SEC Form N filed

(1)

 Title of the class of securities of MVC Capital, Inc. (the “Company”) to be redeemed:

6.25% Senior Notes due 2022 (CUSIP: 553829 409) (the “Notes”)

(2)

Date on which the securities are to be redeemed:

The Notes will be redeemed on January 22, 2021.

(3)

Applicable provisions of the governing instrument pursuant to which the securities are to be redeemed:

The Notes are to be redeemed pursuant to (i) Article Eleven of the Company’s base indenture governing the Notes, dated as of February 26, 2013 (the “Base Indenture”), between the Company and U.S. Bank National Association, as trustee, and (ii) Section 1.01(h) of the Second Supplemental Indenture, dated as of November 15, 2017, between the Company and U.S. Bank National Association, as trustee (the “Second Supplemental Indenture”).

(4)

The principal amount or number of shares and the basis upon which the securities to be redeemed are to be selected:

The Company will redeem $95,000,000 in aggregate principal amount of the issued and outstanding Notes pursuant to the terms of the Base Indenture and the Second Supplemental Indenture.

Barings BDC, Inc., as successor by merger to MVC Capital, Inc.

By:

 /s/ Eric Lloyd

Name:

Eric Lloyd

Title:

Chief Executive Officer