Per Share Golub Capital BDC, Inc., a business development company (NASDAQ:GBDC), today announced its financial results for its second fiscal quarter ended March 31, 2025. Except where the context suggests otherwise, the terms "we," "us," "our," and "Company" refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. "GC Advisors" refers to GC Advisors LLC, our investment adviser. SELECTED FINANCIAL HIGHLIGHTS         (in thousands, except per share data)             March 31, 2025   December 31, 2024 Investment portfolio, at fair value   $ 8,621,220     $ 8,685,231   To

      5/5/25 4:10:00 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital BDC, Inc. Schedules Release of Fiscal Year 2025 Second Quarter Results

      Golub Capital BDC, Inc., a business development company (NASDAQ:GBDC, www.golubcapitalbdc.com)), announced today that it will report its financial results for the quarter ended March 31, 2025 on Monday, May 5, 2025 after the close of the financial markets. Golub Capital BDC, Inc. will host an earnings conference call at 12:00 p.m. (Eastern Time) on Tuesday, May 6, 2025 to discuss its quarterly financial results. All interested parties may participate in the conference call by dialing (888) 596-4144 approximately 10-15 minutes prior to the call; international callers should dial (646) 968-2525. Participants should reference Golub Capital BDC, Inc. when prompted. An archived replay of the c

      4/4/25 9:00:00 AM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital BDC, Inc. Announces Fiscal Year 2025 First Quarter Financial Results

      Declares Quarterly Distribution of $0.39 Per Share Golub Capital BDC, Inc., a business development company (NASDAQ:GBDC), today announced its financial results for its first fiscal quarter ended December 31, 2024. Except where the context suggests otherwise, the terms "we," "us," "our," and "Company" refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. "GC Advisors" refers to GC Advisors LLC, our investment adviser. SELECTED FINANCIAL HIGHLIGHTS                   (in thousands, except per share data)             December 31, 2024   September 30, 2024 Investment port

      2/4/25 4:30:00 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital BDC, Inc. Announces Fiscal Year 2025 Second Quarter Financial Results

      Declares Quarterly Distribution of $0.39 Per Share Golub Capital BDC, Inc., a business development company (NASDAQ:GBDC), today announced its financial results for its second fiscal quarter ended March 31, 2025. Except where the context suggests otherwise, the terms "we," "us," "our," and "Company" refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. "GC Advisors" refers to GC Advisors LLC, our investment adviser. SELECTED FINANCIAL HIGHLIGHTS         (in thousands, except per share data)             March 31, 2025   December 31, 2024 Investment portfolio, at fair value   $ 8,621,220     $ 8,685,231   To

      5/5/25 4:10:00 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital BDC, Inc. Schedules Release of Fiscal Year 2025 Second Quarter Results

      Golub Capital BDC, Inc., a business development company (NASDAQ:GBDC, www.golubcapitalbdc.com)), announced today that it will report its financial results for the quarter ended March 31, 2025 on Monday, May 5, 2025 after the close of the financial markets. Golub Capital BDC, Inc. will host an earnings conference call at 12:00 p.m. (Eastern Time) on Tuesday, May 6, 2025 to discuss its quarterly financial results. All interested parties may participate in the conference call by dialing (888) 596-4144 approximately 10-15 minutes prior to the call; international callers should dial (646) 968-2525. Participants should reference Golub Capital BDC, Inc. when prompted. An archived replay of the c

      4/4/25 9:00:00 AM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital BDC, Inc. Announces Fiscal Year 2025 First Quarter Financial Results

      Declares Quarterly Distribution of $0.39 Per Share Golub Capital BDC, Inc., a business development company (NASDAQ:GBDC), today announced its financial results for its first fiscal quarter ended December 31, 2024. Except where the context suggests otherwise, the terms "we," "us," "our," and "Company" refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. "GC Advisors" refers to GC Advisors LLC, our investment adviser. SELECTED FINANCIAL HIGHLIGHTS                   (in thousands, except per share data)             December 31, 2024   September 30, 2024 Investment port

      2/4/25 4:30:00 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital downgraded by Raymond James

      Raymond James downgraded Golub Capital from Outperform to Mkt Perform

      5/8/24 6:24:36 AM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital upgraded by BofA Securities

      BofA Securities upgraded Golub Capital from Neutral to Buy

      3/25/24 8:43:32 AM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Golub Capital upgraded by Raymond James with a new price target

      Raymond James upgraded Golub Capital from Mkt Perform to Outperform and set a new price target of $15.50

      8/9/23 6:40:19 AM ET
      $GBDC
      Finance: Consumer Services
      Finance

    $GBDC
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Chairman Golub Lawrence E sold $91,687,363 worth of shares (6,059,971 units at $15.13), bought $91,687,363 worth of shares (6,059,971 units at $15.13) and gifted 6,059,971 shares (SEC Form 4)

      4 - GOLUB CAPITAL BDC, Inc. (0001476765) (Issuer)

      5/29/25 4:55:23 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • Chief Executive Officer Golub David sold $91,687,363 worth of shares (6,059,971 units at $15.13), bought $91,687,363 worth of shares (6,059,971 units at $15.13) and gifted 6,059,971 shares (SEC Form 4)

      4 - GOLUB CAPITAL BDC, Inc. (0001476765) (Issuer)

      5/29/25 4:52:38 PM ET
      $GBDC
      Finance: Consumer Services
      Finance
    • New insider Kit Wu Kwan claimed ownership of 20,547 shares (SEC Form 3)

      3 - GOLUB CAPITAL BDC, Inc. (0001476765) (Issuer)

      5/5/25 6:10:57 PM ET
      $GBDC
      Finance: Consumer Services
      Finance